Gurgaon-based healthtech startup ConnectedH today said it has raised $2.3 million in a seed funding round led by Kalaari Capital and Incubate Fund India.
The funding round also saw participation from Anicut Capital and marquee angel investors like Kunal Shah (Cred), Farid Ahsan (Sharechat), Roman Saini & Gaurav Munjal (Unacademy), Ashish Mohapatra, Ruchi Kalra (OfBusiness), Mars Shot Ventures, Varun Laul (Investcorp), Sweta Rao (White Cap Ventures), Raghavendra Prasad (Project StepOne & QikWell), Dr. Shuchin Bajaj (Cygnus Hospitals), and existing investors First Cheque and Point One Capital.
Founded in 2018 by IIT Kanpur alumni Shubham Gupta, Rahul Kumar, and Suresh Singh (IIM Bangalore alumni), with an aim to connect different sectors of the healthcare system and give the patients complete control over their information.
ConnectedH is a full-stack enabler for diagnostic centres helping them focus on testing while taking care of all other aspects. The online platform provides solutions like CRM, online reports, and on-demand Phlebotomists to the diagnostics partners helping them extend their options along with online booking and online reports.
With this round of funding, ConnectedH will expand its product portfolio, invest in technology, and expanding its presence in Delhi/NCR region, it said.
“We’re happy to partner with Kalaari Capital and Incubate Fund India in our journey. The diagnostics sector has been insulated from all the tech advancements over the past decade. However, with growing competition and increasing patient expectations, there is an organic shift to adopt tech solutions,” the founders said in a statement.
“We grew 10X over the past year and this round will help us accelerate our efforts to create a technology-driven platform for diagnostics,” they added.
The healthcare startup is currently working with over 150+ diagnostic centers in Delhi. Apart from this, It is also creating an API stack for diagnostics helping labs get more business, serve customers at home or lab with differentiated experience, deliver reports online and on WhatsApp in a seamless fashion, drive better retention through our CRM and go online with just a few clicks.
“We are strong believers in ConnectedH’s vision to build a full-stack platform for diagnostic labs in India. The diagnostics industry in India is a $10B highly fragmented market with only a few organized players,” Kiran Vasireddy, Partner at Kalaari Capital sad.
“ConnectedH platform is providing all the relevant tools to help the small and medium diagnostic labs go digital. We are very impressed with the deep understanding of founders on challenges of the diagnostics industry and excited to partner with them in building ConnectedH,” he adds.
According to ConnectedH, there are over 100,000 diagnostics centers in India, of which only 15% or less are operating in the organized market. On the other side, more than 85% of the diagnostic centres face myriad levels of challenges ranging from lack of technology, retrograded operations with the inability to serve home collection demands.