Kota-based healthtech startup MedCords has raised an undisclosed amount of funds from New Delhi-based venture capital firm WaterBridge Ventures, along with Info Edge, the company that operates Naukri.com.
Freshly infused funds will be used to expand the team, along with strengthening the technology platform and expanding its geographical presence.
MedCords was founded by Nikhil Baheti, Saida Dhanavath & Shreyans Mehta in 2016. The startup provides a cloud-based platform to help connect all the stakeholders in the healthcare segment including patients, doctors, pharmacies, and laboratories, to enable quicker sharing of medical records, and other data.
The startup leverages cutting-edge artificial intelligence and data science technologies to deliver intelligent insights into the patients’ condition, and ensure better treatment. MedCords is currently operational in Kota and Jalawar districts in Rajasthan, with its technology centre in Pune.
The startup is also a digital health partner for the Smart City Kota project and is a recipient of prestigious Bhamashah Technofund funding under Rajasthan Government’s Istart Program.
Talking about the investment, Sarbvir Singh, Managing Partner, WaterBridge Ventures, said, “The challenge of providing effective health care to India’s rural population is a massive one. We are impressed by the MedCords team’s passion and technology-driven approach to solving this problem. We are privileged to partner with Shreyans, Nikhil and Saida on their journey.”
Considering the segregated healthcare facilities in rural India, a majority of people travel long distances to seek out medical consultations and end up spending more than 60% of their total expenses on their medical bills. MedCords innovative approach will not only help them save time but also reduce the extra cost incurred due to their medical bill and travel expenses.
MedCords’ investor WestBridge Ventures was founded by Manish Kheterpal and Sarbvir Singh in 2016. This early-stage investment firm has invested across various domains in startups including Unacademy, ZipLoan, MagicPin, among others.