Kochi-based digital health startup Mykare Health has secured USD 2.01 million in a seed round. The round saw participation from notable investors such as OnDeck ODX – US, Avaana Seed, Huddle, Endurance Capital, F Health, VeritasX, Stanford Angels, Phoenix Angels, Nitish Mittersain (Joint Managing Director, Nazara Technologies), Hari TN (Ex-BigBasket), Arjun Vaidya (Founder, Dr Vaidya’s), Sean (Hyunil) Sohn (CEO, Krafton), Niraj Karia, Ankit Tandon (Global CBO and CEO, OYO), Nikhil Jaisinghani (Executive Director, Polycab India), Dr Deepu Sebin (Ex-CEO & Founder, DailyRounds), Vikas Garg (Ex-CFO, Paytm), Rahul Nagar (Ex-VP, Paytm), Himanshu Arora (Ex Gaana), and Bhavya Shah – MD, Ark Impact, amongst others. According to the firm, the funds will be used to improve the overall patient experience and boost talent acquisition efforts.
Mykare Health, a digital health company founded in 2021 by Senu Sam, Rahmatulla TM, and Joash Philipose, aims to provide quality healthcare to India’s middle-class segment by creating an asset-light, low-cost, and standardized hospital network.
The company plans to double its focus on South Indian cities in 2023 to improve healthcare and transparency for poor and moderate-income groups.
“Factors such as dearth of administrative and pricing transparency, skyrocketing healthcare cost, poor patient to hospital ratio, and paucity of quality care are the key reasons causing surgery-related fear among patients, resulting in treatment delays and poor quality of life. We aim to mitigate these challenges through a patient-first approach,” said Senu Sam, CEO & Co-founder of Mykare Health.
“We are committed to serve every common, middle class person in India and cross-border with seamless experience, affordable and quality care. In addition, we are also empowering the small and mid-sized hospitals to improve their visibility and trust, with an aim to strengthen their patient footfalls. Through adequate support, these hospitals can significantly reduce India’s uneven patient to hospital ratio,” he added.
With more than 200 hospital partnerships, Mykare Health operates in 12+ Indian cities and has treated over 85,000 patients in the previous year.
“Given its purpose-led proposition for the middle income segment, as well as small and medium-sized hospitals, we hold a strong belief in its growth potential. By prioritising quality, accessibility and transparency, Mykare Health is not only poised to penetrate the length and breadth of India but also make an impact on a global level,” added Sanil Sachar, Founding Partner, Huddle.
Furthermore, it has received awards from the TiE Kerala Best Startup of the Year, SLP Best Startup of the Year, Headstart 23 Startups to watch, KMA Best Startup of the Year, Inc42 Best Startup To Watch, Naturals Best Startup, and Business Connect Best Startup, 2023. Senu Sam, the founder, was given the Times 40 Under 40 Award.