DECEMBER 20209HEALTHTECH STARTUP MEDFIN SECURES SERIES A FUNDING FROM HEALTHXCAPITAL, BLUME VENTURES & AXILORealthcare startup Medfin has raised series A funding in a round led by Singa-pore-based HealthXCap-ital and Blume Ventures, Japan's Dream Incubator. The round also saw participation from Medfin's existing investor Axilor, which had seed-funded the company in March 2019. The quantum of the fund raise remains undisclosed. In a state-ment, the company stated that the fresh infusion of funds will be uti-lized to set up ambulatory care centres in Bengaluru, Hyderabad, Chennai, and Pune. A part of the capital will also be used to purchase high-end surgical equipment for daycare surgeries.Founded in 2017, Medfin enables users to look for affordable daycare surgical procedures with top doc-tors in India through its platform. Headquartered in Bangalore, the firm was founded by Arjun Kumar, Arun Kumar, and SidharthGurjar. In a statement Arjun Kumar explained that Indians will undergo nearly six crore surgeries this year. He be-lieves that 60 percent of all surger-ies can be performed at day care / Ambulatory Care Centres (ASC) by leveraging technology. "This brings down the costs for a wide range of procedures like varicose veins, fi-broids, kidney stones, hernia, pros-tate, piles etc by 40 percent with better patient outcomes," added Arjun in a press statement.Speaking about the investment Arpita Agarwal, Director, Blume said, "Healthcare in Tier I India, especially in the secondary and tertiary provider business, has become laden with disincentives and lack of transparency. Hence, the cost of good quality care in the private sector is out of reach for most Indians. Medfin represents a new crop of healthcare companies in India which are focused on bringing transparency into the industry". HBudding Bizz
< Page 8 | Page 10 >