How Much Did ekincare Raise? Funding & Key Investors

ekincare has successfully raised funds through 7 funding rounds, with backing from 19 investors including HealthQuad and MSD IDEA Studio. The platform offers a comprehensive suite of corporate health benefits, including telemedicine, e-pharmacy, and mental health support.

Keep reading to explore the intricacies of ekincare's fundraising journey and the investors backing this innovative platform.

What Is ekincare?

ekincare is a corporate health benefits platform based in Hyderabad, Telangana, India. The company operates in multiple industries, including employee benefits, health care, information services, and wellness. It has a workforce of 101-250 employees.

Founded to provide comprehensive health support, ekincare offers services such as health checkups, telemedicine, e-pharmacy, mental health support, and access to fitness centers. The platform is designed to be predictive, preventive, and personalized, ensuring high engagement and significant cost savings for its clients.

How Much Funding Has ekincare Raised?

1. Seed Round
   • Amount Raised: USD 300,000
   • Date: January 2015
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the development of ekincare's platform and initial market entry.
2. Seed Round
   • Amount Raised: USD 329,000
   • Date: March 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's features and increase market penetration.
3. Series A
   • Amount Raised: USD 1,500,000
   • Date: January 2018
   • Lead Investors: VenturEast
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
4. Series A
   • Amount Raised: USD 3,600,000
   • Date: November 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further expand the platform and increase customer acquisition.
5. Non-Equity Assistance
   • Amount Raised: Not publicly disclosed
   • Date: August 2021
   • Lead Investors: Google for Startups
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To leverage Google's resources for technological advancements and market growth.
6. Series B
   • Amount Raised: USD 15,000,000
   • Date: March 2022
   • Lead Investors: HealthQuad, Sabre Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and simplify health benefits and insurance experiences for employers.
7. Series C
   • Amount Raised: Not publicly disclosed
   • Date: April 2025
   • Lead Investors: MSD IDEA Studio
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the growth and expansion of ekincare's corporate health benefits platform.

Total Amount Raised: USD 20,729,000

Current Valuation: Not publicly disclosed

Key Investors

• HealthQuad
  • Details: HealthQuad is a venture capital fund focused on investing in innovative healthcare companies. They aim to transform healthcare delivery and outcomes.
  • Investment Focus Areas: Healthcare innovation, healthcare delivery, healthcare services.
  • Notable Investments: Medikabazaar, THB, Qure.ai.
• Sabre Partners
  • Details: Sabre Partners is a private equity firm that invests in high-growth companies with strong management teams and scalable business models. They have a diverse portfolio across various sectors.
  • Investment Focus Areas: Healthcare, financial services, infrastructure.
  • Notable Investments: Manipal Hospitals, Paras Healthcare, Aster DM Healthcare.
• VenturEast
  • Details: VenturEast is a venture capital firm that invests in early and growth-stage companies. They focus on sectors such as healthcare, technology, and clean energy.
  • Investment Focus Areas: Healthcare, technology, clean energy.
  • Notable Investments: Portea Medical, Richcore Lifesciences, Goli Vada Pav.
• Google for Startups
  • Details: Google for Startups provides resources, programs, and support to help startups grow and succeed. They leverage Google's technology and network to assist startups in various stages of development.
  • Investment Focus Areas: Technology, innovation, startup growth.
  • Notable Investments: Not publicly disclosed.
• MSD IDEA Studio
  • Details: MSD IDEA Studio is an innovation hub that supports startups and entrepreneurs in the healthcare sector. They focus on fostering innovative solutions to improve healthcare outcomes.
  • Investment Focus Areas: Healthcare innovation, medical technology, health services.
  • Notable Investments: Not publicly disclosed.

What's Next for ekincare?

ekincare stands at the cusp of significant growth opportunities, driven by the increasing importance of employee well-being in a post-pandemic world. The company aims to expand its customer base to 10,000 companies by FY25, leveraging its comprehensive health benefits platform to cater to SMEs. With the corporate health and wellness market in India valued at $7 billion and expected to grow at a 20% CAGR, the potential for ekincare is immense.

Future fundraising opportunities appear promising as ekincare continues to scale and add more companies to its customer base. The company may seek additional funding rounds to support its expansion and product development, attracting more investors by demonstrating sustained growth and market penetration. Strategic acquisitions could also enhance its platform capabilities and market reach.

However, ekincare may face challenges such as competition from other health benefits platforms, ensuring data privacy and security, and navigating regulatory changes. Maintaining high customer satisfaction and engagement levels will be crucial as the company scales. Despite these challenges, ekincare's strong growth metrics and market potential position it well for future success.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like ekincare and gather other critical business insights. Sign up for free and start making data-driven decisions today.