Startup City Magazine

Chinese Investment Firm Tencent Pumps-in $90 Million in Healthcare Technology Startup Practo

Bengaluru: Practo, a Bengaluru-based healthcare technology startups, raises $90 million in Series C funding round led by Chinese investment firm Tencent along with Sofina, Google Capital, Altimeter Capital, Sequoia Capital Global Equities and Yuri Milner. Existing investors Sequoia India and Matrix Partners India also contributed to the round. The company intends to utilize the raised capital to fulfill its vision to become a leader in the doctor discovery sector and to accelerate its overseas business expansions. Prior to this, the company had raised $30 million Series B funding from Sequoia Capital & Matrix Partners and $4 million in Series A funding round from Sequoia Capital in February 2015 and July 2012 respectively.

Founded in 2008 by NIT-Karnataka duo of Shashank N D and Abhinav Lal, Practo is a technology firm which enhances the patients’ experience by providing them with a list of clinics and doctors. It maintains an online database of these doctors and the patients can search for their desired doctor and fix an appointment. The company has also developed Practo Ray, a user-friendly online medical practice management software for doctors. Similarly, Practo Hello is another cloud based telephony solution which enables the doctors and patients to connect with each other.
As of now, Practo offers its services in 35 Indian cities and three countries. The company plans to extend their footprint to 100 Indian cities and 10 countries across South East Asia, Latin America, Middle East and Eastern Europe in the days to come. The company also claims to have listed over 200,000 healthcare personnel on its portal and sees over 10 million searches every month with over 8000 doctors treating three million patients in India alone.

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