Remedico which is legally known as Blackburn Technologies Private Limited has recently announced to have raised INR 4 crore in bridge financing round led by Achieving Women Equity Funds (AWE Funds).
Founded back in 2018 by Ranjit Bhatia, Remedico is a mobile healthcare start-up that leverage technology to provide a full-stack solution to millennials and Gen Z from in the health-tech sector. The start-up is an online dermatology service which it claims to be the easiest and fastest way to get healthy skin and hair through its healthcare solutions.
Coming back to the funding round, LetsVenture and a few angel investors are new entrants in the company’s list of investors and existing investors including Parkview Investment Advisors and Mumbai-based Venture Catalysts are also known to participate in Remedico’s latest bridge financing round.
When asked about the latest funding, the start-up mentions utilising this newly infused money to expand its pan-India presence and Remedico’s product and technology operations. The start-up aims to deliver a fully integrated, full-stack solution to health solutions involving dermatology and haircare for young millennials and Gen Z users.
Ranjit Bhatia, founder and Chief Executive Officer, Remedico says that the start-up is set to capitalise on India’s booming digital health adoption. The start-up is in a strong position to grow its consumer by taking control of their health and well-being. He added that the company has received tremendous response for its dermatology offerings and is excited to be backed by AWE Funds.
Also, Abhimanyu Bisht, Head of Investment Operations at Venture Catalysts says that there is a growing consciousness about healthcare among Gen Z and millennial consumers of Tier-II and Tier-III cities across India. He further added that currently, Remedico is focused on catering to Tier-I consumers. The start-up aims to target the relatively untapped market in India by offering its bouquet of healthcare solutions to young Gen Z users. He says that Venture Catalysts is delighted to back Remedico with its investment that drives its growth and operational scalability, as mentioned in a report by Indian Web 2.
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COVID-19 has been a major driving force in digitising India and this has helped the healthcare industry to boom in the online market space. Most healthcare start-ups switched to digital modes of service with online consultations, medicine delivery, doctor appointment, diagnosis and much more.
AWE Funds is now an investor in Remedico and its gender lens is known to invest in Pre-Series A, Series A and other funding rounds in multiple sectors including health-tech, Agri-tech, Ed-tech, Fin-tech etc. to promote gender equality.