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Medical tourism startup Hospals raises $1.5 million from Spiral Ventures and Venture Catalysts

Danish Ahmed, who co-founded e-commerce marketplace Yebhi, is now working on transforming the medical tourism space in India with Hospals. His startup — Hospals has raised its first round of funding worth $1.5 million, led by Spiral Venture and Venture Catalysts.

The company said that it would be using the funds to accelerate its growth towards $10 million GMV by the end of the year. The investment will help Hospals to expand its presence within India, as well as to scale its operations in lucrative international medical tourism markets such as the Middle-East and Africa.

Commenting on this development, Danish Ahmed, Co-founder & CEO – Hospals, said,

At Hospals, we’re combining technology & operations to build a one-stop shop for international patients, connecting them to the best hospitals, providing long stay accommodations and other services, to ensure a great experience. This capital infusion will enable us to accelerate our expansion plans and ensure we’re able to deliver top quality experiences to all patients.

Speaking on the investment, Dr. Apoorv Ranjan Sharma, Co-founder & President – Venture Catalysts, said,

At VCats, we’ve been evaluating various start-ups in the medical tourism space, and we took our bet on Hospals because of the team it brings together. While Danish has proven experience on product & user experience, Obaid & Alok bring 15 years of leadership experience in the medical tourism space. We’re confident that within the next 12 months, Hospals will reach USD 20 million in revenues, making it the front-runner to emerge as Asia’s largest medical tourism company.

Hospals has built and scaled a platform model enabling international patients to get these services and is already managing over 200 patients per month. Through its state-of-the-art platform, it enables medical tourists visiting India to not only choose hospitals, book consultations, surgeries, and buy medicines, but also allows them to manage their various travel and accommodation requirements such as cabs, hotels, and flights etc.

The company also provides auxiliary services such as estimates of medical procedures, visa service, and translators to deliver a seamless experience to its customers in their preferred language. The company was incubated at Technology9labs, and has rapidly expanded across CIS countries, building on its strong reputation for transparency and its dedicated focus on ensuring high customer satisfaction.

According to the company, the team has till date served over 6,000 patients from 14 countries, and with Hospals unique, marketplace atform model, it’s growing rapidly to take a significant market share in this space.