Mfine Archives Tech Funding


The ISO certified m-health platform companions with main and trusted hospitals as an alternative of aggregating particular person docs. MFine users can seek the assistance of doctors from their most popular hospitals by way of chat or video to get prescriptions and routine care. Users can even e-book routines lab exams, medicine supply, and access complete well being packages. MFine was founded in December 2017 by Ashutosh Lawania and Prasad Kompalli, joined by Ajit Narayanan and Arjun Choudhary. “MFine’s model, coupling AI technology qa aaron vp boston ieeespectrum with a strong provider network, is highly effective in offering healthcare companies on-demand and altering the means in which we think about care supply for millions across the world. We see an enormous demand from customers in search of an built-in care experience and MFine has built the proper platform to ship that have,” mentioned Hero Choudhary, managing partner, BEENEXT.

The company additionally provides its users entry to more than seven hundred diagnostic centres across four hundred cities in India. Over a hundred,000 customers use MFine for booking diagnostic exams every month.The Bengaluru headquartered firm has roped in 6000 medical doctors from over seven-hundred reputed hospitals apply throughout 35 specialties . The COVID-19 outbreak also pushed employers to take a position into worker well being advantages and plenty of corporations are actually offering numerous options that transcend hospitalization benefits in partnership with MFine. Organizations in India at the second are quick turning to telemedicine as a half of their employee health packages. Over 500 corporates have partnered with MFine to enable wide ranging providers overlaying over 500,000 employees.

Since inception, MFine claims to have served over 3 million clocking over 300,000 monthly transactions together with physician consultations, diagnostic tests, e-pharmacy and in-patient procedures. MFine is growing at a 15 p.c month-on-month rate, considering the increasing adoption of distant affected person monitoring and digital well being in India since the outbreak of the Covid-19 pandemic and the surge in digital health adoption among Indians. MFine competes with Pharmeasy, Reliance-backed Netmeds, and Medibuddy, among many different e-pharmacy startups. A fundraising round headed by healthcare investment company -OrbiMed Asia Partners IV netted Chennai-based Lifecell Rs 255 crore ($33.5 million) in September 2021. Helion Venture Partners, Brand Capital, and the company’s founders are amongst investors to have pumped in roughly $40 million into the initiative.

We will proceed to invest in deep tech to rework each smartphone right into a health companion for customers and a decision support assistant to all docs. We will also be looking to expand our community throughout India and make our companies obtainable widely,” stated Prasad Kompalli, chief government officer and co-founder, MFine. The funds raised might be leveraged to broaden the company’s hospital, diagnostics, and e-pharmacy infrastructure across the country, as well as develop tech-driven care supply merchandise for patients with acute and continual illnesses. The firm additionally goals to collaborate with insurance coverage firms to supply its customers financial companies. MFine is growing 15% month on month, amidst exponential adoption of telemedicine and digital health in India since the onset of the COVID-19 pandemic and enhance within the adoption of digital well being among Indians. MFine is investing closely in know-how to make the telemedicine expertise significantly easier and efficient for quality care delivery.

In the coming months, the corporate may also bring progressive financial options for users together with insurance coverage partners. In October 2018, MFine added another layer to its digital physician consultations by integrating with laboratory and diagnostic providers and currently, it offers its customers entry to more than seven hundred diagnostic centres throughout 400 cities in India. MFine has greater than 6,000 doctors across 35 specialties on its platform and serves customers in more than 1,000 towns across India. Mfine was founded in December 2017 by former Myntra executives Lawania and Kompalli, who were later joined by Ajit Narayanan and Arjun Choudhary. MFine, an on-demand, pureplay digital primary healthcare market and platform offers professional diagnostics and health check-up services that can be availed from the comfort of anyplace, has been steadily redefining the primary healthcare sector.

LifeCell’s main line of enterprise is stem cell banking, which in FY21 produced nearly 60% of the working earnings or Rs 139 crore. The team leverages the ability of superior technologies around cells, genes and tissues to ship industry-leading services in course of propelling and enabling one of the best future for each era. In 2019, the startup raised $17.2 million in a Series B investment led by SBI Investment, SBI Ven Capital, and BEENEXT. The firm is projected to be valued at around $450 million to $500 million after the latest funding round. The $120 billion Health Delivery market in India is fast moving in the direction of digitization, and similar to other sectors like payments, banking and education, technology players are constructing digital first services and vying for a major share of the market. In the approaching months, MFine might be extending the tool to measure heart fee and blood stress, the statement stated.

Existing investors, Stellaris Venture Partners, SBI Group Japan, SBI Ven Capital Singapore, Heritas Capital, Prime Venture Partners, Y’S Investment Pte Ltd., and Alteria Capital participated within the round. Three ways tech will change the face of music festivals Digital Catapult’s Kostas Katsaros on the methods emerging applied sciences will change the face of music festivals. IoT and superior technologies save lives Huawei’s Medhat Mahmoud, Chief Digital Transformation, for it’s Northern Africa OpenLab, discusses the potential of life saving technologies. To guarantee probably the most safe and best overall expertise on our web site, we suggest the most recent versions of Chrome, Edge, Firefox, or Safari. To guarantee the most secure and best overall experience on our website we recommend the most recent versions of Chrome, Edge, Firefox, or Safari.

The lay off comes after MFine raised significant funding from new and present buyers last 12 months. This restructuring will give mFine “a possibility to drag via and proceed to offer access to high quality healthcare”, Acharya informed IANS. After Healthtech platform mFine laid off over 50 per cent of its whole workforce , Prime Venture Partners which is considered one of its existing investors mentioned on Monday. Excited to assist their journey in changing into one of many largest virtual hospitals on the planet. In the coming months, the company can be trying to convey financial options for users along with insurance coverage partners, as a half of its product choices. The firm has over 500 corporates partnering with its platform as a half of the subscription product, which covers over 500,000 workers, at current.

Since its inception, over three million customers have used MFine companies with the platform clocking over 300,000 monthly transactions that include doctor consultations, diagnostic tests, e-pharmacy and in-patient procedures. In October 2018, MFine added one other layer to its digital physician consultations by integrating with laboratory and diagnostic providers and at present offers its users access to more than seven-hundred diagnostic centres across four hundred cities in India. More than 6000 medical doctors, including some of India’s top medical doctors from over seven-hundred reputed hospitals follow across 35 specialties on MFine and serve millions in more than one thousand cities throughout India. Since its inception in 2017, the platform has onboarded over 3 million, clocking over 300,000 monthly transactions that include doctor consultations, diagnostic checks, e-pharmacy and in-patient procedures.