Karma Primary Healthcare Raises Series A Funding
- ByStartupStory | June 27, 2023
Karma Primary Healthcare, an impact-first, technology-enabled healthcare startup, has successfully raised Series A equity funding from a consortium of investors led by Innospark Ventures, 1Crowd, Innovative Directions, Aanshi LLP, Social Innovation Circle, Sunil Mishra, and other prominent angel investors. The organization has also secured support from Grand Challenges Canada (GCC) through its Transition to Scale program, which is funded in part by Global Affairs Canada.
With a vision to leverage digital technology as an enabler, Karma Primary Healthcare aims to address the healthcare divide by providing accessible and quality healthcare services in rural areas. Over the past eight years, Karma has developed a primary healthcare delivery solution that offers real-time online video consultations and operates facility-based, paramedic-assisted clinics.
Jagdeep Gambhir, Founder and CEO of Karma Primary Healthcare, expressed the importance of equitable healthcare access, stating, “Access to quality healthcare should not be a privilege limited to urban areas. Digital innovations to bridge this healthcare divide present a significant opportunity. Through the last eight years, we at Karma have honed the necessary skills and operating model to deliver primary healthcare to rural India. We look to expand our clinic footprint to 80 clinics in seven states. We also look to create linkages with secondary and tertiary players to create a seamless patient experience. We are thankful to our incoming and existing investors that have shown faith in our business model, its impact, and potential.”
Deepak Verma, Operating Partner at Innospark Ventures, highlighted the significance of Karma’s approach in addressing the healthcare challenges faced by rural populations. He stated, “We believe Karma is addressing a significant challenge: how to provide longitudinal care, with specialist MD consultations as and when required, to rural populations, without expecting patients to travel for hours to access quality care. Over time, as Karma’s footprint continues to grow, the company will provide better diagnostics and care, for more diseases, at more affordable prices, while substantially improving patient outcomes.”
The funding raised through the Series A round will enable Karma Primary Healthcare to expand its clinic network to 80 clinics across seven states. By creating linkages with secondary and tertiary healthcare providers, the company aims to offer a comprehensive and seamless patient experience. With a focus on improving patient outcomes, Karma plans to enhance diagnostics and deliver affordable care for a broader range of diseases.
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