 "Health Aggregator Zoctr raises an undisclosed amount from Brand Capital")
Zoctr, a patient-centric health aggregator platform, has raised an undisclosed sum from the Times Group (Bennett Coleman & Co Ltd.) under its innovative Brand Capital Incubator Funding Model that provides funding for long-term brand building and advertising needs of growth oriented companies against equity participation.
The Mumbai-based start-up is expecting to raise a Series A funding round to the tune of $10 million in the next six months and this deal is seen a precursor to the bigger funding round.
Zoctr aggregates home health, telehealth & remote patient monitoring services targeted at post acute, chronic & terminal patients including cancer, stroke, cardiac, kidney and post surgery patients.
This is the third round of funding raised by the company in the last nine months.
The company plans to use these funds mainly for print, medianet and radio ads for creating category awareness for home health as well as brand awareness for the Zoctr brand.
The company has plans of creating an 18-city home health operation touching 45% of India's population in the next few years riding on the back of deep medical domain expertise, robust operations and a fully integrated technology platform and mobile app.
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Says, Shrenik M. Khasgiwala, Director, Brand Capital, Zoctr is a unique and disruptive home healthcare aggregator concept with large untapped potential. “I believe, with the right customer acquisition model and the media tools to support it, Zoctr can gain a lot of visibility in the market and help them to find the right place in the consumer's life."
"Zoctr's aspiration is to touch 500,000+ Indians and be amongst the top five most recognised healthcare brands in India in the next 5 years,” said Nidhi Saxena, founder & CEO of Zoctr. “Times Group's outreach and media mix coupled with the timing of the deal shall help Zoctr create a high impact launch and reach out to a Pan-India audience thereby enabling strong brand awareness and rapid adoption of home healthcare services by consumers."
With a team of 100 employees, the company has operations in Mumbai, Delhi, Kolkata, Pune and Ahmedabad and is now gearing up for scaling to a level where it will initiate pan-India operations.