Healthcare provider Medfin said on April 11 that it has raised $15 million in Series B funding from investors like Arka Nxt, HealthXCapital (Singapore), Blume Ventures, Axilor Ventures, Sony, and Kotak Investments.
With the freshly raised funds, Medfin plans to expand to more than 25 cities across the country. In addition, the startup plans to invest in research and development, technology, and people as it aims to offer a one-stop comprehensive service platform for more than 250 types of daycare surgeries.
Founded in 2017 by Arjun Kumar, Arun Kumar, and Sidharth Gurjar, Medfin helps patients navigate complex surgical and related diagnostics processes, by connecting them with surgeons, finding the right course of treatment, performing cost estimates, and insurance coverage checks among others.
The startup aims to offer patients access to surgical treatment procedures across departments from ophthalmology to orthopedics at affordable prices.
Medfin says it has completed more than 5,000 surgeries so far, with plans to reach 1,00,000 surgeries by 2024. It had previously raised $4 million in funding.
"(Medfin) are well on their way to becoming India’s largest day-care surgery provider. We are happy to partner with them in this journey," said Vikram Kailas of Arka Nxt Ventures.
Seemant Jauhari of HealthXCapital said, “With variable quality, outcomes, pricing plaguing healthcare services the patient is often confused and lacks trust. Balancing access with great outcomes enables patient trust! This is key to Medfin and sets them apart from other such providers.”
The Indian surgical care sector is expected to advance at a compound annual rate of 22% from 2016 to 2022 to reach $100 billion by 2022.
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