Bessemer Venture Partners (BVP) India, Rebright Partners and Milliways Fund LLC. are also participating in the financing, per media reports. The startup will use the funding to further strengthen its doctor base, patient reach, and develop its product.
Founded in 2015 by IIT-Madras alumni Satish Kannan and Enbasekar Dinadayalane, DocsApp provides consultations across 15 specialities, including gynaecology, paediatrics, dermatology, psychiatry, sexology, weight management, and general medicine.
DocsApp currently boasts of over 10,000 doctors registered on the platform. Over the last year, it claims to have delivered medicines to more than 2 lakh Indians.
The Bengaluru-based startup had last raised $1.7 million in debt financing from venture debt firm InnoVen Capital last May. In December 2017, it had secured $7.2 million in Series A funding from BVP, Japanese investors Techmatrix Corporation, DeNa Networks and existing angel investors.
INDIA DEAL MONITOR
Here are some prominent venture capital transactions in India from May 6-10, 2020.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Sector|
|DocsApp||Bengaluru||9.5 million||-||Fusian Capital||Bessemer Venture Partners (BVP) India, Rebright Partners, Milliways Fund LLC||Health & Wellness|
|LoanAdda||Noida||-||-||ah! Ventures||PRAAK Investments, Ratnaafin Group||FinTech|
|Vesta Space Tech||Pune||10 million||-||Next Capital LLC||-||Technology|
|Generic Aadhaar||Mumbai||-||-||Ratan Tata||-||Pharmaceuticals|
|Caspian Debt||Hyderabad||20 million||Debt||U.S. International Development Finance Corporation (DFC)||-||Financial Services|