Doctor consultation startup DocsApp raises funding

Posted on December 14, 2017

Phasorz Technologies Pvt. Ltd. is Bengaluru – based healthcare startup which owns and runs the mobile app, DocsApp. The startup announced yesterday (13/12/2017) that it has raised US $7.2 million (Rs. 46.4 crores) in Series A round of funding from Bessemer Venture Partners. Other VC firms like TechMatrix Corporation and DeNA networks are also said to have participated in that round of funding. Read more on Healthcare

Phasorz Technologies was founded in 2015 by IIT Madras alumni, Satish Kannan and Enbasekar Dinadayalane. DocsApp allows patients to chat with anyone of the hundreds of doctors it has tie-ups with using its chat interface. Patients can share their medical records, prescriptions, diagnostics reports, pictures and other information with the doctor/s using the chat interface. Every chat is set to private view which means only the patient and the concerned doctor will be able to see the information they type.

“The new round of funding will help us take specialised care downstream to more remote and under-penetrated areas in the country and help us further strengthen our leadership position in this space”, said Satish Kannan, CEO of DocsApp.

According to Mr Kannan, the mobile app currently serves over 50,000 patients every month and 40% of their business/consultations come from rural India! The startup’s goal, according to Mr Kannan, is to serve 3,00,000 patients every month by the end of 2018. Prior to this round of funding, the startup had so far raised US $8.4 million through equity investments from VC firms and angel investors.

The doctors who are on the startup’s mobile platform, are specialized in various fields of medicine like gynaecology, psychiatry, dermatology, cardiology, oncology, sexology and general medicine, so patients can consult doctors accordingly. The mobile app also facilitates a home visit from doctors for lab tests and general check-ups, especially for the elderly. It also delivers medicines across several states in India.

The other healthcare startups to get funded this year (2017) include the healthcare startup, CrediHealth which secured US $1.5 million in Series A round of funding from Tolaram during April, this year. The healthcare startup QorQI raised an undisclosed amount of seed funding from PayTm during April, this year. The healthcare startup, OXA, raised an undisclosed amount of seed funding from Idein Ventures during March, this year. The healthcare startup, Celes Care, bagged US $1.5 million in Pre Series round of funding from Ventureast, Endiya Partners, Eight Roads Ventures, F-Prime Capital Partners, Dr Varaprasad Reddy and other preeminent investors during March, this year. The healthcare startup, MobiDent, secured an undisclosed amount of Pre Series funding from DanGold Investment Corp. during January, this year (2017) just to name a few. Read more on Startup News