Calcutta Angels Network (CAN), the largest angel network in the east has bought eight percent stake in the Delhi – based healthcare startup, LetsMD. This is the twelfth investment on a startup made by the city – based angel network. The investment made by Calcutta Angels Network is more than one crore rupees and is the largest investment it has made till date. The startup addresses the discovery, transparency and affordability problem in healthcare through a marketplace-based approach.
LetsMD was founded only on December 2015. However, it has already on-boarded around three hundred hospitals and single-specialty chains in the Delhi-NCR region as partners for the marketplace, including big names like Fortis Healthcare, BLK Hospital, and Apollo Hospitals! The company is founded by serial entrepreneurs namely Nivesh Khandelwal, Prakhar Gupta and Tenzin Thargay who have experience across various sectors in healthcare.
Commenting on the development, Calcutta Angels Network president Sidharth Pansari said, “LetsMD is in the process of creating a unique platform by bringing together all actors in the healthcare ecosystem on to a single-integrated marketplace. It is Calcutta Angels Network’s first round with LetsMD and incidentally is the biggest investment of Calcutta Angels Network members in terms of the amount invested. I’m hopeful LetsMD will be a game changer in the healthcare sector.”
The healthcare sector in India is booming, with lots of new healthcare startups being launched in the past few years. Startups in the healthcare sector are very innovative and are providing need of the hour solutions required in the healthcare sector in India. They are making the process of finding a doctor, getting the right medicines and fixing within – the – budget appointments or follow – ups a whole lot easier and faster. They are also producing new, innovative and effective medicines. These startups could definitely do with a little help in the form of investments from established companies. It is also heartening to see big companies make big investments on innovative startups like LetsMD. If this trend continues, every sector of the Indian economy will be booming shortly, creating millions of new jobs thereby improving the quality of life of Indian citizens. Read more on Startup News