Heathtech startup Docplix raises Rs 1.2Cr in bridge round led by Inflection Point Ventures

Healthtech startup Docplix, which is focused on creating a more efficient, transparent, and patient-centric healthcare system in India, has raised Rs 1.2 crore in a bridge funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. 

The startup plans to use the raised capital for product development, AI integration, and market expansion.

It will focus on enhancing its EHR system, incorporating advanced AI capabilities to improve decision support and patient care, and expanding its market reach to bring innovative healthcare solutions to bigger clinics and hospitals.

Who are the founders?

DocPlix was founded by a team of seasoned professionals: Dr Varun Garg, Co-Founder and CEO, a dentist with over ten years of experience; Aayush Garg, Co-Founder and CTO, a B.Tech in CSE with over eight years of experience building and scaling tech for startups; and Dr Ajay Shukla, Co-Founder and CIO, an endocrinologist with a DM from SGPGI, Lucknow, and over eight years of experience in the field.

What does Doxplix do?

DocPlix operates in the healthcare industry with a mission to digitize health records for 1.4 billion Indians. The startup has built an ABDM-compliant Electronic Health Record (EHR) system that ensures secure and interoperable management of patient data. 

Its integrated Decision Support System (DSS) helps healthcare professionals make informed decisions through data analytics.

Additionally, innovative visualization tools make patient data easy to understand, enhancing patient care and clinic efficiency, it said.

Serving in tier 2 and 3 cities

DocPlix said it serves over 2,000 doctors and extends its reach through programs and remote clinics in tier-2 and tier-3 cities to address healthcare needs in underserved areas. 

The startup claims to have a renewal rate of 93%. It plans to expand globally, starting with the USA in late 2024, aiming to enter lucrative and technologically advanced markets to amplify its impact in the healthcare sector further.

“Our goal is to become the leading EHR provider in India, leveraging advanced technologies like AI and data analytics to transform healthcare delivery. With a strong foundation and the support of IPV, we are poised to scale globally, starting with the USA, while continuously innovating to meet the evolving needs of healthcare professionals and patients," said Dr. Varun Garg, Co-Founder & CEO of Docplix.

The current landscape of EHR market 

In 2022, the Indian Electronic Health Record (EHR) market was valued at approximately $414 million and projected to reach $900 million by 2030. Globally, the EHR market was valued at $25 billion in 2022 and is expected to grow to $40 billion by 2032. 

Meanwhile, the Indian Lifestyle & Wellness market stood at $1,300 billion in 2024, while the global market reached $5,546.0 billion in 2023 and is forecasted to reach $9,245.8 billion by 2033.

Vinay Bansal, Founder & CEO of Inflection Point Ventures, said, “The government’s initiative Ayushman Bharat Digital Mission to build a health ID repository of all citizens for easy exchange of information between the doctors and patients is not a small feat. DocPlix is on a high mission to help citizens and healthcare providers to integrate into a tech-enabled healthcare system that can substantially improve patient diagnosis and treatment. At IPV, we have always invested in companies that are using tech for good to bring a real-life change in the lives of the users. DocPlix's powerful platform, wellness programmes and addressing access to healthcare in tier 2 and 3 towns drove our decision to invest in the company.”