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Medpho raises US$ 1 million from Cygnus Medicare to strengthen healthcare care services in India
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Our Bureau, Bengaluru
September 14 , 2021
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Medpho, a healthcare technology startup, has raised US$ 1 million in an angel funding round, led by Cygnus Medicare Group, Probal Ghoshal, chairman, Amar Ujala, Dr Shuchin Bajaj, founder & director of Ujala Cygnus and Raghavendra Prasad, founder, Project StepOne. With the received funding, the startup aims to focus on strengthening company’s position in the market, expansion, innovation and provide complete healthcare services to rural and urban consumers.
The company 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. It has impacted 1 lakh plus lives so far. With its online & 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 600+ doctors and 100+ supply partners to facilitate medical services, medicine delivery and diagnostic services.
Its 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 & nurses).
Shashank Saini, founder, Medpho said, “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.”
Dr Shuchin Bajaj, founder director, Cygnus Medicare Group said, “To transform the healthcare industry, it is important to identify grassroots change makers 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.”
While the healthcare industry has seen a boom during the pandemic, providers have often disregarded the existing ambiguities. Medpho has understood the need to not only use technology but also manage technological requirements as per demographic needs. Medpho’s ‘zero denial to healthcare policy is bound to drive transformation across the healthcare system in India.
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