The Indian Wire » Startups » Venture Catalysts, others invest $500,000 as seed funding in dermatology consultation platform Remedico
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Venture Catalysts, others invest $500,000 as seed funding in dermatology consultation platform Remedico

Car rental service startup Zoomcar raises $4.8 million from US-based parent firm

Remedico, a mobile-based healthcare platform, which provides consultation for skin problems, has bagged $500,000 (approx INR 3 crore) as seed funding from Venture Catalysts, reported Yourstory.

While, other participants, who took part in the round include a US-based investment advisors, Vida Ventures, and several angel investors including Anshumani Ruddra (VP of product at Hotstar, and Rohini Pandhi (startup advisor and angel investor).

Apoorv Ranjan Sharma, president and co-founder, Venture Catalysts said, “Skin & hair care in India is approximately a $7 Bn industry, and will grow more than $10 Bn in valuation over the next 2-3 years, with a projected 20-25% online penetration.”

Remedico was founded by Ranjit Bhatia in 2017. The platform deals with dematological problems and provides an end-to-end mobile consultation for millennials.

While, Bhatia expressed that the fresh round of investment has validated the Remedico’s belief in the need and viability of the company’s core proposition.

“From app-based consultation to developing a robust product ecosystem, we have an exciting vision with Remedico that will benefit from investors such as Venture Catalysts and Parkview, not only in terms of capital but also the expertise and mentorship they provide,” Bhatia added.

Whereas, Sharma further said that in the current landscape, Remedico’s mature product and service offering and a strong technology-driven infrastructure places it in good stead to lead this market.

Besides Remedico, other healthtech startups under radar include Ovi, PractoNetmedsmChemistMeddDeliMediCareOnGo, and MediDali.

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