Healthcare AI startup in India aiming high, growing fast

A healthcare AI startup striving to become the biggest provider of virtual medicine in India has gotten a boost in the form of investor dollars and friendly coverage in a prominent business journal.  

Mfine, whose platform connects patients with hospital-based physicians via smartphone app, raised $17.2 million in April. This built on two previous funding rounds beginning with the company’s seed round in 2017.

As for the coverage, Entrepreneur India reports that more than 100,000 healthcare consumers in around 800 towns have used the app over the past 15 months. And the company tells the outlet it’s enjoyed 30% growth over the past month.

The company is positioning its offering as highly reliable because participating physicians work for “top hospitals”—more than 100 so far, 250 soon if goals are met—rather than in local clinics and offices.

One of its co-founders claims the hospital model optimizes the concept’s economics to the financial benefit of both hospitals and patients.

“We have had cases from remote villages where accessing a local doctor is impossible, let alone meeting a specialist from another city,” co-founder Prasad Kompalli tells Entrepreneur India. “We have helped these patients access the best doctors in their fields without making it a financial burden on them.”

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