Home healthcare startup Zoctr raises $1M in angel funding
Zoctr, a startup that allows users to buy health-related services and home-based wellness packages online, has secured $1 million in funding from SPA Capital Group founder Sandeep Parwal, Organic Wellness' founder Krishan Gupta and other angel investors.
Former Ranbaxy executives Anil Khandelwal and Arun Purohit have also put money in Zoctr, which is run by Mumbai-based Zoctr Health Pvt Ltd, as per a press statement.
This is Zoctr's second fundraising effort. Rajeev Agrawal, partner at Ambit Pragma Ventures, had made a seed capital investment in the company three months back.
Zoctr will use the funds raised to expand services into Delhi-NCR and for partnering with hospitals and ICUs across Delhi and Mumbai. It will also use the money to enhance hiring and training activities, the statement said.
"This is an exciting time to be a start-up and even more exciting to be in the healthcare domain where the macro-economic drivers and technology application are both highly conducive. We look forward to an action-packed journey to scale in the next few years â€“ our aspiration is to be the Flipkart of healthcare," said Nidhi Saxena, founder and CEO for Zoctr Health.
Before starting Zoctr, Saxena had founded contract research firm Karmic Lifesciences Inc. Karmic was acquired by global life-sciences company Cliantha Research in January this year.
Zoctr provides a portfolio of home-based medical services, including long-term intensive care, chronic care, health check-up and others. It also provides services such as tele-consulting, home laboratory pick-ups, online pharmacy and emergency management support.
Zoctr wants to add over 20,000 doctors and health service providers with the aim of servicing five million Indians over the next few years, the company said.
"Zoctr is a disruptive home healthcare concept with unlimited potential. With the right customer acquisition model and execution capabilities, it can revolutionise the healthcare delivery model in India and globally," said Sandeep Parwal, founder and MD of SPA Capital Group.
Home healthcare is an emerging space within the overall wellness space. Another funded startup is Portea Medical, which has raised $8 million from Accel Partners and Ventureast.