So getting its name to the list of freshly funded startups, Credihealth delivers it big. The Gurugram based health startup Credihealth Raises $1.5 Million Funding in a pre-Series A round.
Credihealth Pvt. Ltd. is a Gurugram based medical assistant company serving since 2013. It started with a noble cause of helping people get the quality and easy health advice and solutions.
Credihealth has four co-founders namely Ravi Virmani, Gaurav Gaggar, Saurabh Uboweja, and Piyush Kumar. All four of them come from strong entrepreneurial backgrounds. Ravi is the founding and managing director of Hewitt Associates. He also was the COO of Max Healthcare. Gaurav co-founded two e-gaming ventures. He currently is an investment banker. Saurabh runs a consulting and design firm and Piyush has his investment firm.
Credihealth Raises $1.5 Million Funding (Rs 10 crore) from Tolaram Inc. and Mountain Pine Capital. The company raised the amount in a pre-Series A round. Bala Swaminathan, one of the earliest investors and a former partner in KPMG which is a well-known consulting firm was also an attendee.
Credihealth intends to use the funds acquired for augmenting its technology and infrastructure. The online health assistant has its plan of expanding its range of services and add some new products. It wants to assist the non-clinical concerns of the patients.
An official statement of the founder and managing director, Ravi Virmani reveals his plan to use the funds. He says, “More than money, it is innovation and steady growth that are needed to survive in the market today. The guidance and mentorship of our investors are what we are looking forward to, for sustained evolution of Credihealth.”
The online healthcare startup has already is claiming more than six website users every month. Along with websites, Credihealth also serves people through its Android app. Users can manage their accounts and keep track of their appointments effortlessly there. This startup has the cooperation of more than 30,000 expert doctors and has helped about two lakh patients. The company operates in 10 different cities of India.
As per the reports, Credihealth generated a revenue of Rs 6 crore and earned a gross revenue of Rs 50 crore for the hospitals in the fiscal year 2016-17. The MOM rate of the firm stands well at 15-18 percent throughout. The further plans of Credihealth are to span to 5 more cities by the end of 2017. For the ensuing fiscal year, it aims to generate Rs. 150 crore as revenue for partner hospitals.
The CEO of Tolaram Inc. believes that the Indian startup landscape has put to show an exceptional growth across the industries. He was pretty happy to visit a high potential healthcare startup in the vibrant Indian market. He further expressed that the Indian healthcare delivery system needs a rejuvenation and patients must get transparent services.
Credihealth collaborates with more than 600 hospitals in some major Indian cities. It also partners with the likes of some big names viz Fortis, Columbia Asia, BLK, Paras, Medanta, and Artemis.
The Indian healthcare sector has immense scopes. Healthcare startups are growing at a high pace. The growth and success of Credihealth are just a single example of how the sector is evolving and flourishing.