Hyderabad based startup, Multiplier Solutions has raised ₹9 Crore ($1.5 Million) from Norwest Venture Partners. Not only this, Norwest has also provided ₹9 Crore ($1.5 million) funds to the ABI Health. The primary motive behind this investment is to merge both the ventures, by the next year.
Mohan Kumar, Partner at Norwest Venture Partners mentioned that the merger of both the ventures, Multiplier and ABI is to provide innovative services to the patients and to the needful people and are looking forward to collaborate with the healthcare providers. The company has a workforce of 50 employees. It earns revenue through a subscription based model and by providing their world class services to the people, but their services are comparatively costlier from the other healthcare providers, middle class people cannot afford such high class services.
Ajit Veerappan, founder and Managing Director, ABI Health has stated that “We are moving away from the traditional markets, where you have your films or CDs, to the cloud and web, completely. There is no need for huge investments in hardware and software. We take care of the entire image management for a hospital or a network of hospitals.”
In 2016, healthcare analytics startup Tricog raised a particular amount of funding from Blume Ventures, Inventus Capital Partners and others. But in the next consecutive year, home based medical services provider HealthCare at HOME secured ₹250 Crore ($38.5 Million) from Private Equity firm Quadria Capital.