Healthcare startup Practo raises $90 million from investors
The funding juggernaut for Indian startups rolls on. This time, though, it is not your usual e-commerce outfit that has raised money. Practo, a healthcare platform, has raised $90 million from a bunch of investors, according to a statement by the company.business Updated: Aug 06, 2015 15:47 IST
The funding juggernaut for Indian startups rolls on. This time, though, it is not your usual e-commerce outfit that has raised money. Practo, a healthcare platform, has raised $90 million from a bunch of investors, according to a statement by the company.
The round was led by Tencent, which means the Chinese internet giant and fund house, which is also behind WeChat, brought in the largest amount in this round.
The other investors are Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner.
Practo, which had raised $30 million from Sequoia India and Matrix Partners a few months ago, has now raised a total of $125 million, which it claims is one of the largest in the world of digital health.
The company has a B2B software product in Practo Ray, which is integrated with its consumer offering: Practo Search. The two together help a large number of doctors treat an even larger number of patients and maintain their records online.
In the last six months, the statement says, Practo has grown six times to have 200,000 healthcare practitioners on its platform and 10 million searches a month by consumers looking for healthcare advice or to get themselves treated.
The fresh funding will help the company expand its product line and continue its growth outside India. It expects to grow its footprint from 35 cities in India and three countries to more than 100 cities in India and 10 countries.