Thiruvananthapuram, NFAPost: A healthtech startup, supported by Kerala Startup Mission (KSUM), has raised $2.1 million from two major venture capital firms, including a US-based investor behind Facebook and Flipkart, giving an impetus to efforts to digitize healthcare sector.
BestDoc, a fast-growing healthtech SaaS (Software as a Service) startup, raised about Rs 16 crore from US-based Accel and Bengaluru-based Arkam Ventures in their Pre-Series A round. The firm’s existing investor SEA Fund from Bengaluru also participated.
BestDoc is an Intelligent Patient Relationship Management (PRM) system for hospitals and other healthcare providers in India.
Founded by Afsal Salu, Mr Fayaz Bin Abdu and Ms Soudabi Neduvanchery in 2016, BestDoc started off as a marketplace for doctor appointments for tier2 and smaller towns. Later, they embraced a B2B model, realising the potential of digital adoption in healthcare system.
Since 2018, it has partnered with 120 healthcare providers in the country, including Apollo Hospitals, Bangalore; Dr. LH Hiranandani Hospital, Mumbai; Baby Memorial Hospital, Kozhikode; Aster Group and KIMS Global Group.
Commenting on the company’s growth journey, BestDov founder Afsal Salu said the company has built a slew of products, which help hospitals save staffing costs and improve operational efficiency while keeping a patient-centric approach to care delivery.
“In the Covid-19 scenario, BestDoc has scaled up its telemedicine and contactless solutions across several states as healthcare digitization is happening at an unprecedented pace,” said BestDov founder Afsal Salu.
Commenting on the success on the startup, KSUM Chief Executive Officer Sasi P M said Kerala startups have been successful in raising fund even during the times of Covid-19.
“It shows the quality of startups emerging from Kerala and the confidence of investors in them. Startups have raised around Rs 350 crore equity investment in this pandemic situation,” said Commenting on the success on the startup, KSUM Chief Executive Officer Sasi P M said.
BestDoc, which has raised $2.5 million so far including a seed round from angel investors, plans to use the funds to expand across India and develop products for improving the in-patient admission and hospitalization experience.
KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.