Health Tech platform MedySeva, which provides tele and in person doctor consultations in rural and semi urban areas, has raised Rs 4 crore in a seed round led by Unicorn India Ventures. The funds raised will be strategically deployed to expand MedySeva’s phygital healthcare clinics across tier 2 and 3 cities in India, strengthen its telemedicine platform to service a much higher number of patients, scale up its digital infra, drive marketing campaign to grow awareness and patient outreach and engagement program and lastly, to build and train a strong on-ground operations and clinical support team for scale.
In the last 12 months, the company has delivered over 1 lakh consultations in rural and semi urban areas and has a patient repeat ratio of 60%. It plans to scale this to 2 lakh consultations annually over the next 18 months. The Company has also partnered with leading medical colleges to open satellite clinics for servicing patients in a timely and an effective manner. MedySeva has onboarded doctors from 10+ medical specialties ranging from GPs to Neuro to Gynacs and many more to increase patient service capabilities. With an aim to provide an end to end healthcare ecosystem, the company has also partnered with local pharmacies and healthcare providers.
Commenting on the fund raise, Dr. Vishesh Kasliwal, Founder & CEO, Medyseva, says, “At Medyseva, our mission is simple yet powerful – to make quality healthcare accessible to every Indian, irrespective of location. The current round strengthens our ability to scale our hybrid healthcare model, enabling city-based specialists to reach patients in the most underserved regions. We are now ready to accelerate our next phase of growth by building an integrated doctor and hospital network that bridges India’s healthcare divide.”
Bhaskar Majumdar, Managing Partner, Unicorn India Ventures, adds, “Healthcare access is a big gap in a country like India. We understand this market has several nuances that should be addressed. Ranging from paying for healthcare, OOP expenses, insurance and access to quality doctors. The gap becomes bigger as we go deeper into India. The ratio of doctor to patient needs immediate attention. MedySeva is addressing this by using technology to deliver critical healthcare services to rural and semi urban areas. Their ability to scale quickly with the help of right partnerships and digital infrastructure needed to reach out to people is well thought out and has the potential to scale well.”
Over the next 18 – 24 months, MedySeva plans to launch 500+ phygital healthcare centers across India. The Company also plans to enter 5 new states by leveraging institutional partnerships and state level collaborations. Using its telemedicine platform, MedySeva aims to create a unified rural healthcare ecosystem by integrating city-based doctors, medical colleges, and local healthcare as delivery points. The company will also be onboarding multiple doctor consortiums to establish clinics across rural and semi-urban India and collaborate with private hospitals and healthcare networks to extend Medyseva’s teleconsultation model to their catchment areas.
