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Healthtech Start-up

Practo reports 22% rise in revenue in FY24, GMV crosses Rs 3,500 crore

Health-tech platform Practo has reported a 22 per cent growth in revenue to Rs 240 crore for the 2023-24 financial year as it achieved a gross merchandise value of Rs 3,500 crore in the year, according to a company statement. The digital healthcare platform, which connects patients and doctors, narrowed its losses to Rs 17 crore in 2023-24 from Rs 99 crore in the previous financial year, the statement said. Practo stated that also achieved its first full profitable quarter in the last quarter of 2023-24 and is on its path to sustained profitability with consecutive profit in the preceding 12 months ending September 2024. Practo cofounder and CEO Shashank ND said, "Our goal has always been on improving healthcare outcomes while building a sustainable business. Our sharp focus on the core business has driven exceptional results. The company delivered a gross merchandise value (GMV) of Rs 3,500 crore in the year ended on March 31, 2024. GMV is the total value of goods and services sol

Updated On: 10 Jan 2025 | 4:42 PM IST

DigiQure to Medulance: Healthcare startups that gained from Shark Tank India

Shows like Shark Tank India have become crucial platforms for healthtech startups, offering them a chance to secure vital funding

Updated On: 03 Apr 2024 | 9:42 AM IST

Hiring in healthtech sector to grow 15-20% despite funding slowdown: Report

Even as the healthtech sector in the country has been facing an investment downturn, hiring in the segment is expected to grow by 15-20 per cent, a report said on Monday. The healthtech sector in India demonstrates resilience with a 9 per cent increase in employment in 2023, over the previous year despite a 'funding winter' impacting the flow of investments and hiring sentiments, according to HR services company CIEL HR's 'Health Tech Sector Employment Trends' report. The healthtech sector is bound to grow rapidly due to the socio-economic changes in India and the competitive advantages we offer for the world in patient care as well as in manufacturing and research and development (R&D), and there has been an upswing in hiring in the recent times on a consistent basis, CIEL HR CEO Aditya Narayan Mishra said. "Despite the 'funding winter', the hiring numbers have grown and the outlook for the year ahead (2024) is significantly stronger," he added. Hiring outlook for 2024 remains ...

Updated On: 01 Apr 2024 | 7:08 PM IST

Digital lab at fingertips: Neodocs aims to perform 100 mn tests in 3 years

The company employs diagnostic laboratory (lab) principles through a smartphone application (app) and a test card

Updated On: 26 Feb 2024 | 11:27 PM IST

Practro aims profitability next fiscal, IPO in works: CEO Shashank ND

Tencent-backed healthcare and diagnostics app Practo is aiming to turn profitable in next fiscal and is looking at a stock exchange listing with an initial public offering (IPO) soon, its co-founder and CEO Shashank ND said. Practo is looking to enhance presence in smaller cities and towns and leverage AI to analyse data and provide much better analysis and outcomes in healthcare. In an interview with PTI, Shashank said the startup is already cash flow positive. "This year we will grow by a good healthy margin... Our EBITDA would have improved dramatically from last year. We will be near break-even this year and next year is when we really will be able to show significant profits." Founded in 2008, Practo connects doctors with patients and offers several ancillary services such as telemedicine. Income from diagnostic and consulting services formed 50 per cent of the total operating revenue. In the 2022-23 fiscal (April 2022 to March 2023), the Bengaluru-headquartered firm halved it

Updated On: 03 Dec 2023 | 1:08 PM IST

Healthtech SaaS start-up Doceree raises $35 mn in series B funding

Following its entry into the US, India, and European markets, Doceree has also expanded its reach to Africa, Southeast Asia, and the Gulf Cooperation Council countries

Updated On: 27 Sep 2023 | 8:09 PM IST

To Star and beyond: V Jagannathan's Midas touch made Star Health 'sparkle'

As he gears up to launch an insurance start-up at 79, Jagannathan has the energy of a 30-year-old and the confidence of a veteran, writes Shine Jacob

