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.