Healthtech Startup EasyAspataal Raises INR 4 Cr Investment From Venture Catalysts
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Venture Catalysts, an integrated incubator, and accelerator, announced on Tuesday to have led an INR 4 crore Seed round in health-tech EasyAspataal. The funding round also witnessed participation from K Ganesh and Srinivasan Anamulo from Portea Medical, Sumit Chazed, founder, OTO capital and CredR, Sheela Anand – ex CEO of Vidal Health and VP Star Health Insurance, and serial angel investor Praveen Das.
"There are many small and mid-sized hospitals catering to the healthcare needs of 70 per cent Indians. However, they lack ready access to facilities and services like their larger counterparts. About 90 per cent of these hospitals have poor digital payments infrastructure and provide a huge opportunity for EasyAspataal. The team is well-equipped to capture this white space and translate this opportunity into a profit-making business. We are confident in our investment," Dr. Apoorv Ranjan Sharma, president, and co-founder, Venture Catalysts.
EasyAspataal aims to assist hospitals with a 360-degree digital infrastructure that will help them automate their front-office operations and maximize their revenues by delivering improved patient care.
"Small and mid-size hospitals form 66 per cent of India's healthcare ecosystem and are losing an average of 30 per cent of their annual revenue due to poor infrastructure and administrative challenges. On the other hand, a patient faces various challenges such as identifying the right care, finances, and heavy manual paperwork and lack of coordination between multiple stakeholders in healthcare," shared Manoj Gupta, chief executive officer and founder, EasyAspataal.
"EasyAspataal aims to bridge these gaps in treatment delivery with its one-stop solution, bringing a plethora of services including re-admission, treatment financing, hospital service payments, insurance information, and discharge details on a single platform. The fundraising is an indication of all the hard work put in by our team, and it will help us further in our efforts to make hospitalization easy, seamless, and paperless," Gupta added.
Launched in January 2021, EasyAspataal is already working with 43 hospitals and has received over 500 registrations on its platform.
The company plans to utilize the fresh capital injection to strengthen its technology framework and increase its sales and marketing activities. EasyAspataal aims to onboard 200 hospitals and serve 5000 patients across Maharashtra by the end of 2021.