MUrgency, a pharma-tech startup which provides emergency response service, has received investment from Wipro’s scion Rishad Premji. This investment comes before a planned road show to raise funds globally before the end of this financial year in March.
Rishad Premji isn’t the only high-profile investor in the company. Earlier, Ratan Tata, chairman of Tata Sons and Infosys co-founders Kris Gopalakrishnan and SD Shibulal had also invested in the pharma-tech startup.
While the amount invested by Rishad Premji has not been revealed, some sources have told ET that the investment is more than $100k, that roughly converts to around Rs 68 lakh.
Rishad’s investment in the startup has been made in his personal capacity outside of PremjiInvest or Wipro. Investment bank UBS has put MUrgency on a watch-list as a potential disrupter in 2017 and intends to introduce the company to its key investors later this year.
The Silicon Valley-based startup provides emergency response services by tying up with professionals on location and bills on its portal like Uber or Amazon that act as facilitators to reach a service.
The company is already present in two regions, and it is planning for a large-scale expansion soon. In the current phase, the startup plans to roll out its services to NCR, Mumbai, Bangalore, Chennai, Hyderabad, and Kolkata. It also aims to launch in Mexico within this financial year.
A user on the MUrgency portal is presented with a map of doctors, nurses, and paramedics in their vicinity. He or she can then request for service and key in the nature of the emergency, for example accident injury. Following this, a registered care giver can receive the call and come to the location of the emergency within the time-frame estimated by the system.
In 2004, Shaffi Mather, Sweta Mangal, and their three friends founded Ziqitza Healthcare Limited. Starting with one ambulance, it became the largest emergency ambulance service in the developing world with operations in 17 states in India and the Gulf (Middle East).