India’s healthcare sector is changing rapidly; these startups are using advanced technology to offer innovative healthcare solutions. The increase in India’s population led to the emergence of more healthcare companies to solve uneven access to quality care in backward parts of the country. These startups are introducing solutions to transform how healthcare is delivered. From online platforms that connect doctors and patients in remote areas to using artificial intelligence in devices; while enabling easy and precise diagnosis of illnesses faster.
The Indian healthcare market is predicted to grow and increase more in the next few years. Healthcare startups especially stand out in the first half of this year for their potential and huge impact on the healthcare industry. These companies are gaining attention for making healthcare accessible for rural areas and offering innovative products and services. In this article, we have talked about some of the top healthcare startups in India to keep an eye on for their innovative solutions and techniques.
Clinikally
Clinikally is a telemedicine startup that provides personalized hair and skin consultations and treatment plans from experts. The startup uses advanced technologies and allows customers to buy pharmaceutical-grade skincare and haircare treatments. The startup has secured over 3.1 million USD across two funding rounds since its inception in 2021, including $2.6 million raised during its seed funding round. The company has 12 institutional investors including Sequoia Capital, Tribe Capital, and Goodwater Capital. The healthcare startup faces competition from other companies in the same segment such as Remedico, Nonu Care, Cureskin, and more.
Healthifyme
The digital health and fitness platform provides personalized information to users regarding their diet plans. The healthcare platform offers various services such as calorie tracking, fitness guidance, and nutrition advice. Healthyfyme collaborates with other medical institutions like Apollo, and Medanta to address diabetes and other lifestyle diseases. The startup secured $30 million in its pre-series D funding round from Leapfrog Investments, FinnFund, and Khosla Ventures. The company has raised over $130 million across ten rounds since its inception till date. The startup competes with Aaptiv, Noom, and Curefit.
Medibuddy
NediBuddy is an online healthcare platform that provides 24/7 access to healthcare services such as e-pharmacy and medical consultations. The platform also offers a gold membership to its customers that allows 6 family members to get unlimited online medical advice from specialists in more than 22 medical fields with 16 native languages available. The startup has secured around 193 million USD across all its funding rounds, this includes $18.9 million raised during its funding round last year. The company also facilitates wellness tests, blood tests, diagnostic tests, and full-body checkups. MediBuddy faces competition from API Holdings, Practo, Applo 24/7, and more.
Genworks Health
Genworksis a healthcare service platform that provides medical devices for ENT, Cardiology, radiology, and respiratory diagnosis. The startup was established as a joint venture between American multinational GE Healthcare and an Indian IT major. The company provides customers with medical advice and medical professionals. The startup secured around $37.7 million across six funding rounds to date, including $5 million raised in its fresh funding round from Evolvence Fund with the participation of investors including Somerset Indus Healthcare and Zawawi Group. Genworks Health competes with Practo, Diri Care, and other healthcare companies.
Drucrae
Cloud-based healthtech startup Drucare provides medical solutions and services to different healthcare organizations. The company launched its flagship product DrucareONE which provides an online healthcare SaaS platform. This platform is designed to meet the IT infrastructure needs of pharmacies, clinics, hospitals, laboratories, and patients. The startup has been working to make the health tech sector more economical and user-friendly. The startup has secured over $1.2 million across one funding round led by SATRA services. The flagship product of DruCare provides advanced healthcare solutions to its clients. The platform has over 40 services and plans to expand its offerings this year.
Healthkart
HealthKart is a digital platform that provides multiple healthcare products such as proteins, multivitamins, herbal supplements, fat burners, and more. The startup offers other international and national brands with its own products to provide a variety of options to its customers. The company supplies its products through e-commerce platforms like 1mg, Amazon, and Flipkart. The startup aims to offer customers genuine health and wellness products at affordable prices. HealthKart has raised around $154 million across ten rounds to date. The company had a post-money valuation of $370 million in 2022 and faces competition from other companies like HyugaLife, and OZiva.
