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Doctor duo raises Rs 6 crore from Ventureast, Development Board for online healthcare venture

MediAngels was founded by Dr Debraj Shome and Dr Arbinder Singal in 2011 and raised a seed round of Rs 2.4 crore from HDFC Holdings.

, ET Bureau|
Updated: Oct 02, 2014, 02.41 PM IST
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MediAngels was founded by Dr Debraj Shome and Dr Arbinder Singal in 2011 and raised a seed round of Rs 2.4 crore from HDFC Holdings. 
MediAngels was founded by Dr Debraj Shome and Dr Arbinder Singal in 2011 and raised a seed round of Rs 2.4 crore from HDFC Holdings. 
MUMBAI: MediAngels.com, an online platform which allows patients to consult the specialised doctors from across the globe, has raised $1 million or Rs 6 crore from Ventureast Tenet Fund and Government of India's Technology Development Board. The company, founded by two doctors, is looking to raise a total $2 million in the current round of funding.

MediAngels was founded by Dr Debraj Shome and Dr Arbinder Singal in 2011 and raised a seed round of Rs 2.4 crore from HDFC Holdings, the investment arm of India's largest mortgage lender HDFC.

"The MediAngels investment shows the interest of both private funding institutions and the Govt of India, in the broad spectre of healthcare becoming more easily available, accessible and affordable, in India and globally," said MediAngels CEO Shome, who headed and developed the department of facial plastic surgery at Apollo Hospitals and Mumbai's Tata Memorial Hospital.

His cofounder Dr Singal completed his post-graduation in surgery & pediatric surgery from AIIMS with over 18 years of experience.

MediAngels provides services like online and video consultation, online medical record keeping and even ordering pharmaceuticals. The company charges Rs 250 per query and Rs 1,500 for video consultation.

The platform now has over 300 specialist doctors listed from 15 countries. It has also set up strategic partnership with over 21,000 diagnostic centers across India. Since going live in February 2011, MediAngels has treated 8,000 patients, about 1% of them coming from outside India.

The funding will be used to expand services portfolio and also provide voice based consultation. Funding will also be used to enhance operations & sales team, especially to increase tie ups with insurers and corporate clients.

"In the healthcare space, expert opinion and second opinion has a lot of relevance to both the insurers and corporates, who spend a lot on healthcare insurance of employees. In a rural location it is very tough to get an expert and it can be only done through such online platforms," said Sateesh Andra, managing partner at Ventureast.
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