Healthcare startup Care24 has raised $4 million in Series A led by SAIF Partners and India Quotient.
Founded by IIT Alumni Vipin Pathak, Abhishek Tiwari, Garima Tripathi and Pranshu Sharma in december 2014, the startup is based in Mumbai and provides home healthcare services like physiotherapy, pain assistance, infant care, post discharge care, nursing etc. The services are limited to areas across Mumbai, Navi Mumbai, Vasai-Virar and Kalyan.
The company claims to have assisted 3,000 patients and plans to use the fund for expansion in the city and make themselves the market leader in next three months. Also, after this expansion, they plan to expand in other cities as well where the ground work has already begun.
CEO & Co-Founder of the company Vipin stated that in India, the home healthcare category is seeing a focus now and an investment in developing the standard customer-centric healthcare service delivery system is a must for achieving quality services at scale. Care24 intends on using the investment to boost its service quality, deepen its offerings while tapping the healthcare sector using technology innovations – to provide an integrated patient care.
Starting a home healthcare providing service is not easy, attendants, nurses and doctors, they provide are verified and know how to deal the patient emotionally and medically. Their might come a point where the patient is not able to take care of the problem on an emotional basis, the startup makes sure the doctors and other attendants they send have experience to treat the patient in their hard times.
When asked about what makes your startup stand out from the crowd, Vipin said, “Our strength is an extremely strong execution team and right business model which can scale up while improving service quality which I feel is required to propel a brand in the home healthcare space. We’re focusing on being on obsessively customer centric, ensuring the individual customer needs are taken care of. These factors have had a big bearing on the investor’s’ decision to bet on us.”
Last year in October the company had raised $350,000 from its current investor India Quotient to train its staff and expand their services in Mumbai.
The company is competing with Bangalore based healthcare startup Portea, which raised $37.5 million last year from International Finance Corp., Qualcomm Ventures and VenturEast. It has already raised $46.5 million. They also acquired Medybiz Pharma in November last year and this show of strength has placed Portea on top of the segment.