Healthledger diagnostics raises seed funding from league angel investors and venture capitalists
Healthledger Diagnostics has raised a seed round of an undisclosed amount from A-League angel investors and venture capitalists. The transactions have been enabled by Quadra Advisors, and include VCs Nitish Mittersain and Vikash Mittersain of Nazara Technologies Ltd., Narendra Firodia of Sohamm Group, holistic integrative medicine and lifestyle coach Luke Coutinho, Netgraph Investments LLC Dubai, Amit Jain (Rewired Ventures UK), Balesh Sharma (CEO, PPF Telecom), and Vishwanathan Iyer. The company has generated USD 1 Million in revenue in its inception year, having reached 25 cities in eight states and having touched more than 100k lives. With this fundraise, the brand aims to target a 7X growth with more than 150 operational centres in 15 states across 50 cities by FY 23.
Healthledger is transforming unorganised diagnostics centers in India by bringing them under its umbrella and enabling them with tech, business, workforce training, integrated Lab Information Management System and procurement while creating an even network of a supply chain across the nation for all healthcare providers as well as end consumers. The company aims to become the largest network of standardised full stack diagnostics and provide constant quality and even pricing from tier one to tier six cities. They have enabled diagnostic centers to grow their revenue by 23 per cent in the span of six months.
Currently, Healthledger works with 23 insurance companies, Health Aggregators, TPA companies, and over 100 corporates across the country, and their major focus is enabling tier two and tier three cities with quality healthcare. The company has already identified 5,000 centers with the intent of scaling nationwide, and by 2025, is projected to launch 3,000 locations, in both India and its neighboring countries to become the largest player in the preventive healthcare supply ecosystem.
The founders Dr. Darshan Chandak, Sambit Ghosh, and Rupali Mantri came together to address the gap in the market given the fragmented preventive diagnostics space, and plan to organise it through technology, business, integration, and standardisation. Dr. Chandak brings his knowledge of core healthcare R&D, quality assurance, and clinical protocols, while Sambit manages business development and brand expansion along with finance ops, and Rupali, who comes from the hospital management space, contributes to the core operations and clinical ops.
Commenting on the fundraise, Healthledger Co-Founder Dr. Darshan Chandak said, “We are majorly focused on creating an even supply ecosystem across the country for all players in the healthcare space so that there is consistency in service delivery and integrated module of reporting along with price transparency. With this aim, we will use the funds to expand our clinics and enable more technology, bringing accessible and affordable healthcare.”
Narendra Firodia known for his investments and contributions in the health-tech sector, said, “I am very confident that Healthledger’s universal and easy-to-adapt model will make its mark in creating a standardized network of diagnostics centers in all major towns in India. It will evolve as a one-stop-shop partner for all corporates, healthcare providers, aggregators, and other players of the healthcare ecosystem.”
Nitish Mittersain said, “The promise of providing quality life-saving diagnostics in remote parts of India is exciting and life-changing. This also impacts the landscape of the Indian healthcare ecosystem, taking us a notch higher.”
Luke Coutinho adds, “With COVID-19, we realise the importance and availability of basic diagnostics. With these services and offerings, Healthledger will bolster private medical infrastructure throughout the length and breadth of the country, while providing access to quality diagnostics beyond the metros.”
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