HealthPlix raises $22M to boost healthcare delivery and accelerate growth in India
- ByStartupStory | March 15, 2023
HealthPlix Technologies, based in Bengaluru, has secured $22 million in a Series C funding round. The investment was led by Avataar Venture Partners and SIG Venture Capital, with participation from existing investors such as Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, and Chiratae Ventures. HealthPlix has raised a total of approximately $20 million in venture capital to date.
Founded in 2014, HealthPlix is a healthtech startup that offers a digital technology platform to doctors, providing them with quick access to their patients’ health records to enhance outcomes. With the recent Series C funding round of $22 million led by Avataar Venture Partners and SIG Venture Capital, the company plans to expand its technology stack and attract more users to its digital platform. HealthPlix currently boasts a user base of over 10,000 doctors, and it aims to increase this number to 25,000 by 2024.
According to Sandeep Gudibanda, the Co-founder and CEO of HealthPlix, the company’s primary goal is to improve health outcomes at the population level. Presently, the company serves 2.5% of India’s entire population, and with the latest funding round of $22 million, it plans to cater to 200-250 million more patients within the next 18 months. HealthPlix focuses on serving individual doctors’ clinics, small nursing homes, and polyclinics, and since only 4% of these healthcare providers currently rely on electronic health records, the startup has ample opportunity for future growth.
According to Gudibanda, it is crucial to drive healthcare outcomes at primary healthcare centers, and HealthPlix’s digital technology platform empowers doctors to make precise diagnoses by providing access to all necessary information. The startup’s platform is available in over 370 cities across India, offering more than 100,000 consultations each day. HealthPlix also provides tailored services for different chronic diseases through its software suite.
Mohan Kumar, the Investment Advisor to Avataar Venture Partners, commented on the recent funding round, stating that HealthPlix’s approach of utilizing doctors as the central point and delivering value to other stakeholders, including patients, pharmaceutical brands, pharmacies, and diagnostic labs, is distinctive and stands out. He added that several healthtech business models have failed to scale, and the team at HealthPlix, led by Sandeep Gudibanda, has what it takes to fulfill the company’s promise.
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