Home healthcare provider Care24 has raised Series-A funding led by SAIF Partners and supported by seed investor, India Quotient. The $4 million of fresh capital comes within three months of Care24 receiving the seed funding.
After assisting 3,000 patients in their recovery process, Care24 is geared to execute its expansion plan, with the received capital, in two phases. It will initially aim to consolidate its presence across the greater part of Mumbai, providing services with optimized process and maintaining high quality at scale. Care24 is steering to become the largest player in Mumbai in next three months and then expand to more cities in India where market research and ground work has started.
Vipin Pathak, Co-founder & CEO, Care24, said, “In India, the home healthcare category is seeing a focus now and an investment in developing the standard customer-centric healthcare service delivery system is a must for achieving quality services at scale. Care24 intends on using the investment to boost its service quality, deepen its offerings while tapping the healthcare sector using technology innovations – to provide an integrated patient care.”
Mridul Arora, Principal, SAIF Partners, said, “We believe that home healthcare market is a large opportunity waiting for organized plays such as Care24 who not just deliver better operations but bring to bear a new approach to the space including leveraging technology, thereby creating a superior value proposition. We are very excited to partner with the Care24 team as they continue their journey to make a meaningful impact in people’s lives while creating a robust business.”
This year-old venture is the brainchild of IIT alumni Vipin Pathak, Abhishek Tiwari, Garima Tripathi and Pranshu Sharma.