India Deal Monitor: Fusian leads $9.5m funding in DocsApp and more updates

Medical consultation platform DocsApp, operated by Phasorz Technologies Pvt. Ltd, is raising about $9.5 million in a funding round led by Fusian Capital.

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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
DocsAppBengaluru9.5 million-Fusian CapitalBessemer Venture Partners (BVP) India, Rebright Partners, Milliways Fund LLCHealth & Wellness
LoanAddaNoida--ah! VenturesPRAAK Investments, Ratnaafin GroupFinTech
Vesta Space TechPune10 million-Next Capital LLC-Technology
Generic AadhaarMumbai--Ratan Tata-Pharmaceuticals
Caspian DebtHyderabad20 millionDebtU.S. International Development Finance Corporation (DFC)-Financial Services

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.