MedTel Healthcare, an India-based (B2B) and business-to-business (B2B2C) connected care and remote patient monitoring platform, announced on Tuesday that it plans to raise approximately $10 million in Series A.
Existing investors and major venture capital firms have already expressed interest in raising Series A funding, MedTel said in a statement.
The company aims to increase Series A for rapid business expansion, product improvement and the completion of relevant clinical validation studies. He expects to close the new cycle in the current fiscal year itself.
The brand previously raised around $1 million in pre-Series A in August 2021, led by a Singapore-based institutional investor.
He had raised his pre-Series A from a group of angels, HNI, Meta Health (a Singapore-based listed company), Physician VC (a global healthcare-focused venture capital firm founded and managed by doctors) and KIIT-Technology Business Incubator.
“Last year was a real test for us. The healthcare industry has been stretched to unforeseen limits with the spread of the coronavirus pandemic. Health care providers needed to find ways to cope with increased emergency care while providing ongoing, routine patient care. Digital health has provided the solution and offered new possibilities for hospitals, clinics and healthcare delivery organizations to connect with patients,
“While digital health was once a personal choice, the pandemic has made it indispensable. At MedTel, we have proven ourselves and become the best choice for providers such as top insurers, leading hospitals, pharmaceutical companies and for government projects in Odisha and Maharashtra,” said Dr. Lalit Ranjan Manik, a UK-educated public health professional, Co.-Founder and Chief Executive Officer, MedTel Healthcare.
Based in Bangalore, MedTel was founded by Dr. Lalit Ranjan Manik, Dr. Timiresh Das, Dr. Soumyakant Das and Ajit Choudhury, caters to doctors, hospitals, health insurance companies, telemedicine providers, home care providers, governments and others to provide them with plug-and-play remote care and home hospitalization solutions combined with population health management, internet-connected devices objects (IoT) and digital therapies.
The company started with a vision, to ensure that no patient health issue or complication goes unnoticed. To do this, it has built a connected care ecosystem, using IoT-enabled devices and a smartphone application, which is particularly necessary in the management of chronic diseases.
The company aims to address healthcare challenges by increasing patient engagement and compiling patient data so doctors can get insights faster and in real time while motivating patients to stay on the right track. way. Its mission is to make healthcare accessible, affordable and convenient for all patients and to integrate technology and healthcare approaches to ensure that every patient is empowered to improve their life.
“MedTel now provides solutions in Singapore, Indonesia, Africa, North America and partners with leading care delivery organizations in India, with a strong revenue pipeline for the year 2022-2023, and is seeking to raise Series A funding,” said Dr. Soumyakant Das. , IIM Lucknow Alumnus, Co-Founder and Head of Business and Strategic Partnerships, MedTel Healthcare.
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