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DocsApp, MediBuddy merge, raise around Rs 150 cr in funding

New Delhi: Health-tech startup DocsApp, a digital consumer healthcare provider MediBuddy, have announced their merger to create a comprehensive digital healthcare platform named "MediBuddy DocsApp".

MediBuddy DocsApp said in a statement that the merged entity raised USD 20 million (around Rs 150 crore) in Series B round of funding led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo (MSIVC) and Beyond Next Ventures.

DocsApp, MediBuddy merge, raise around Rs 150 cr in funding

It added that existing investors, including Milliways Ventures and Rebright Partners, also participated in this round.

"This combined entity will offer a comprehensive platform for our clients that deliver on the promise of a digital healthcare future. As first-movers, we are confident in establishing market leadership and fulfilling our mission to provide quality healthcare to every Indian." MediBuddy DocsApp CEO Satish Kannan said.

The platforms will continue to focus on enabling healthcare services such as online specialist consultations, lab tests, preventive health checks, delivery of medicines, etc to customers across India, according to the statement.

It added that the joint entity will utilize the funds to continue to strengthen its doctor base, patient reach, product, and technology to move a  step closer to its mission of providing high-quality health care to a billion people.

“As a result of its targeted solutions and exceptional metrics, DocsApp has achieved a leadership position. We are pleased to be part of this growth journey and believe that the merger with MediBuddy is the boost it requires to provide quality healthcare to all.” Bessemer Venture Partners MD Vishal Gupta said.

The combined entity is servicing the healthcare needs of over 3 crore Indians, with a partner network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centers and 2,500 pharmacies across the country, according to the statement.

Source: Economic Times

Also Read: Facebook to acquire 9.9% stake in Jio Platforms via Jaadhu Holdings

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