The investors in the funding round include Ajeet Singh Kushwaha of Seekify, Ankur Pahwa (partner at E&Y), Anurag Mehrotra (president and MD of Ford India), Bharanidharan Viswanathan and Nitin Mathur of 91mobiles, Harsh Pokharna and Gaurav Kumar of Okcredit, Kishore Ganji, Kunal Khatter of AdvantEdge in his personal capacity, Sprout Investments, Umang Kumar of Gaadi.com, and Vivek Shah (MD, investment banking, Haitong).
The fund will be used to expand the brand’s geographical presence and integrate it deeper into the diagnostics ecosystem. It will also be used to widen their value offerings for diagnostic centers, thereby, making them a one-stop solution for all their marketing and operations needs, a press statement issued by the startup stated.
Unorganized medical data is one of the major issues in healthcare delivery and also responsible for the wrong diagnosis in many cases. Since its inception in 2018, ConnectedH has been taking initiatives to simplify healthcare by organizing healthcare data. The brand is working towards creating a connected healthcare ecosystem where patients have complete control and 24×7 anywhere access to their organized medical information across various stakeholders including diagnostic centers, doctors, hospitals, etc..
ConnectedH was the outcome of a personal experience of its co-founder Shubham Gupta. “At a time when India’s healthcare system is overburdened, ConnectedH has come up with a solution that can become a gamechanger in the area of digitizing health records. Single-point access to all healthcare data will not only enable diagnostic centers to become more organized but also improve health outcomes,” Kushal Bhagia of First Cheque added.
Rohit MA, co-founder and managing director of Cloudnine Group of Hospitals, who invested through his investment arm Capier Investments, said, “the startup can easily scale up its operations to touch the lives of millions of consumers across the value chain. In a short time, it has already demonstrated the ability to organize diagnostic records of over 10% of Delhi population.”
The diagnostic sector in India is poised for good growth in the years ahead with estimates pegging the market size at $ 15 billion in 2020. Despite the 90% hit on the diagnostic volumes in the immediate aftermath of the nationwide lockdown, ConnectedH’s business crossed pre-lock down levels by July 2020.
Before this funding, ConnectedH raised its first smaller seed round from the top management of CarDekho including Avinash Kumar of Credenc.