Bhubaneswar-based Telehealth startup MedTel today said it has raised an undisclosed sum in its pre-Series A funding. The round was led by Innovative Ventures and Technologies for Development (INVENT), a programme launched by the central government’s Technology Development Board (TDB) in partnership with Department for International Development (DFID), United Kingdom.
The startup said in a statement that the raised capital will be used to improve its technology infrastructure and product offerings. Additionally, it will also explore to expand its services to other states in the country.
Founded by Lalit Ranjan Manik, Shashank Singhal and Ajit Choudhury in 2017, MedTel runs an artificial intelligence and cloud-based web and mobile platform which aggregates pharmacies, pathology labs, doctors and patients together on a single platform.
With a business-to-business-to-consumer model (B2B2C) model, MedTel offers its services for Tier 3 – Tier 6 centres. The startup claims to facilitate over 6,000 teleconsultations every month and further, it aims to have 1.20 lakh patients on its platform by the end of this year.
“We hope this will help us to reach underserved population not only in India and also other developing countries,” co-founder Manik said to VC Circle.
Incubated by KIIT Technology Business Incubator (KIIT-TBI), MedTel claims to have aggregated 850 pharmacies and diagnostic centres as digital health clinics. The startup offers more than 400 registered specialist doctors with expertise in areas including pediatrics, psychology, cardiology, neurology, oncology, and diabetology.
The users can have various diagnostic tests done on the spot such as blood sugar, blood pressure, ECG, spirometry, routine urine, lipid profile, among others. MedTel says the average ticket size for a teleconsultation costs anywhere between Rs 90-400 as doctors’ fees, Rs 300- 400 for drugs and Rs 200–300 for diagnostics.
Social entrepreneurship support organisation Villgro is the lead incubator under the INVENT programme. The incubator will provide support creating a viable social enterprise (for profit) in the eight low-income states of India including UP, MP, Bihar, Chhattisgarh, Jharkhand, Rajasthan, Orissa and West Bengal.