DocsApp has merged with MediBuddy and together raised $20 million in Series B funding round, which was led by Fusian Capital, Bessemer Venture, Beyond Next Ventures and Mitsui Sumitomo. Also present amongst the other participants were existing investors Rebright Partners and Milliways.
DocsApp is an online consultation app where users can consult health experts, and MediBuddy is a cashless digital healthcare platform. MediBuddy is a one-stop health benefits management platform that offers preventive care services, enrollment of beneficiaries, and insurance benefits care services through various health partners that it has teamed with.
The Co-founder and CEO of DocsApp, Satish Kannan, in his tweet said that the capital raised for the joint venture will be used to develop products for customers to provide them with quality healthcare services, add more doctors to their panel and extend their customer reach.
According to a recent media report, DocsApp has witnessed an increase of 64% in their consultations associated with mental health ever since Covid-19 has spread in India. There are more than 5000 experienced doctors with different specializations including sexology, dermatology, pediatrics, and psychiatry that are connected with DocsApp.
Founders of DocsApp, Satish Kannan and Enbasekar Dinadayalane will hold the positions of CEO and CTO, respectively.
With this new merger in place, we expect to receive not such medical consultation but also other services related to health and medical care.(ref)