[Funding Alert] Healthtech Startup Prescribe Raises Seed Fund From Titan Capital And Others
The funds will be used to grow the sales team, engage in strategic partnerships with pharmaceutical companies in order to reach over 500 hospitals in the next 6 months
Healthtech start-up Prescribe on Thursday announced it has raised INR 1 crore in a seed funding round led by Titan Capital with other group of investors including AngelList syndicate and Curofy founders.
The healthtech company offers a Shopify model for healthcare institutions such as hospitals, clinics, pharmacies and labs, among others. The funds will be used to grow the sales team, engage in strategic partnerships with pharmaceutical companies in order to reach over 500 hospitals in six months.
“We are delighted to receive this tremendous support from the investors who not only provided us their financial support but at the same time who understands our business model,” said Nived Narayanan, co-founder and chief executive officer, Prescribe.
“India has a huge divide in terms of care provided in the rural areas and there is a huge push by the government to solve this with the new National Digital Health Mission (NDHM) policies. We are at the forefront to provide digital tools required to enable world class medical care in every village of the country. This will help us to make every effort to identify challenges in the Indian healthcare industry and solve them with technology,” Narayanan further added.
The company provides services to hospitals by leveraging online platforms such as WhatsApp and help them to increase revenue, increase efficiencies and customer delight.
"Prescribe has really done a commendable job of bringing hospital-OPDs online and giving better access to patients. With everything transforming to digital, especially amidst COVID-19, Prescribe is very relevant for the healthcare industry. We are really impressed with the thought process and vision of the team in providing healthcare solutions by leveraging technology,” remarked Titan Capital partner Bipin Shah.
Its AI (artificial intelligence)-based platform enables seamless interaction between hospital/clinic administration, doctors and patients without the need of downloading any new app. It also enables healthcare institutions to manage patients, increase medicine sales and lab bookings.
“Prescribe is enabling digital healthcare delivery by connecting doctors to their patients on WhatsApp. This helps doctors save time and offers patients convenience and choice of quality healthcare in the comfort of their own homes. We are excited to back them as they now scale their innovative offering across India,” added Firstcheque.vc chief executive officer Kushal Bhagia.
Prescribe entered the healthcare space in 2018 post conducting one on one interviews with over 300 doctors across India and now its services are trusted by over 50 hospitals including 5 of the largest hospital chains in the country.