Health-tech start-up Doxper said that it has managed to raise $4 million in its Series A round of funding which was led by Alkemi Venture Partners.
Existing investor GrowX Ventures and some angel investors also participated in the round. Other investors included Rainforest Venture Network and a group of individual investors.
Operated by InformDS Technologies Pvt. Ltd, the start-up is going to use the funds for expanding its market in the country. Doxper said in a statement that:
“they are also going to invest the collected funds in research, technology, and development.”
Doxper is a machine learning and artificial intelligence-powered data capture solution. The company has developed an encoded pen-and-paper system using which doctors can write prescriptions and patient information and also store data in the cloud.
The start-up is known to process around 500,000 case sheets every month. It has already digitized case sheets of more than 3.25 million patients, with a total of about 5 million records. The company has also partnered with 20 corporate hospitals and 1600 independent clinics in the country.
Doxper was established in the year 2015 by a group of individuals including Shailesh Prithani, Pawan Jain, and Randeep Singh. Prithani is an alumnus of IIT Roorkee, while Jain and Singh are alumni of IIT Bombay.
In August 2017, the start-up had raised around $750,000 in a seed round of investment which was led by GrowX Ventures and Vidal Healthcare. Others participants included angel investment platform Capier Investments, online venture capital firm Globevestor, and other angel investors including a leading onco-surgeon. In April 2018, it had raised $1.1 million in a pre-Series A round of funding from existing investors led by Vidal Healthcare.
Health-tech start-ups have witnessed significant investor interest in the last few months.
Earlier this month, healthcare services aggregator Plunes raised angel funding.
In July, a Bengaluru based start-up Mfine had raised around Rs 31 crore from venture debt firm Alteria Capital.
In the same month, HealthAssure, an online aggregator of primary healthcare services had raised $2.5 million from early-stage venture capital firm Blume Ventures in its Series A round of funding.
In June, VCCircle reported that venture debt provider Trifecta Capital has agreed to invest Rs 70 crore in Practo Technologies Pvt. Ltd. Practo had last raised equity funding in 2017 when it secured $55 million in a Series D round led by existing investor China’s Tencent.