mfine, a new health-tech start-up, founded by former Myntra executives Prasad Kompalli and Ashutosh Lawania, has raised $1.5 Million in a funding round led by Stellaris Venture Partners. The round also saw participation from HNIs Mayur Abhaya and and Rohit MA, top healthcare entrepreneurs from Stellaris’ Founder Network.
As the part of the investment, Ritesh Banglani from Stellaris partner has joined the company’s board and said, “We’re delighted to partner with Prasad and Ashutosh on their mission to take quality healthcare beyond the hospital’s walls. The seasoned founding team brings together scale execution experience and deep technology expertise to create a unique AI application in healthcare”.
Bengaluru-based mfine was founded by Myntra co-founder Ashutosh Lawania and former Myntra e-commerce platform head Prasad Kompalli in February 2017. The duo started mfine after helping build Myntra as the dominant fashion retailer in the country. At Myntra, Lawania was a cofounder and Kompalli the Chief Business Officer. They are joined at mfine by former Myntra CTO Ajit Narayanan, and Arjun Choudhary, previously the head of Digital Marketing at Myntra. Dr. Jagadish Prasad, interventional neuroradiologist and founder of Femiint Health, brings strong clinical expertise to the team.
The startup offers patients access to online consultations and care programs from the country’s top hospitals. Its AI platform helps improve doctor productivity and quality of diagnosis. The company is collaborating with top hospitals like Cloudnine Group, Ovum Hospitals and Femiint health to help increase their reach and provide a high standard of care for patients.
Commenting on the market opportunity, mfine CEO Prasad Kompalli said, “We see a huge opportunity to build a consumer focussed digital health platform in India. At mfine, we use technology to make a high quality hospital network accessible on-demand to consumers”
“mfine’s AI engine will help provide a proactive care experience for patients and enable healthcare providers to engage patients into long-term care programs,” Ashutosh Lawania added.
mfine’s consumer app is expected to be launched in Bangalore in September 2017. It will offer remote, on-demand consultation with doctors at hospital chains and single hospitals in the city. The startup will also have an app for doctors to enable them to chat via text or video with patients.