Policybazaar Group pumps $50 million in healthcare venture docprime.com

Docprime.com, the latest healthcare venture by Policybazaar Group, Monday said it has received an initial internal funding of $50 million (about Rs 362 crore) from the parent company.

Press Trust of India September 17, 2018 14:13:50 IST
Policybazaar Group pumps $50 million in healthcare venture docprime.com

New Delhi: Docprime.com, the latest healthcare venture by Policybazaar Group, on Monday said it has received an initial internal funding of $50 million (about Rs 362 crore) from the parent company.

Docprime.com, which allows users to book appointments with doctors and labs through its platform, has partnered up with 14,000 doctors and 5,000 diagnostic labs. It aims to expand its network to 1.50 lakh doctors and 20,000 labs across over 100 cities.

While docprime.com allows users to book appointments in Delhi-NCR, it also plans to make the facility available across all major cities, including Mumbai, Bangalore, Hyderabad and Chennai, the company said in a statement.

Policybazaar Group pumps 50 million in healthcare venture docprimecom

Representational image. Reuters.

"We intend to use the capital in providing seamless user experience and bringing innovation in the healthcare space. Our focus is to make the services more customer-friendly driven by transparency, trust, and sustainability," docprime.com CEO Ashish Gupta said.

He added that the company is bringing in innovation through the use of various new-age technology tools like artificial intelligence (AI), data science and deep analytics.

"Healthcare sector has a lot of untapped potential and currently, the services are not affordable and accessible for all. With rising out-of-pocket expenses, there's a need to provide quality healthcare at competitive prices that can be accessed by anyone, anywhere," Yashish Dahiya, CEO and co-founder of Policybazaar Group of Companies, said.

It also plans to bring in an OPD subscription-based product, which will cover unlimited consultations and diagnostic tests. The company is targeting 1 million free medical consultations by March 2019 and up to 5 million by March 2020.

Earlier this year, Policybazaar had received a $238 million funding, led by Japan's SoftBank Group and its existing investors.

Updated Date:

also read

Obama launches California fundraiser
Fwire

Obama launches California fundraiser

President Barack Obama is launching a two-day campaign fundraising swing in California.

DLF raises Rs 3,173 cr by selling shares to institutional investors through QIP offer; company to prepay debt
Business

DLF raises Rs 3,173 cr by selling shares to institutional investors through QIP offer; company to prepay debt

Realty major DLF Friday said it has raised Rs 3,173 crore by selling shares to institutional investors through its QIP offer

PolicyBazaar raises more than $200 mn led by SoftBank Vision Fund, enters coveted Unicorn club
Business

PolicyBazaar raises more than $200 mn led by SoftBank Vision Fund, enters coveted Unicorn club

Founded in 2008, PolicyBazaar's investors include the likes of Temasek, Tiger Global Management, True North, InfoEdge (Naukri.com), Premji Invest, besides investments from other PE funds and family offices