The appointment comes as Practo continues to expand its consumer and enterprise footprint globally, including scaling operations in the United States and the UAE, while strengthening its leadership across technology and product
Founder Rajinish Menon told Moneycontrol the capital will be used to add new centres across South India, before selectively expanding into other regions.
The funding comes as the healthtech startup reports operating break-even at its first hospital within six months of launch and a sharp improvement in clinical outcomes under its managed-care model.
India’s experience with building digital public infrastructure, such as the Ayushman Bharat Digital Mission, provides a blueprint for addressing global healthcare challenges, Dr Bishen said.
The last round in 2021 valued the healthcare technology firm at $3.2 billion, more than doubling its valuation from $1.3 billion when it last raised capital the same year.
The development follows the approval of a resolution plan for Karkinos Healthcare by NCLT after it entered the Corporate Insolvency Resolution Process (CIRP) in May.
In a series of emails exchanged with employees, the founders said despite injecting Rs 9 crore of their personal funds to cover salaries, the startup ran out of capital, forcing it to shut down. They also addressed allegations of financial misconduct raised by some employees
The Mumbai-based VC firm is looking to invest in eight to 10 startups in health tech, climate tech and B2B SaaS space, with a cheque size of $2-5 million
Practo plans to expand this offering to Pune, Hyderabad, and Chennai initially and then eventually reach tier two cities in the country. It has a target to launch over 100 Practo Dental clinics across the country.
In a statement, the company said it will use this fund infusion for growth and expansion through acquisitions.