08 January,2021: Meddo, a health-technology start-up operating in the ambulatory space has expanded the Pre-Series A round to a cumulative of USD 6mn led by SRI Capital and Picus Capital.. Meddo empowers offline OPD clinics with digital solutions and supply chain to create full service medical centres complete with ERM systems, diagnostic support, medicine delivery services/support and much more.
Launched in 2018 by Mr. Saurabh Kochhar, ex-Foodpanda and Dr. Naveen Nishchal, a serial entrepreneur who is also the co-founder of Cygnus Hospitals, of the model works towards reverse integration of independent OPD clinics into the Meddo fold. With a vision to organise the highly unorganised ambulatory services sector in India, Meddo is the first seamlessly omni-channel healthcare player offering ‘patient-oriented Care’ in the true sense. As a testament to that, Meddo has witnessed 2.5X in revenues in 2020 compared to the last year.
The venture has been backed by notable investors so far. Picus Capital, which joins the list of investors in Meddo now, is backed by Alexander Samwer of Rocket Internet fame – which funded Kochhar’s previous two ventures as well (foodpanda & Printvenue).
Talking about his vision for Meddo and sharing details regarding fund utilisation, Mr Saurabh Kochhar, Founder of Meddo, said, “At Meddo, we have always believed in technology as the key enabler for providing seamless quality care; and thereby, built a truly omni-channel care network. When this was put to test in 2020, we immediately scaled up, vertically and horizontally to provide much needed tele-care to our patients and users. The additional funds, coming in in this round will also be directed towards further expansion and value addition. There are three key areas where we will be investing – a) Increasing presence and national footprint – both with more clinics in the NCR region and expansion to other cities, b) Launch of the MeddoSure membership which is one of a kind omni-channel unlimited care membership plan, and c) Further improving our Technology stack to provide seamless quality care and lead integrations with the Bharat Health Stack through NDHM.”
Source: Business World
