The lack of health care services is a major problem facing India: the number of professional doctors is small, and the infrastructure of medical institutions is inadequate, especially in second- and third-tier cities and rural areas. Technology can alleviate this problem to a certain extent, but the impact of technology is difficult to penetrate into the traditional service field of health care.
Most of India's larger start-ups are focused on consumer-centric e-commerce, but at the same time, there are other areas where companies have the potential to become unicorns, including healthcare. Tech in Aisa's data from the venture capital data analysis platform Tracxn shows that the following four healthcare startups in India are expected to develop into unicorns with a valuation of $1 billion.
Online medical portal Practo
Practo is one of the most promising companies in the medical field to develop into a unicorn. Founded in 2008 and headquartered in Bangalore, Practo offers a range of services: on the one hand, consumer-centric, online medical search tools for patients, patients can find the appropriate doctors through the platform and based on Practo Appointment is completed under conditions such as consulting fees; on the other hand, Practo Ray, a SaaS product for medical institutions and doctors, helps users manage online content such as schedules, medical stocks, and medical bills.
Since its inception, Practo has received a total of $124 million in financing. In August last year, Practo surrendered $90 million in Series C financing, including Tencent, Google Capital, Sequoia, Jingwei, and Facebook, Alibaba and JD. Behind the investor Yuri Milner et al. After the completion of Practo financing, it will dominate the Southeast Asian mobile medical market through a series of acquisitions to expand its business worldwide. For example, in mid-September last year, Practo announced the acquisition of Indian medical information management tool Insta Health Solutions for US$12 million. At present, the company is stepping up cooperation with pharmacists, hospitals, diagnostic centers and fitness centers to expand the company's services.
Online pharmacy NetMeds
Founded in 2010, NetMeds is headquartered in Tamil Nadu and is dedicated to providing drug delivery services to its customers. The company's website platform has a wide range of drugs, including not only a variety of prescription drugs, but also some other non-prescription drugs, maternal and child supplies and health products. At the same time, the platform website also offers generic alternatives to most medicines, saving users money on drugs.
In October last year, NetMeds received $50 million in financing, led by OrbiMed, the world's largest investment company focused on biomedical technology. NetMeds used this financing to expand its business to second- and third-tier cities in India.
In addition, it is worth mentioning that NetMeds' "blood" is also a major factor in helping to become a unicorn. NetMeds is a century-old chain drugstore in India, Dadha & Co. (later acquired by the famous Indian pharmaceutical company Sun Pharmaceutical) An online sales branch.
In India, NetMeds also has a number of competitors, including digital medical platforms 1mg, mChemist and Pluss.
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