Total amount raised
$19.5 Millions
Latest funding date
07/01/2022
Location
Eka.Care has successfully raised funds through a Series A round, with notable investors including Mirae Asset and Verlinvest. The platform offers a digitally enabled and connected healthcare ecosystem aimed at better health outcomes.
Keep reading to explore the intricacies of Eka.Care's fundraising journey and the investors backing this innovative platform.
What Is Eka.Care?
Eka.Care, founded in 2020 by Deepak Tuli and Vikalp Sahni, is a healthcare technology company based in Bangalore, Karnataka, India. The company operates within the healthcare, information technology, and medical sectors.
With an employee count ranging from 51 to 100, Eka.Care offers a digitally enabled and connected healthcare ecosystem. Their platform supports multiple health profiles, health record storage, and sharing capabilities, all aimed at improving health outcomes for Indian families.
How Much Funding Has Eka.Care Raised?
- Seed Round
- Amount Raised: $4.5M
- Date: July 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The initial funding was likely used to develop the core features of the platform and to begin scaling the business.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not publicly disclosed
- Series A
- Amount Raised: $15M
- Date: July 2022
- Lead Investors: Hummingbird Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used for product development, hiring, consumer education on the benefits of maintaining a health profile, and assisting doctors in transitioning to digital practice.
Total Amount Raised: $19.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Hummingbird Ventures
- Details: Hummingbird Ventures is a venture capital firm that invests in early-stage technology companies. They focus on supporting visionary entrepreneurs who are building disruptive technologies.
- Investment Focus Areas: Technology, Disruptive Technologies, Early-Stage Companies
- Notable Investments: Deliveroo, Showpad, Peak Games
- 3one4 Capital
- Details: 3one4 Capital is an early-stage venture capital firm based in India. They focus on investing in companies that leverage technology to create scalable solutions.
- Investment Focus Areas: Technology, Scalable Solutions, Early-Stage Companies
- Notable Investments: Licious, Darwinbox, Betterplace
- Mirae Asset
- Details: Mirae Asset Financial Group is a global financial services group based in South Korea. They offer a range of services including asset management, investment banking, and life insurance.
- Investment Focus Areas: Asset Management, Investment Banking, Life Insurance
- Notable Investments: BigBasket, Ola, Zomato
- Verlinvest
- Details: Verlinvest is a private equity firm that invests in consumer-focused businesses. They aim to support companies that have the potential to become global leaders in their respective sectors.
- Investment Focus Areas: Consumer-Focused Businesses, Global Leaders, Private Equity
- Notable Investments: Oatly, Vita Coco, Sula Vineyards
- Aditya Birla Ventures
- Details: Aditya Birla Ventures is the venture capital arm of the Aditya Birla Group, one of India's largest conglomerates. They invest in early to growth-stage companies across various sectors.
- Investment Focus Areas: Early to Growth-Stage Companies, Various Sectors, Venture Capital
- Notable Investments: Zetwork, Finbox, HealthifyMe
What's Next for Eka.Care?
With the recent $15 million Series A funding, Eka.Care is poised to capitalize on the growing digitization of healthcare in India. The platform's integration with government initiatives like the Ayushman Bharat Digital Mission and the Unified Health Interface presents a significant opportunity to expand its user base and enhance its digital health services. The company aims to use the funds for product development, hiring, and consumer education, which will further solidify its position in the market.
Future fundraising opportunities seem promising, given the strong backing from prominent investors and the increasing adoption of digital health records. As Eka.Care scales its operations and integrates more deeply with government initiatives, it is likely to attract further investment. Potential partnerships with insurance companies and other healthcare providers could also open new revenue streams and growth avenues.
However, Eka.Care may face challenges such as educating consumers and doctors about the benefits of digital health records, ensuring data privacy and security, and competing with other healthtech startups. Navigating regulatory requirements and maintaining compliance will also be crucial as the company continues to grow. Despite these challenges, Eka.Care's innovative approach and strong investor support position it well for future success.
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