Cygnus Medicare Group, others leads $1M round in healthtech startup Medpho

Noida-based health-tech startup Medpho today said it has raised $1 million in an angel funding round led by Cygnus Medicare Group, Mr. Probal Ghoshal, (Chairman of Amar Ujala) Dr. Shuchin Bajaj (Founder & Director of Ujala Cygnus), and Raghavendra Prasad (Founder of Project StepOne).

Medpho will be utilizing the raised funding to boost its market position, expand, innovate, and provide comprehensive healthcare services to rural and urban customers, the statement said.

Speaking on the development, Shashank Saini, Founder of Medpho said: “We are fortunate to find investors who believe in Medpho’s vision, and backed us on this novel project. We will be utilizing the investments to expand our team and scale up our technologies and product innovations. Through our strategic alliances, technological advancements, and offerings we want to create a value-based healthcare brand for communities with an emphasis on affordability and convenience.”

Medpho, which was launched in October 2020 by Shashank Saini with the goal of disrupting the present healthcare market by providing consumers with a one-stop shop for all of their key healthcare needs. The startup provides unlimited telephonic consultation for a lifetime, with zero wait time to all the communities. 

The startup focuses on providing consumers with an integrated solution for connecting to doctors, pharmacies, ambulances, medical equipment, and diagnostic services through its online and offline services.

To facilitate medical services, medicine distribution, and diagnostic services, Medpho has worked with 600+ doctors and 100+ supply partners.

Sequoia Capital India LLP, British High Commission, Midland Credit Management India, Crown Plaza Hotel & Resorts, Shoppers Stop Ltd, and others are among its top notable clients.

Apart from private companies, It also collaborates with government agencies to provide last-mile healthcare services like teleconsultation, prescription delivery, and the construction of COVID-19 care centers and staff (paramedics and nurses).

“We believe Medpho, with its affordable and quality healthcare services, will create a high impact on the Indian healthcare ecosystem,” said Dr. Shuchin Bajaj, Founder Director, Cygnus Medicare Group.

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• Elda Health raises $1.5M seed funding led by Avaana, Orios, others

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