An Udaipur-based startup Karma Healthcare has raised equity funding of upto INR 3 crores from a slew of investors. Ankur Capital, Ennovent Capital and Beyond Capital have repeated their investments, while Karma has gained new investors in investment firm, 1Crowd, angel investors like Anil Chatta.
Karma Healthcare was started by Jagdeep Gambhir, who is an alumnus from ISB Hyderabad. The firm plans to provide high-quality healthcare services to people without access to healthcare facilities at affordable prices. They claim to use a differentiated business model. They use real-time online video consultations in order to provide a humanistic approach to patients. They have 10 e-Doctor clinics as well as 50,000 consultations in Rajasthan and Haryana.
Karma has produced a technology that enhances clinical decision making, leading to high-level diagnosis. IndianWeb2 quoted Jagdeep Gambhir, CEO of Karma Healthcare, “We are grateful to all our investors for reposing faith and commitment in our work. This new funding will help us scale our operations as well as enhance our technology offering to improve quality of care and provide great patient experience.”
Jagdeep Gambhir, has worked with Goldman Sachs in India and the US and draws upon his experiences in rural healthcare.
“Karma has vividly demonstrated that a viable business model, with enormous socio-economic impact can indeed be targeted at the lower half of the pyramid. The simplicity with which they combine knowledge and technology, makes for a unique venture. We look forward to working with them as they enter a very exciting phase of growth,” IndianWeb2 quoted Anil Gudibande, co-founder of 1Crowd.
As The Tech Panda recently noted in an article, investment in AI in Indian healthcare is rising steadily, and Karma Healthcare is a good example of that. In the same vein, the renowned hospital chain, Apollo, has recently released seed funding to help startups like Karma.
Apart from Karma, 1Crowd has also invested in Creditas Solutions, a FinTech concern, Idea Bubbles another healthcare firm, Nanosniff Technologies, which develops nanotechnology, Nuvepro, an enterprise technology firm, and Zipgrid, a tech-led managed service.
The report also reveals that India has a wide gap between medical personnel and people seeking access to medical attention. The recent funding will help Karma Healthcare bridge that gap by making reliable, affordable medical attention accessible to a large under-served section. Organizations, such as the Tata Trusts, UBS Optimus Foundation, and WISH Foundation, are also supporting Karma.
Similar to Karma, other healthcare tech startups that have raised capital are KiviHealth, raising $400,000 from Claris Capital and Chandigarh Angels, as well as $350,000 raised by Kolkata’s EasyBuyHealth.