IvyCap Ventures leads $3.2 mn Series A in healthcare platform BeYouPlus
Healthcare platform BeYouPlus has raised $3.2 million in Series A round of funding, led by venture capital firm IvyCap Ventures.
Other investors include Madison Capital and Singapore Angel Network, the Gurugram-based company said in a statement.
BeYouPlus will deploy the funds to strengthen its technology stack and expand services across geographies.
As part of the transaction, Vikram Gupta, founder and managing partner of IvyCap Ventures, will join the board of BeYouPlus.
Earlier known as MyDermacy, BeYouPlus was founded in 2014 by London School of Economics alumnus Ankit Khurana.
The company claims to have developed a unique model offering specialist doctors with a turn-key solution to add a procedural capability to their existing outpatient department (OPD) practice.
The company competes with VLCC, Kaya Clinic, DocsApp and Remedico, among others, in the segment.
“We remain focused and committed to bringing global gold standard medical procedures to the Indian masses at an affordable price point. It is our firm belief that the answer to India’s lack of healthcare infrastructure rests with a standardised distributed model for daycare and elective medical procedures. Our model improves the efficiency of private practitioners whilst providing healthcare consumers with a quality-assured, and reliable service provider,” said Khurana.
BeYouPlus is currently focusing on dermatology services addressing and plans to extend its model to other allied specialities in the future
The daycare procedure market in India is expected to grow to $12 billion with an estimated 40 million procedures by 2022, the statement said.
BeYouPlus had raised seed capital from Cybercarrier, Ganesh Ventures, and angel investors including the former president of Fortis Healthcare Daljit Singh.
“BeYouPlus is addressing critical issues of accessibility, transparency and standardised treatments in Indian healthcare with the help of technology. We believe that with this round, BeYouPlus team shall lay down a strong foundation for its next phase of growth towards achieving massive scale,” said Vikram Gupta, founder and managing partner, IvyCap Ventures.