Video medicine startup, Doctor Insta, has raised US $2.5 million (about INR 16.6 crore) in a fresh round of funding, led by RoundGlass Partners – a Gurgaon-based digital healthcare and wellness-focused venture capital firm announced on Friday.
It had raised its first round of funding of US $500K (about INR 3.3 crore) from BrahmaX Ventures and two angel investors, including, Rishi Parti, the founder and managing director of Info-X, an India-based solutions provider to logistics companies, in December last year.
The raised capital will be divested by the company to market their two new products – Health ATM and Insta Wall. A portion of funds would also be used for product development, expansion of its team, and launch of omni-channel healthcare networks across India and other countries.
Video medicine startup Doctor Insta was launched last year by Amit Munjal, Doctor Insta provides medical consultations across its web and mobile platforms, for customers looking for advice, including in general medicine, psychology, sexology, dermatology and gynaecology, amongst others.
“India is a huge potential market wherein the size of the healthcare industry is $126 billion and the total addressable market is $25 billion…We have been growing in high double digits month over month and are planning to penetrate deep into the urban and rural areas of the country,” said Amit Munjal, chief executive, Doctor Insta.
Doctor Insta claims that it has a rigorous selection process for the doctors, which are selected to connect with the users on platform. These doctors are acclaimed to be educated and trained at the finest medical colleges & hospitals in the country, and are highly rated by peers and patients alike. The startup provides medical consultations across its web and mobile platforms, for customers looking for advice, including in general medicine, psychology, sexology, dermatology and gynaecology, amongst others.
The startup is planning to set up over 500 medical consultancy kiosks, or Internet of Things-enabled Health ATMs, along with over 1,000 Health Pillars, across India’s eight major metros, particularly in public areas having high footfalls.