Joining in the rather long list of Health tech startups raising funds this year, is Idea Bubbles. The company has raised Rs. 4.5 crore in its pre-Series A funding round, led by IvyCamp, for its platform that facilitates teleconsultation between doctors and patients.
The current funding round, which was facilitated by IvyCamp, also saw Eureka Forbes joining in as one of the key investors. Along with providing funding, Eureka Forbes will also help in form of operational and strategic guidance. It will work with the startup across sales, distribution, operation and brand building.
Gururaj Potnis, founder of Idea Bubbles, said,
Idea Bubbles is making on-demand teleconsultation with expert doctors mainstream under the brand Eureka Forbes Good Health (EFGH). IvyCamp helped us bring in Eureka Forbes as a strategic investor who is helping us build a differentiated healthtech story by enabling us to leverage the brand and the wide distribution reach of Eureka Forbes field force.
Idea Bubbles was founded in the year 2014 by IIT Delhi-IIM Calcutta alumnus and serial entrepreneur Gururaj Potnis. The company has developed a platform that enables doctors to offer patients tele-consultation services with several offerings such as digitised medical records.
The company claims to have more than 10 million customers, including 1.62 lac doctors. It sees a huge potential in the healthcare enablement sector especially with India’s low doctor-patient ratio.
According to a KPMG-FICCI report, the Indian healthcare market will reach $280 billion by 2020, growing at a CAGR of 16 percent. In this space, Idea Bubbles will be competing against the likes of iCliniq, DocsApp, HealthEnablr, among others.