AlternaCare a Delhi based healthtech startup has raised $500k seed funding from Eros Labs. The funds will be used to build its team, product development, branding and geographic expansion.
Karan Bedi, CEO of Eros Labs said
“Access to high quality health care is a very significant challenge in India. This is a fantastic team and a unique model because of its ability to tap into all segments of the population, not limited by access to the Internet. Growth has been great over the last three months.”
It was founded in 2016 by Abhishek Dwivedi and Karan Bedi. It provides remote consultations to patients via multiple platforms including video call, phone, Whatsapp and SMS. It doctor’s panel includes specialists in Allopathy, Homeopathy, Psychology and Ayurveda. For telephonic consultations it charges a fee of Rs 200. Payment can be made through online, mobile balancing or via cash pick-ups across 4000 pin codes in India.
Abhishek Dwivedi, co-founder, AlternaCare
“Unlike other industries, in healthcare, majority of the people require personal handholding right from the diagnosis at the primary care level to the best treatment at the tertiary-care level. Using cloud telephony technology and developing a world class and highly secure tech product, we are India’s first healthtech startup that has removed the dependency on the internet for doctor consultations as well as facilitating medicine delivery, lab tests, etc.”
The platform allows a connection between patients and doctors, as well as a number of value added services including frictionless payments, electronic health records, data access & more.
Other players in the market include eKincare, Practo, Curofy, medECUBE, Qikwell, Ziffi, etc.
By 2020, market size is expected to reach $280 billion, and healthcare market is expected to grow at a CAGR of 22.9%.