After closing on FMCG biggies in India, Baba Ramdev is lining up an online platform for ayurvedic treatment and consultation and further turning its attention to the digital health startup Practo and Lybrate.
Punit Kapoor, director of online pharmacy BigChemist said
“Absence of doctors and pharmacies is the main problem faced by traditional medicine practices such as ayurveda in the country. If Ramdev manages to launch an online consultation platform, he will be one of the forerunners in the business.”
Saurabh Arora, Founder & CEO of Tiger Global-backed Lybrate said
“A company that manufactures its own drugs and sets up a digital consultation platform subsequently will have a multi-fold impact on its business.”
In terms of incremental growth by 2020, India is expected to rank among the top 3 pharmaceutical market. India is second largest exporter of Ayurvedic and medicine in the world.
Patanjali sells FMCG products such as hair care, nutrition, groceries, staples, dental care, skin care, soap and honey. Ramdev is also running a medical college and ayurvedic hospital in his campun Ptanjali Yogpeeth near haridwar, it claims to host thousands visitors a month.
When looking for Patanjali’s spokesperson, no one was available for comment and according to the experts this move will help the company to outreach fast. Patanjali has attained Rs 5k crore in 2015-16 and targeting a turnover of Rs 10k crore in 2016-17.
Other healthcare startup raised funding include, Practo raised $90 million in Series C funding round in 2015 from Sequoia Capital, Sofina and Tencent, Lybrate raised $10 million from Nexus Venture Partners, Ratan Tata and Tiger Global, Haelthtenablr raised about Rs 5.5 crore in seed round of funding, medECUBE a gurgaon based healthcare startup raised about Rs 25 crore in series A round funding from Artiman Ventures.
Patanjali’s competitor includes Nestle Maggi for instant noodles and Colgate for toothpaste, it also competes with Chawanprash, Dabur honey, Emami Fairness cream and Amul cow ghee.