Medinfi’s team. Photo credit: Medinfi.
Bangalore-based startup Medinfi Healthcare has raised its sixth round of angel investment – US$100,000 – from a slew of investors based in Singapore and Qatar.
With this round, the startup that finds doctors and hospitals through a web and mobile app has raised over US$600,000 in all.
Existing investors – Singapore-based angel investor Evan Lim and professor at India’s XLRI business school Ram Kumar Kakani – participated in this round of funding, along with Vinod Martin, COO of a Singapore-based IT services company, and XLRI alumnus Kanchan Ghoshal.
The startup plans to use the funds to grow its user base and explore new markets. It is currently present in 25 Indian cities, including Bangalore, Delhi, Mumbai, and Pune. It now plans to double that presence to 50 cities in the next nine months.
Part of the funds will also be used to upgrade the blogging platform and grow the content from 100 to 1,000 posts in the next nine months. “This is our way of ensuring trust and grow user base based on that,” Medinfi founder and CEO Ravi Shankar Mishra told Tech in Asia.
Medinfi recently crossed the 500,000 user mark, ahead of the company’s March 2017 target. On the Google Play store, the app has over 100,000 downloads, while the mobile website has over 400,000 users, said founder Ravi. An iOS app is expected by June 2017.
Launched in 2014, Medinfi has maintained a model that is independent of doctors and hospitals. The application automatically detects the current user location and displays the nearest doctors, hospitals, and clinics. The app presently lists over 12,000 verified doctors, clinics and hospitals. Unlike some of the well-funded startups in the space, such as Practo, Lybrate, and HelpingDoc, Medinfi doesn’t facilitate appointment booking.
“There are over 150 million internet users. Out of them, only about 6 million seek doctors online. There is a lot of room to expand and we want to progress on trust. We want to stay independent of doctors and hospitals as long as we are functional,” Ravi said.
Medinfi’s last fund raising was in July 2016, when it received US$200,000 in an angel round from Mudit Saxena, senior vice-president of Genpact, and Evan Lim.
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