The company will be using the funds raised to expand to other specialities like cardiovascular, neuro and respirators
Remedo, a health-tech startup in the telemedicine vertical has raised Pre-Series A round from River Rock Ventures. Inflection Point Ventures also participated in the round with other investors including Angel List, Mohit Satyanand, Mitesh Daga (TPG Capital) and Aditya Vij (Kedara capital).
The company, which runs a telemedicine platform connecting over a lakh patients with doctors present on its platform, will be using the funds raised to expand to other specialities like cardiovascular, neuro and respirators.
Dr Ruchir Mehra, Co-Founder, Remedo, says, “Remedo is an integrated care provider that uses various touch points between doctors and patients to manage chronic conditions, providing tools to adjust to the new reality of patient doctor moving online. Because of COVID outbreak, patients are unable to meet their doctors in person as it is not advisable to visit hospitals if one is not a Corona affected case. As a result, we have seen a clear acceptance among the stakeholders to take the telemedicine route. Our business has witnessed 17 per cent growth in follow up visits for the doctors on the platform.”
Shyam Anjaria, Investor, Inflection Point Ventures, said, “Remedo is tapping into a unique and highly scalable B2B health-tech market in India, which is currently underserved. The innovative business model that Remedo brings the doctors and patients together on a platform is a key differentiator. With this backdrop coupled with IPV’s stage wise due diligence process, gave Remedo credibility and confidence for me to invest in the startup.”
Vinay Bansal, Founder & CEO, Inflection Point Ventures, said, “We are a digital first investment platform and our due diligence process is based on studying hows and whys of start-ups failing. We are seeing a massive surge in our investor base even with the given macro scenario because investors have found startups as a good asset class creating wealth in the private market. We aim to open up angel investment in India and want to make it as accessible as buying stocks. That’s why more than 200 investors have done their maiden angel investments through IPV.”