LabsAdvisor, a Delhi-based discovery platform for diagnostic labs which helps discover pathology or radiology labs in your neighbourhood, has raised $156,000 in angel funding from a group of Indian and international angel investors, reports Mint.
The company has not revealed the names of the investors. However, they are members of some of the most established financial companies like Barclays Capital, Credit Suisse, Deutsche Bank and Strategy, etc.
With fresh amount raised in this angel funding round, the company is planning to utilize it to expand its operations as well as to enhance its technology for the platform.
Founded in February 2015 by Ashish Bhatia and Rahul Shukla, LabsAdvisor offers diagnostic test-booking and online report storage services to its users along with options for diagnostic tests, genetic test, blood test, MRI, X-Ray, CT Scan, etc. based on parameters like quality rating, pricing, location, etc.
Depending on the patient’s testing needs, the company’s search engine will combine parameters to help them choose a lab from their neighborhood that suits their needs. It claims to have strict standards for quality, transparency and reliability.
One can easily book the appointment through the company’s website or by calling on the helpline number. It has over 50 labs in Delhi registered on its platform. It is now planning to expand its operations to other Delhi-NCR regions.
As per the company, large corporate labs cover less than 20% of the market and the remaining market comprises of smaller, individual or regional, players. Ashish Bhatia, CEO of the company believes that their offering is much needed in the unorganised Indian diagnostics space.
The service provided by LabsAdvisor though, aren’t new to the Indian healthtech segment. Practo, perhaps world’s most heavily funded heath tech startup, which recently raised $90 million in a Series C Round led by Softbank, is also looking to enable similar features on its app.