Meddo raises $3 million in Pre-Series A funding led by SRI Capital
S Singh
New Delhi, September 17, 2019: Meddo, India’s first (and now, largest) 360 degree connected health platform has raised $3 million in their Pre- Series A funding led by SRI Capital with participation from growX Ventures, LetsVenture, Jitendra Gupta (Co-founder Citrus Pay) and Venture Gurukool, among others.
The Gurugram based startup currently has over 400 doctors and 200 clinics and is currently operational in Delhi NCR. Meddo works closely with all dominant NABL accredited diagnostic lab partners across the city. They work with 250 trained peri clinical staff for in clinic and at home sample collection and have served more than 1,50,000 customers so far.
Meddo was founded in June 2018 by Saurabh Kochhar (ex-Founder & CEO of Foodpanda and Printvenue; IIT & IIM alumnus) and Dr Naveen Nishchal (co-founder, Cygnus Hospitals and a Harvard graduate). The platform functions in offline and online space - through standalone doctor establishments with the central objective of bringing together all healthcare needs for the patients onto a single platform, bringing convenient and comprehensive care into healthcare.
Speaking on the funding, Saurabh Kochhar, Co-founder, Meddo said “Our vision is to fundamentally change how healthcare is delivered in our country; starting with the largest (USD 160 bn+) and most unorganised segment, out-patient care. We have seen unprecedented growth within the last 7 months that we have been operational, and this funding helps us further that growth and invest in the right team and technology ”
Shweta Singh, Principal, SRI Capital said “Meddo is addressing a fundamental gap in India's healthcare ecosystem by bringing Doctor run clinics on to its platform and standardising service levels to provide patients with an offering they can trust. We are confident in Saurabh and Dr. Nishchal's ability to execute and create a healthcare offering that Doctors, patients and healthcare providers love.”
Jitendra Gupta, Co-founder, Citrus Pay and one of the early investors in Meddo said “I invested in Meddo very early on, as I believed in Saurabh and Dr Naveen’s vision and their demonstrated capability to execute. I have been thoroughly impressed with their incredible growth numbers over the last 6 months”
Manu Rikhye, Partner, growX Ventures said “Health is one of the most technologically underpenetrated and sectors in India with its peculiar challenges. We believe Meddo’s unique approach of aggregating standalone establishments using technology to bring in convenience, quality and excellence in the standards of care has great potential to overcome those challenges.”
