Sequoia invests in India healthcare services start-up
Sequoia Capital India has invested INR250 million ($4.6 million) into Bangalore-based Practo Technologies, a cloud-based clinic management platform. The Series A round will support the company's global expansion plans.
Established in 2008 by two graduates from the National Institute of Technology, Practo provides automated appointment scheduling and storage services for healthcare records including X-rays, files, prescriptions and billing.
The company's platform currently manages 10,000 appointments per day, with 8,000 doctors across 5,000 dental, wellness and other healthcare centers in India. The service is free for patients, but doctors have to pay a monthly fee of INR700.
"We believe Practo has the potential to become the dominant Cloud-based healthcare platform in India and we are excited about the new services that Practo is planning to launch on top of the robust platform it has already built," said Shailendra Singh, managing director of Sequoia Capital India.
Practo has also launched Practo.com, a portal that connects patients and doctors through customized search options and shares details on doctors and clinics.
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