Updated On: 21 Jul 2023 | 4:03 PM IST

InfoEdge subsidiary invests Rs 1 cr in healthtech startup BrainSightAI

RedStart Labs (India) has invested close to Rs 1 crore in Bengaluru-based health technology startup BrainSightAI, according to a BSE filing on Monday. RedStart Labs is a wholly-owned subsidiary of technology company InfoEdge. RedStart holds 4 per cent stake in BrainSightAI on a fully converted and diluted basis. However, aggregate shareholding of the company after the current investment cannot be estimated, the filing further stated. "RedStart has agreed to invest an aggregate amount of Rs 98,94,000 by way of subscribing to convertible notes. Since the note would be converted into shares in the next round basis the valuation at that time, aggregate shareholding of the company through RedStart, post this investment cannot be estimated at the time of making the intimation," the filing said. InfoEdge is the parent company of online classifieds such as Naukri.com, matrimony site Jeevansathi.com and 99acres.com, a property marketplace. Incorporated in 2019, BrainSightAI provides ...

Updated On: 10 Jul 2023 | 6:23 PM IST

CitiusTech Healthcare expands operations to Europe to make delivery model

/ -- CitiusTech Healthcare Technology Pvt. Ltd., a leading provider of healthcare technology services, solutions, and platforms, announced the expansion of its presence to Warsaw, Poland. This strategic move will help CitiusTech expand its global delivery model through its foray into the European market, and further solidify its position in healthcare technology. CitiusTech is committed to providing exceptional healthcare technology solutions to its clients worldwide, and this new office will focus on areas such as digital transformation, product engineering, cloud services, data, and AI. Rajan Kohli, CEO, CitiusTech, said, "We are excited to expand our operations to Poland, a country with a strong talent pool and a growing economy. This expansion will keep us closer to our clients, help us be more agile and bolster our global delivery model to deliver enhanced experience to our current clients. In addition, we are optimistic that this expansion will aid in our efforts to build a ...

Updated On: 06 Jun 2023 | 7:03 PM IST

SBI Foundation hands out Rs 30 lakh grant in Shark Tank-like pitch fest

Fund given to eight fellows working on projects around health, governance, inclusion, farming

Updated On: 12 Apr 2023 | 4:10 PM IST

India Accelerator announces Dubai foray, will invest $20 mn in start-ups

Incubator will provide start-up founders with four-month training in business growth

Updated On: 10 Apr 2023 | 10:58 AM IST

Healthtech platform Practo lays off 41 employees, mostly engineers

The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth

Updated On: 08 Apr 2023 | 2:55 PM IST

Funding for Healthtech companies falls 55% to $1.4 bn in 2022: Tracxn

Drop is mostly due to a 75% dip in late-stage investments, from $2.4 billion in 2021 to $606 million in 2022

Updated On: 29 Mar 2023 | 11:17 PM IST

Reveal HealthTech raises $4 mn in seed funding from W Health Ventures

Reveal HealthTech provides technology services to healthcare companies through engineering, clinical, and strategic support

Updated On: 23 Mar 2023 | 2:45 PM IST

Healthtech start-up BeatO raises $33 mn in Series B from Lightrock

Firm provides affordable diabetes care with a focus on people who don't have access to specialists

Updated On: 16 Nov 2022 | 5:06 PM IST

Pharma supply start-up Saveo Healthcare raises $4.5mn in venture round

Company founded by 4 IIT graduates will use money to expand its presence and for improving technology

Updated On: 28 Sep 2022 | 3:50 PM IST

Healthtech start-up Butterfly Learnings raises $1.5 mn in seed funding

Round saw participation from Insitor Partners, 9Unicorns, Venture Catalysts and a clutch of other investors

Updated On: 26 Sep 2022 | 1:47 PM IST

eHealth sector to reach $40 billion GMV by 2030, says RedSeer report

Pandemic worked as a catalyst to trigger growth within this sector, paving the way for a booming eHealth landscape that grew at 51% CAGR in 2021

Updated On: 11 Mar 2022 | 10:41 PM IST

Kenko Health raises $12 mn in Series A funding led by Sequoia Capital

Plans to utilise funds for acquiring customers, product development and building leadership team

Updated On: 15 Feb 2022 | 4:39 AM IST

Healthtech start-up K&L Wellness raises Rs 30 crore in seed round

Firm provides therapeutic based health solutions to lifestyle diseases like diabetes, hypertension, heart disease and obesity, among others, through yoga and meditation

Updated On: 17 Nov 2021 | 3:38 PM IST