Indore-based telemedicine healthcare startup Medyseva has raised Rs 15 million in pre-series funding under Startup India Seed Fund Scheme from AIC RNTU Bhopal.
The startup is working towards empowering existing healthcare offerings in Tier II and Tier III regions with a sustainable regional outreach.
The company also received funds from a group of angel investors including Mohit Gulati, Mandar Joshi, Yamika Mehra, Ankita Vashistha, Aarti Gupta and Dr Vivek Bindra which was led by Horses Stable for building a robust network of its flagship initiative of Medyseva Kendra’s in rural India.
It is focusing on telemedicine in rural India has set up Medyseva Kendras offering consultation and services like pathology, radiology, hospitalisation, ambulance and home care services.
The start-up aims to ensure every rural citizen has access to high-quality doctors and medical services at their convenience and at affordable prices.
The startup plans to utilise the funds for expanding and strengthening its IT infrastructure, adding more services to its portfolio for providing holistic patient care under one roof and onboarding specialist doctors to ensure smooth delivery of services for the rural sector.
“Currently Medyseva has 20 clinics under its flagship model of Medyseva Kendras. We soon plan to set up around 250 clinics by the end of this fiscal year. The telemedicine market has the maximum potential in the e-Health segment in India. Medyseva is gradually moving ahead increasing its presence in other states like UP, Rajasthan, Chhattisgarh, Assam and more. The first global clinic in Nepal will also be functional by October this year,” said Dr. Vishesh Kasliwal(M.B.B.S), Founder & CEO, Medyseva.
The NITI Aayog has projected that the Indian telemedicine market size is set to increase from $830 million to $5.5 billion by 2025 growing at a CAGR of 31 per cent by 2025. With the government releasing Telemedicine Practice Guidelines in March 2020, this industry is heading towards boom.