DocTalk, a Mumbai-based startup that operates a messaging app for doctors and patients, has raised around ₹32-33 crore ($5 million) in its new funding round.
The latest funding round was raised from Matrix Partners India, Khosla Ventures, Venture Highway, Liquid 2 Ventures, Altair Capital and Vy Capital, along with a few undisclosed angel investors.
The proceeds of this new funding round will be used by the company to expand the network of hospital chains on its platform. A portion of the investment will also be used by the company to hire more people to its team.
Commenting on the development, DocTalk founder and CEO Akshat Goenka said,
We are looking to hire across departments such as sales, operations and technology as we plan to expand into new cities. We also have to develop a deeper presence in our existing markets.
DocTalk was founded in 2016 by Akshat Goenka, Vamsee Chamakura and Krishna Chaitanya Aluru. It offers a mobile app that helps patients connect with their doctors. Users can connect to the platform to chat with their doctors, obtain prescriptions and share new reports with their doctors.
The company currently has presence in Delhi, Mumbai and Hyderabad. DocTalk’s messaging platform has been availed by up to 500 doctors and more 30,000 patients.
As per the report from IBEF, the overall Indian healthcare market is estimated at $100 billion. It is expected to touch $280 billion by 2020, growing at a CAGR of 22.9 percent.