Karma Healthcare, a Rajasthan-based startup in the technology-led healthcare space, has raised INR 3 crore [~USD 500,000] in equity funding from early stage investment firm 1Crowd, existing investors Ankur Capital, Ennovent Capital and Beyond Capital, and angel investors including Mr Anil Chatta [an experienced healthcare professional based in the Middle East].
Founded by ISB Hyderabad alumnus Jagdeep Gambhir, Karma Healthcare aims to provide high quality, affordable, equitable and reliable healthcare to India’s underserved population via a differentiated business model.The company has combined the human touch of a nurse with the scalability of shared doctor services via real-time online video consultations, and delivers healthcare to consumer via its e-Doctor clinics. Karma Healthcare’s overarching vision is to disrupt the healthcare landscape, by establishing a pan India network of healthcare clinics.The company thus seeks to make definitive large scale impact and in-turn take significant steps towards ‘healthcare for all’.
Karma has completed over 50,000 consultations, and currently operates 10 e-Doctor clinics in the states of Rajasthan and Haryana which deliver a comprehensive ecosystem of clinical treatment, quality medicines and diagnostics at competitive rates. With the new funding, more than 10 Lakh patients in the underserved communities of India will be able to access quality healthcare services through Karma’s network of e-Doctor clinics.
The company has developed an in-house technology suite that helps it deliver standardized care, including a bespoke Clinical Decision Support System, and is extending its capabilities to deep learning driven diagnosis, treatment and monitoring. Karma is supported by marquee organizations such as the Tata Trusts, UBS Optimus Foundation and WISH Foundation.
Jagdeep Gambhir, CEO of Karma Healthcare, said
We are grateful to all our investors for reposing faith and commitment in our work. This new funding will help us scale our operations as well as enhance our technology offering to improve quality of care and provide great patient experience.
Anil Gudibande, Co-founder of 1Crowd, said
Karma has vividly demonstrated that a viable business model, with enormous socio-economic impact can indeed be targeted at the lower half of the pyramid. The simplicity with which they combine knowledge and technology, makes for a unique venture. We look forward to working with them as they enter a very exciting phase of growth.
Ritu Verma, Co-founder and Managing Partner at Ankur Capital, said
Karma’s deep engagement and understanding of healthcare delivery has allowed it to develop an impressive healthcare analytics and decision support system. We look forward to working with Karma in rolling this out to a much wider set of consumers in the next phase of their growth.
1Crowd is an early stage investor and has made over 15 investments in areas such as FinTech, healthcare, education, enterprise technology and deep technology [including BioTech, NanoTech and CleanTech]. 1Crowd recently announced the first close of its maiden venture capital fund. Ankur Capital is an early stage venture capital fund investing in opportunities created by rising aspirations and digital access for the next billion Indians. Ankur Capital looks for innovative business models that can address core challenges in agritech, food, healthcare, skill development and education among others. For more information, please visit 1Crowd