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

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.