Thu. Mar 28th, 2024

In line with our previous report, Mfine – a healthcare startup founded by former Myntra co-founder, has managed to secure about Rs 9.5 crore ($1.5 million). The funding in the company’s seed round comes from Stellaris Venture Partners.

Apart from Stellaris, the round also witnessed participation of Mayur Abhaya and Rohit MA, healthcare entrepreneurs from Stellaris’ Founder Network.

As a part of this funding round, Stellaris’ partner Ritesh Banglani will now be joining the company’s board. Commenting on this, he said,

We are delighted to partner with Prasad and Ashutosh on their mission to take quality healthcare beyond the hospital’s walls. The seasoned founding team brings together scale execution experience and deep technology expertise to create a unique AI application in healthcare.

The funding will be used by the Bengaluru-based startup for product development and to meet the working capital requirements.

Mfine, established in February this year by Ashutosh Lawania and Prasad Kompalli, has also hired many of Myntra’s team members. Ajit Narayanan, who quit as Myntra’s chief technology officer earlier in June, has now joined Mfine as its chief technology officer. It has also hired Arjun Choudhary as chief business officer, who was the head of growth and sales at Myntra.

Prasad Kompalli, who spent four years with Myntra, and Ashutosh Lawania, who cofounded Myntra, left the company around December last year and started tinkering with the idea of using artificial intelligence in healthcare.

The company has developed a platform that provides a chat window using which patients can consult doctors from hospitals on the network. Patients can consult pediatricians, gynaecologists, obstetricians and physicians. It also enables to collect samples for lab tests and order medicines online.

By Jeet