Zoctr, a fully integrated healthcare aggregator platform, aligning itself to address Home Health, Telehealth and Remote Monitoring based services, has announced closure of its third fundraising round, in a span of nine months.
The round has been raised from the Times Group (Bennett Coleman & Co Ltd.) under its innovative Brand Capital Incubator Funding Model that provides funding for long-term brand building and advertising needs of growth oriented companies against equity participation.
Zoctr aggregates Home Health, Telehealth & Remote Patient Monitoring Services targeted at Post Acute, Chronic & Terminal Patients including Cancer, Stroke, Cardiac, Kidney and Post Surgery Patients.
Interestingly, this is the third round of funding raised by the company in the last nine months, and has been raised specially for marketing and awareness campaigns. The company plans to use these funds mainly for print, medianet and radio ads for creating category awareness for Home Health as well as brand awareness for the Zoctr brand.
The company has ambitious plans of creating a 18-city home health operation touching a whopping 45% of India’s population in the next few years riding on the back of deep medical domain expertise, robust operations and a fully integrated technology platform and mobile app. And if Zoctr does achieve that number, that would mean bringing close to a staggering 500 Million people in direct contact with basic as well chronic healthcare services. Thats some numbers !
Talking about Times Group’s stratgeically important investment into her company, Zoctr founder Nidhi Saxena says,
The Times Group’s impeccable credibility, outreach and media mix coupled with the timing of the deal shall help Zoctr create a high impact launch and reach out to a Pan-India audience thereby enabling strong brand awareness and rapid adoption of home healthcare services by consumers.
With a team of 100 employees, the company has operations in Mumbai, Delhi, Kolkata, Pune and Ahmedabad and is now gearing up for scaling to a level where it will initiate pan-India operations. Zoctr is expecting to raise a Series A funding round to the tune of $10 million in coming months, and will have to fight a tough battle against the likes of more heavily backed Practo. Other notable competitors include Lybrate and Credihealth, almost all of whom doing similar work in the healthtech field.
