India Deal Monitor: Remedo bags pre-Series A funding and more updates

Remedo, a health-tech startup in the telemedicine space, has raised an undisclosed amount in a pre-Series A round led by River Rock Ventures, per an announcement.

Inflection Point Ventures also participated in the round with other investors including Angel List, Mohit Satyanand, Mitesh Daga (TPG Capital) and Aditya Vij (Kedara Capital).

Remedo, headquartered in Delhi, is an engagement platform that claims to help doctors better manage patients with chronic diseases and improve patient outcomes by guiding them through their care journey.

It has been reportedly connecting over lakh patients with doctors on its platform since its inception in 2017. Going forward, the company plans to expand to other specialities such as cardiovascular, neuro and respirators.

“Remedo is an integrated care provider that uses various touchpoints between doctors and patients to manage chronic conditions, providing tools to adjust to the new reality of patient-doctor moving online,” said Ruchir Mehra, co-founder, Remedo.

In the wake of the COVID-19 outbreak, the startup claims to have seen a wider acceptance among its stakeholders to adopt the telemedicine route. “Our business has witnessed 17 per cent growth in follow up visits for the doctors on the platform,” said Mehra.

India’s digital health market stood at $1.2 billion in the 2019-20 financial year, per data available with RedSeer Consulting. It is expected to touch $4.5 billion this fiscal and $25 billion in FY25.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from May 22-27, 2020.

Expand Table

StartupHeadquarterInvestment Size (Million USD)Investment StageLead Investor(s)Other Investor(s)Sector
No Worry No Tension HealthcareDelhipre-Series AAmit Burman, chairman, Dabur Healthcare
Fanbuff Esports IndiaMumbai0.47Info Edge (India) Ltd
Intellihealth SolutionsMumbai0.49
Info Edge (India) LtdHealthcare
Onsite Electro Services Mumbai10IFCConsumer/Services
Euler MotorsDelhi2.67
Series AInventus Capital IndiaBlume Ventures, Jetty Ventures India Investments, Udaan co-founder Sujeet Kumar
Electric Vehicles
Hoi Food ConceptsDelhi2pre-Series A1Crowd FundSprout Venture Partners, AngelList, Hoi FoodsFood and beverages
RemedoDelhipre-Series ARiver Rock VenturesInflection Point Ventures, Angel List, Mohit Satyanand, Mitesh Daga (TPG Capital) and Aditya Vij (Kedara Capital)Healthcare
CoinDCXMumbai2.5Polychain CapitalCoinbase Ventures
Financial services
Lateral Praxis MumbaiPioneering Ventures Agri-tech
AwfisDelhi5.3Series DBisque Limited, Link Investment TrustCo-working
Ola Financial ServicesBengaluru26.6Matrix Partners, Falcon Edge

Financial services
GramCoverNoidapre-Series A EMVC, Flourish, Omidyar Network India, Omnivore
Insurtech
PratilipiBengaluru0.67Series C British Virgin Islands-based SPV, QM 112 LimitedPublishing

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.