A seed round of funding of Rs. 3 crores has been raised by Integrated Child Health Record (iCHR), a digital healthcare platform that integrates child health data through cloud computing and mobility technology.
VC Circle reports that a Delhi based angel investor, who is a senior partner with Ernst and Young, helped iCHR raise the money, informed the chairperson. According to Oxyent Technologies Pvt. Ltd, the beneficiary to this money shall use it for mobile application marketing campaigns that would result in creating a stronger bonding between doctors and patients.
Veracity Leading Edge Consulting, an investment banking firm from the UAE acted as the financial consultant in the deal.
iCHR an integration platform for doctors, hospitals and patients provides vaccination records, along with monitoring growth schedules. The platform will soon be available to both android and iOS users, added Dr. Harpreet Singh.
The other tasks carried out by this healthcare platform being: obesity and malnutrition detection of the rural and urban populace, data for research purposes, making available vaccine brand and prescription management for pediatricians.
The iCHR application is sold to hospitals at a nominal charge of Rs. 500 per patient per year; inclusive of registration and usage charges of the product for the first year. Maintaining patient data for a period of twelve years, the company mails the health record back to the client at the end of this period; charging the patient one hundred rupees for data retrieval, elaborated the chairperson. Patients reaching out for the application through hospitals are charged via their credit cards .
The application which supposedly has a strength of 2,500 patients on its platform, is into the expansion mode, by tying up with big names like Apollo hospitals, 150 other private hospitals and a 1000 clinics in the coming two years, according to Singh. With plans of expansion on the horizon, both in India and some African countries, the healthcare company is already negotiating with two early stage venture capital firms from Singapore and the US, for the next round of money collection. “We may raise as much as Rs 30 crore ($4.5 million),” said Singh.
Other childcare health tech start ups in the country that have also raised funding for childcare advice include AddoDoc Technologies Pvt Ltd with $300,000; Lybrate, an online and mobile-based platform with a gross $10 million; My Child App – $100,000 and finally BabyBerry that has come home with $1 million (Rs 6.8 crore).