The Indian Wire » Startups » Alteria Capital infuses ₹31 cr as venture debt in healthtech startup mfine

Alteria Capital infuses ₹31 cr as venture debt in healthtech startup mfine

Healthtech startup mfine, based out of Bengaluru, has bagged ₹31 crore as venture debt from Alteria Capital.

The investment is expected to be use for growth and expansion of mfine’s hospital network to Delhi-NCR, Mumbai, Chennai in the next six months.

“At mfine we are continuing to see traction both in provider network and consumer adoption. We are able to bring high quality healthcare to users’ mobile, be it doctor consultations, medicine orders, diagnostics tests or digital tools. The recently closed series B and Alteria’s current investment are an endorsement of our differentiation and potential to create a large-scale health-tech business,” Prasad Kompalli, CEO and cofounder, mfine said.

Founded in February 2017, by Myntra co-founder Ashutosh Lawania and former business head at Myntra, Prasad Kompalli, mfine is an AI-driven, on-demand healthcare service that provides its users access to virtual consultations and connected care programmes from the different hospitals  in the country.

Mfine’s mobile health platform partners with leading and trusted hospitals instead of aggregating individual doctors. And, mfine users can consult doctors from their preferred hospitals via chat or video to get prescriptions or routine care.

“We double down on opportunities where companies are performing visibly well and provide frictionless access to capital. We are very excited to have the opportunity to contribute further to the mfine journey in a substantive manner as they change the landscape of healthcare technology in India,” Vinod Murali, managing partner, Alteria Capital, said.

In June, the startup claims that over 25,000 transactions were completed on mfine with the customer base growing at 30 per cent month over month.

Whereas, at present, mfine has a network of 160 hospitals, on its platform across 5 cities. Further, it has an employee base of 300, across Bengaluru and Hyderabad.

In addition, mfine is also looking to onboard over 2500 doctors from 250 hospitals and reach an average of 150,000 consultations per month, in the next one year.

Other alternative healthtech startups includes iClinic, 1mg, JustDoc, Teladoc, DocsApp, etc.

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