Healthcare startup Doceree raises $13.6 million in funding from Creaegis

Healthcare startup Doceree has raised Rs 113.5 crore or approximately $13.6 million as part of its Series B funding round from Indian private equity firm Creaegis. 

The board at Doceree has passed a special resolution to issue 10 equity and 2,4300 CCPS at an issue price of Rs 4,672 per share to raise Rs 113.5 crore, Entrackr reported, citing the company's regulatory filing accessed from the Registrar of Companies.

The latest investment brings Doceree's all-time raise to over $50 million. This includes $35 million from its Series B round, which was also led by Creaegis.

In 2022, the startup raised $11 million in a Series A round spearheaded by Eight Road Ventures.

What does Doceree do?

Founded in 2019 by Harshit Jain, Doceree aims to empower pharmaceutical and life-sciences companies as well as healthcare media agencies.

The startup provides solutions to connect healthcare professionals (HCPs) within their networks with the goal of achieving better patient health outcomes.

Its innovative platform is designed to enhance programmatic marketing within the healthcare sector, positioning itself as the first global network of physician-only platforms.

Partnership 

In May of last year, Doceree expanded its reach by collaborating with Hello Health Group to enter eight Southeast Asian countries: Vietnam, Indonesia, Malaysia, Cambodia, Myanmar, Singapore, Philippines, and Taiwan. The strategic partnership enabled the healthcare startup to broaden its impact and enhance its services across a wider geographical area.

Is it profitable?

According to startup data intelligence platform TheKredible, Doceree saw a 60% surge in its operating revenue, which increased to Rs 26.6 crore in FY23 from Rs 16.6 crore in FY22. However, during this period, its losses also increased to Rs 1.53 crore from Rs 38 lakh.