Mumbai-based home healthcare services provider start-up, Care24 raised $4 million in a Series-A funding round led by SAIF Partners and seed investor India Quotient. Fresh capital raised will be used by the company to consolidate its presence across the greater part of Mumbai, and expand to more cities in India where market research and groundwork has started.
Founded in 2014 by IIT alumni Vipin Pathak, Abhishek Tiwari, Garima Tripathi, and Pranshu Sharma, the company offers care in the greater Mumbai area through background verified caregivers including nurses, attendants, and physiotherapists.
“In India, the home healthcare category is seeing a focus now and an investment in developing the standard customer-centric healthcare service delivery system is a must for achieving quality services at scale. Care24 intends on using the investment to boost its service quality, deepen its offerings while tapping the healthcare sector using technology innovations – to provide an integrated patient care,” said Vipin Pathak, co-founder and chief executive officer of Care24.
“We believe that home healthcare market is a large opportunity waiting for organised players such as Care24 who not just deliver better operations but bring to bear a new approach to the space including leveraging technology, thereby creating a superior value proposition,” said Arora, principal at SAIF Partners.
Anand Lunia – Partner India Quotient, said “We like what the team is doing in what is a very unorganized space. Today one can get the best services in every other field except in healthcare. Home care is not just about supplying nurses, but also about a high tech supported overall cure and recuperation package”
“The need for a world-class home healthcare service for bed-ridden and elderly is the opportunity we want to address. In absence of sufficient good quality healthcare infrastructure in India, this is a great problem to solve in a capital efficient way,” added Madhukar Sinha – Partner India Quotient.