Modasta a Bangalore based health content portal and queries platform has raised $1.5 million from Mauritius based HNIs- High Net Worth Individuals.
The funds will be used for technology up gradation, talent acquisition, business growth and marketing outreach activities.
Modasta was founded in 2015 by Bikram Barman, former Accenture and Yahoo executive, his wife Dr Geetanjali Barman and Pankaj Pandey an IIM alumnus. It provides access to quality health information through videos and articles. It claims to have more than 1 million registered users and offers credible health content curated by Indian doctors across 5 regional language including Telugu, Hindi, English, Malayalam and Kannada.
With its digital platform it provides value to customers, help transform their healthcare digitally and enrich its user experience. It has a team of 30 members and it plans to double the head count by 2017
Bikram, Co-founder and CEO of Modasta said
“The healthcare industry is witnessing a robust growth trajectory, and at Modasta, we are aiming for a large slice of this lucrative $280 billion industry. As the first of its kind initiative in India, Modasta will service the length and breadth of the country with pertinent content on a plethora of subjects from lifestyle diseases, mental health, women’s health, men’s health, sexual health and pediatrics amongst others.”
Other players in this segment include Portea, Practo and Tiyo. In 2016 Portea raised $37.5 million in its series B round of funding. In 2015 Practo raised $90 million in its Series C round of funding from Tencent. Other investors participated in this round include Google Capital, Sofina, Matrix Partners, Sequoia Capital, Yuri Milner and Altimeter Capital. Tiyo raised $120k in angel funding.