AlternaCare, a medical startup which provides remote consultation to patients, has today announced that it has raised around $500,000 in its seed funding round from Eros Labs.
With the funds raised in this round, the company is looking to invest money in product development, and further expanding its team. It is also planning to spend money on branding, along with marketing products to the targeted audience and expanding its business geographically.
Commenting on the current funding round, Karan Bedi, CEO of Eros Labs, said,
Access to high quality health care is a very significant challenge in India. This is a fantastic team and a unique model because of its ability to tap into all segments of the population, not limited by access to the Internet. Growth has been great over the last three months.
Abhishek Dwivedi, co-founder of AlternaCare, also adds his two pence on the funding and says,
Using cloud telephony technology and developing a world-class and highly secure tech product, we are India’s first health tech startup that as removed the dependency has removed the dependency on the Internet for doctor consultations as well as facilitating medicine delivery, lab tests.
Founded in January 2016, AlternaCare is a frictionless, omnichannel telemedicine service that allows users to connect with a high quality doctor within minutes. It provides remote consultation to patients over multiple platforms like phone, video call, SMS and WhatsApp.
It uses its proprietary AlternaAssist technology platform that allows for an instant connection between doctors and patients, along with other services like secure electronic health records, online payments and data access.
The healthcare market in India is expected to grow at a CAGR of 22.9% and the market size is expected to reach $280 billion by 2020. The digital healthcare market in India is valued at more than $1 billion and is set to cross the $2 billion mark by 2020.