Bangalore-based online healthcare platform, Practo, has reportedly raised $55 Mn in Series D round of funding from new and existing investors in a fresh round of funding led by China’s Tencent Holdings.
New investors in this round include Japan’s Recruit Holdings Co-owned RSI Fund and Thrive Capital, Practo’s founder and chief executive Shashank ND. Besides, existing investors Sequoia Capital, Matrix Partners, Capital G and Tencent also participated in the latest round of funding.
Founded in 2008 by Shashank ND and Abhinav Lal, Practo aims to help improve human longevity by simplifying healthcare. It helps millions of consumers around the world to find the best doctors and make better healthcare decisions.
According to Shashank, Practo booked about 45 Mn appointments in 2016 and five million patient records were shared on its app last year. Currently, Practo is operatinal in India, the Philippines, Singapore, Indonesia, Malaysia and Brazil, and will now also enter the health insurance segment through partnerships with existing businesses.
“The main focus will be to further invest in the platform to make it accessible to more Indians,” said Shashank, who added that Practo will expand its medicine delivery and diagnostics services, currently available in the tech-hub of Bangalore, to all major Indian cities. A part of the new funds will be used to expand the company’s services in South East Asia, he said.
Practo last raised $90 Mn from a clutch of investors in August 2015. So far, it has raised about $179 Mn in all, making it by far the most well funded homegrown healthcare startup.