29 April, 2016, Bangalore: DocsApp, online doctor consultation space has now announced a seed funding of US $1.2 million by Facebook’s angel investors Anand Rajaraman – Venky Harinarayan and Japanese venture capital firm Rebright Partners. Founded in 2015 by IIT Madras Alumni, DocsApp is a mobile medical consultation platform in the country which provides quality consultation for patients with fastest turnaround time of 30mins. DocsApp has been designed to give the best experience to patients with complete privacy. Patients can chat with the doctor and also share pictures and reports of the ailment with the doctors privately. DocsApp aims to utilize the funding to develop and expand their scale of operations, recruit talent and continue breaking barriers through technology in the medical space thereby excelling at user experience.
Talking about the gap in the online primary healthcare space in India, Satish Kannan, Co-Founder & CEO, DocsApp said, “With close to 200 million smartphone users and with the increasing percentage of mobile network penetration into rural areas, mobile phones have become the key medium of communication across the country. Taking advantage of this widespread network, our aim is to provide high quality primary healthcare services to people across India through our mobile application. It’s estimated that up to 70 per cent of the commonest health issues people face can be managed online.”
In India, currently around 4 billion transactions happen in the healthcare sector every year. The entire healthcare market in India is worth around US $80 billion; however the online market is estimated to grow to around US $42 billion in the coming years. . Within a year, majority of DocsApp users have come from major cities like Bangalore, Delhi-NCR, Mumbai, Chennai & Hyderabad.
Speaking about the investment, Facebook’s early investors Anand Rajaraman & Venky Harinarayan said, “The DocsApp team has created an amazing app that combines whiz bang technology with specialist doctors to enable speedy doctor consultations and great patient outcomes. This app will revolutionize primary healthcare in India!”
The investment round was led by Rebright Partners and Takeshi Ebihara, Founding General Partner of Rebright Partners said, “The team has a great understanding of the healthcare space and it is a scalable business model that can service millions of patients across India and South-East Asia.”