India: Karma Primary Healthcare raises funds from 1Crowd, others

Photo: Reuters

Rajasthan-based healthcare provider Karma Primary Healthcare Services has raised an undisclosed amount of funding in a round led by early-stage investor and equity crowd-funding platform 1Crowd.

The round also saw participation from the company’s existing investors Ankur Capital, Beyond Capital Fund and Ennovent.

The company also received support from organisations such as the Tata Trusts, UBS Optimus Foundation and WISH Foundation, according to a statement by Impact Investment Exchange (IIX), which facilitated the investment.

Karma Healthcare sets up chains of rural health centers which provide web-enabled patient-doctor consultations, face-to-face doctor consultations and medicines to patients and currently operates four rural healthcare centers and has served over 6,000 patients.

It set up its first clinic in 2014 and claims to have completed over 55,000 consultations, and currently operates 15 e-Doctor clinics in Rajasthan and Haryana.

“Karma Healthcare is looking forward to expanding its operations into new geographies as well as enhancing our medical systems and technology with this funding,” stated Jagdeep Gambhir, CEO and Co-Founder of Karma Healthcare.

“With the new funding, more than 540,000 patients in the underserved communities of India will be able to access quality healthcare services through Karma’s network of e-Doctor clinics. Additionally, over 6,000 people from rural communities will be able to enjoy free consultations through Karma’s outreach camp,” he added.

This latest funding marks IIX’s 17th transaction in India, including two so far this year.

Last month IIX brought together investors of a $1 million investment in ERC Eye Care (ERC), which provides eye care solutions to low-income persons in Northeast India. The company raised $1 million from a consortium of five investors led by existing investors Ankur Capital and Ennovent.

Also Read:

ERC Eye Care raises $1m from Ankur Capital, Ennovent, others

Nuvepro raises $400k seed funding via 1Crowd