Total amount raised
$14.4 Million
Latest funding date
04/01/2017
Location
Lybrate has successfully raised funding over three rounds, with notable investors including Ratan Tata and Tiger Global Management. The platform connects patients and doctors through an innovative online and mobile-based system.
Keep reading to explore the intricacies of Lybrate's fundraising journey and the investors backing this transformative healthcare platform.
What Is Lybrate?
Lybrate is an innovative online and mobile-based platform that connects patients with doctors, operating primarily in the healthcare, information technology, and mobile industries. Based in Faridabad, Haryana, India, the company has a workforce of 101-250 employees.
Founded to make healthcare more accessible, Lybrate offers services such as appointment scheduling and online consultations. The platform collaborates with numerous clinics and hospitals, providing access to a vast network of over 150,000 doctors across various medical specialties.
How Much Funding Has Lybrate Raised?
- Amount Raised: USD 1,230,000
- Date: September 2014
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its technology infrastructure.
- Amount Raised: USD 10,200,000
- Date: July 2015
- Lead Investors: Nexus Venture Partners, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase the user base.
- Amount Raised: USD 3,000,000
- Date: April 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To introduce new language options and connect more rural Indians to healthcare.
Total Amount Raised: USD 14,430,000. Current Valuation: Not publicly disclosed.
Key Investors
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies. It has a strong presence in India and the U.S.
- Investment Focus Areas: Technology, consumer internet, healthcare, enterprise software.
- Notable Investments: Delhivery, Unacademy, Postman.
- Tiger Global Management
- Details: Tiger Global Management is a prominent investment firm known for its investments in technology and internet companies globally. It has a significant presence in both public and private markets.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, LinkedIn, Flipkart.
- Ratan Tata
- Details: Ratan Tata is an Indian industrialist and former chairman of Tata Sons. He is known for his investments in various startups and his philanthropic efforts.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Ola, Paytm, UrbanClap.
What's Next for Lybrate?
Lybrate's future looks promising as it plans to expand its services to second and third-tier cities in India, tapping into a vast, underserved market. With over 100,000 verified doctors and millions of user interactions, the platform is well-positioned to grow significantly. The introduction of new language options will further enhance its reach, connecting more rural Indians to essential healthcare services.
Given the recent $3 million funding round, Lybrate is likely to attract additional investments to support its ambitious expansion plans. The growing health tech market in India presents ample opportunities for future fundraising, enabling Lybrate to scale its operations and enhance its service offerings.
However, Lybrate will face challenges such as intense competition from well-funded rivals like Practo and the need to maintain high-quality healthcare services. Navigating regulatory and compliance issues will also be crucial as the company continues to grow. Despite these hurdles, Lybrate's innovative approach and strategic expansion plans position it well for future success.
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