Medpho Raises $1 Mn From Cygnus Medicare Group And Others

The startup aims to focus on strengthening the company's position in the market, expansion, innovation and provide complete healthcare services to rural and urban consumers

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Healthcare technology startup Medpho, on Tuesday, announced that it raised $1 million in an Angel funding round led by Cygnus Medicare Group, Probal Ghoshal, chairman, Amar Ujala; Dr. Shuchin Bajaj, founder and director, Ujala Cygnus and Raghavendra Prasad, founder, Project StepOne.

Medpho

With the funding, the startup aims to focus on strengthening the company’s position in the market, expansion, innovation and provide complete healthcare services to rural and urban consumers.

“We are fortunate to find investors who believe in Medpho’s vision, and backed us on this novel project. We will be utilizing the investments to expand our team and scale up our technologies and product innovations. Through our strategic alliances, technological advancements and offerings we want to create a value-based healthcare brand for communities with an emphasis on affordability and convenience,” said Shashank Saini, founder, Medpho.

Medpho is a digital health startup founded by Shashank Saini in October 2020, aiming to disrupt the current healthcare industry by being a one-point solution for all essential healthcare needs for consumers. The startup provides unlimited telephonic consultation for a lifetime with zero wait time to all the communities. Medpho has impacted 1 lakh plus lives so far. With its online and offline services, the company offers the consumers an integrated solution for connecting to doctors, pharmacies, ambulances, medical equipment and diagnostic services. Medpho has partnered with more than 600 doctors and over 100 supply partners to facilitate medical services, medicine delivery and diagnostic services.

“We believe Medpho with its affordable and quality healthcare services will create a high impact on the Indian healthcare ecosystem. To transform the healthcare industry, it is important to identify grassroots changemakers and back them with sufficient resources. Medpho is one of the key players in the foundation of a robust healthcare system in India with its nucleus of providing affordable and accessible medical care across the country,” added Dr Shuchin Bajaj, founder director, Cygnus Medicare Group.

Medpho’s customers include the Sequoia Capital India LLP, British High Commission, Midland Credit Management India, Crown Plaza Hotel & Resorts, Shoppers Stop Ltd. etc. They also work with Government bodies in providing last-mile healthcare services such as Teleconsultation, medicine delivery, and building COVID care centres and manpower supply (paramedics and nurses).