HealthPlix, a Bengaluru, India-based startup offering its in-house platform for doctors to help record patient data digitally, raised $22 million in Series C funding to broaden its reach in the country and allow more doctors to utilize its software to offer improved care to their patients.
The round was led by Avataar Venture Partners and SIG Venture Capital and is divided into $20 million in equity and $2 million in debt. Existing investors, including Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, and Chiratae Ventures, also participated in the round.
“HealthPlix looks to utilize 80% of its fresh funding to grow the doctor base and invest more in sales, product, and engineering teams. It will also invest in clinical decision support to help doctors treat the patients better. Moreover, it plans to explore a couple of models to explore how it can disrupt the insurance and the payer side, Sandeep Gudibanda, co-founder and CEO of HealthPlix said.
The startup lets doctors create a 360-degree medical profile of their patients that can be helpful during consultations and for treating chronic diseases.
It also offers a collective intelligence to doctors that helps them understand characteristics such as what diseases are cropping up in what areas and what treatment regimens are being used by different patients and doctors.
HealthPlix targets doctors who own clinics and look for new-age solutions to enhance efficiency. It aims to serve over 25,000 doctors by 2024 and reach 50,000 by 2025 to treat nearly 15% of the Indian population.
Company: HealthPlix Technologies Private Limited
Raised: $22.0M
Round: Series C
Funding Month: March 2023
Lead Investors: Avataar Venture Partners and SIG Venture Capital
Additional Investors: Lightspeed Venture Partners, JSW Ventures, Kalaari Capital, and Chiratae Ventures
Company Website: https://healthplix.com/
Software Category: Electronic Medical Records (EMR) Software
About the Company: Founded in 2014 by Sandeep Gudibanda, HealthPlix is a HealthTech company that offers an EMR platform for doctors to manage their practices. Its EMR platform features the Doctor Insights dashboard, a doctor-facing user interface for tracking critical aspects of patient visits, including patient demographics, visit trends, and insights around follow-ups. HealthPlix uses AI to make it easier for doctors to write prescriptions and search for appropriate medicines and diagnoses. The AI deployment also speeds up identifying patients based on their medical data and helps define critical elements that may be relevant for the patient or help the doctor during the treatment. The startup has already empowered more than 10,000 doctors who treat 2.5% of the country’s entire population using its proprietary software. Currently, the startup has a headcount of 392 people.
Source: https://techcrunch.com/2023/03/14/healthplix-series-c-funding/