1mg
Healthcare and medicines provider 1mg is one of the few unicorns that the Indian healthtech sector has incubated. 1mg was initially a website to provide medicine-related information but due to increased demand for delivery, the firm started its medicine delivery services. The startup now has three business verticals: labs, doctors, and Pharmaceuticals. The company also provides wellness supplements, medical devices, diagnostic kits, and personal care items. The company secured $231 million across multiple funding rounds to date. The startup faces competition from other online pharmacy and medical consultation platforms such as IFC, HBM Healthcare Investments, and others.
Practo
Practo provides a cloud-based online platform that [provides cloud-based healthcare software to deliver healthcare information with high clinical value and usability. The online platform allows users to book an appointment with medical professionals, and practice management. The web-based platform enables users to go through a doctor’s profile and book an appointment to get chat-based telecommunication. The platform offers both online and offline consultation services anytime. The startup has secured around 193 million USD since its inception, including $1.68 million raised during its series D funding round. The company faces competition from MediBuddy, Hinge Health, and Modernizing Medicine.
Netmeds
This healthcare startup provides an online platform with delivery service options for medicines and healthcare products. The company claims to have over one million users and 19000 PIN codes across India. The platform allows users to book an appointment for diagnostic tests and buy healthcare products. The company has raised around 109 million in funding across multiple rounds. The startup recently secured $35 million from its existing investors. The company has around seven institutional investors including MAPE, Orbimed, and Daun Penh Cambodia Group. The users can directly upload their prescriptions or search for medicine through this platform.
Pharmeasy
Healthcare startup PharmEasy provides easy access to medicines, and telehealth online through its platform. The company acquired MedLife and became one of the largest online pharmacies across India. The startup serves over two million customers monthly. The company collaborates with local pharmaceutical stores to deliver the medicine to customers. PharmEasy has secured around $689 million across eleven rounds since its inception. The healthcare startup hasrecently acquired Aknamed and Throcare. The company competes with businesses in the same segment like 1mg, SastaSundar, and Truemeds.
Tata Health
Tata Health is a digital healthcare platform that provides healthcare solutions to clinics for managing their practices. The startup has multiple services, such as a cloud-based patient health record system and online patient appointment and scheduling solutions. The platform also provides an online telemedicine platform for doctors called Virtual Care Plus. The company has secured over 303 million USD since its inception from ICICI Bank and others, this includes $67.1 million raised across the series A funding round. The startup competes with other companies in this sectorsuch as Practo, MediBuddy, and API Holdings.
Docplexus
Docplexus is an online platform for clinicians that focuses on developing a community for doctors. The platform allows various doctors to discuss patient cases and receive guidelines or opinions from other doctors for better results. The platform was launched to connect doctors and provide them a place to communicate and find more innovative solutions for complicated cases. The startup has raised over $1.89 million across six funding rounds since its inception. The firm has six institutional investors including Uniqorn Ventures and O3 Capital. The company faces competition from other platforms in the same sector such as Medshr, WebMD, and Sermo.
Conclusion:
In conclusion, India’s healthcare sector is increasing and transforming rapidly. The startups are transforming healthcare services across the country while bringing innovative solutions to the market. These startups are solving critical issues such as access to quality healthcare in rural areas and providing advanced, tech-driven healthcare services. Many startups like Clinikally, HealthifyMe, PharmEasy, MediBuddy, and others are making healthcare more accessible and affordable, particularly for those in remote regions. Their use of technology, such as telemedicine, artificial intelligence, and cloud-based services, has been changing the approach to providing healthcare services in India for years.
As the Indian healthcare market continues to grow, these startups are expected to play an increasingly important role in shaping the future of the healthcare industry. These companies are focused on innovation and are providing solutions to meet the current needs of the population. The companies are now setting new standards for healthcare in the country. The startups are now getting the continued support of the Indian government and with the investment, these companies are well positioned to make a significant impact on the healthcare landscape of India in the coming years.
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