Hyderabad-based eKincare, one of India’s fastest growing healthcare technology startups that enable users to monitor their critical medical information and view it anywhere anytime, has secured Rs. 2.2 crore in pre-series A round of funding.
The investors involved in the round included Bitkemy Ventures (re-invested), Maheshwari Investment. Pvt. Ltd., and from other HNIs like Anshoo Gaur (Indian Angel network, Amdocs), RamaKrishna Reddy and Sandeep Seerapu. The current round of funding will be used to strengthen product development, IP and tap the right talent to foster company’s growth in the tech led healthcare space.
Consolidating an individual’s medical history with eKincare is as easy as taking a Selfie and it’s free! eKincare’s patent-pending technology also gathers medical results from various healthcare providers, updates profiles, and provides a single repository for users to store all their healthcare episodes. It then identifies potential health risks from the data, provides a personalized health plan to beat those risks.
Voted as “Global Digital Health 100 companies” by the prestigious journal of mHealth,eKincare’s current round of funding comes close to the seed fund amounting to Rs. 2 crore that the company had raised last year in January, 2015 from Bitkemy Ventures and Adroitent Pvt. Ltd., a pioneer in healthcare IT.
Talking about how technology companies like eKincare can change the way we perceive healthcare, Anshoo Gaur (Indian Angel network MD India Amdocs) said, “Advanced technology today provides the opportunity for every company and every world citizen to become more proactive about wellness. eKinCare is leading the predictive digitization of a critical health-care value chain component that can help us take control of health outcomes and this I find meaningful, value-additive and compelling.”
“Bitkemy Ventures has always been a strong advocate of inventors who build technologies for a better tomorrow. Large healthcare/pharmaceutical companies are busy fixing the problem rather than preventing it. We believe, eKincare is on the right technology curve addressing inefficiencies by improving data sharing which will eventually fill the gap in healthcare domain using the powerful combination of its home-brewed analytics platform and recommendation engine. As Wayne Gretzky said, ‘I skate to where the puck is going to be, not where it has been’ which is the underlying fact in our investment in Kiran and team,” said, Sunil Motaparti, Founder and Director of Bitkemy Ventures.
“We have been constantly investing in disruptive start-ups that aim at addressing a larger market or consumer related challenges. We found in eKincare an amazing set of people working on a disruptive idea that solves a core problem in healthcare. The beauty of the eKincare solution is that it solves the core data challenges faced by patients, doctors and providers in an easy to use manner. In fact despite being consumer-facing, it is a business to business model that is profitable from day one,” said Karan Maheshwari from Maheshwari Investment. Pvt. Ltd.
Speaking on the occasion, Kiran Kalakuntla, Founder & CEO, eKincare said, “We have seen a tremendous excitement and interest from corporates leverage our platform for their employees, keep track of the overall organization’s wellness metrics and maximize the ROI out of their wellness budgets. This round of funding was raised to bring in few strategic investors on board and will be utilized to further improve the B2B offering, expand to other cities and hiring for operations in new cities.”
In fact, digitalization in healthcare can not only create new healthcare models but can also create better patient engagement and clinical efficiency. Prime Minister, Narendra Modi’s Digital India push to emphasis the need to digitize healthcare systems in India. “Innovation is at the heart of what we do at eKincare. Our analytics team ensures that our Users are empowered with technology that provides personalized and qualitative healthcare information and helps diagnose chronic diseases early in life. We are committed to providing an effective and intelligent solution to healthcare system in India and contribute to developing a healthy ecosystem overall,” added Kiran.
The platform is free for the user with no limits on the data stored and allows multiple profile management. eKincare is currently partnered with some of the pioneers in Indian healthcare to bring an intelligent & comprehensive approach to preventive medicine and public healthcare delivery.