Total amount raised
$14.4 Millions
Latest funding date
04/01/2017
Location
Lybrate has successfully raised funding from notable investors, including Ratan Tata and Tiger Global Management, with its last funding round occurring on April 12, 2017. The platform offers a comprehensive online and mobile-based service that connects patients with doctors, enhancing telemedicine services in India.
Keep reading to explore the intricacies of Lybrate's fundraising journey and the investors backing this innovative platform.
What Is Lybrate?
Lybrate, founded in 2014 by Saurabh Arora, is an innovative platform in the healthcare and information technology sectors. Headquartered in Faridabad, Haryana, India, the company connects patients with doctors through its online and mobile-based services.
With a workforce of 101-250 employees, Lybrate offers a comprehensive range of services, including online consultations, appointment bookings, and access to a vast network of over 150,000 doctors. The platform aims to provide seamless medical care across India, covering major metro cities and several Tier-2 and Tier-3 towns.
How Much Funding Has Lybrate Raised?
- Venture Round
- Amount Raised: $1.2M
- Date: September 2014
- Lead Investors: Nexus Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish and expand the platform's initial services and user base.
- Series A
- Amount Raised: $10.2M
- Date: July 2015
- Lead Investors: Nexus Venture Partners, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance telemedicine services and expand reach in Tier-2 and Tier-3 cities.
- Venture Round
- Amount Raised: $3M
- Date: April 2017
- Lead Investors: Ratan Tata, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand services and improve platform capabilities.
Total Amount Raised: $14.4M. Current Valuation: Not publicly disclosed.
Key Investors
- Ratan Tata
- Details: Ratan Tata is an Indian industrialist and former chairman of Tata Sons. He is known for his philanthropic efforts and leadership in transforming the Tata Group into a global business conglomerate.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Ola, Paytm, Snapdeal.
- Tiger Global Management
- Details: Tiger Global Management is a prominent investment firm known for its investments in technology and internet companies globally. The firm has a strong track record of backing high-growth startups.
- Investment Focus Areas: Technology, internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify, Flipkart.
- Nexus Venture Partners
- Details: Nexus Venture Partners is a venture capital firm that invests in early and growth-stage companies across various sectors. The firm has a strong presence in India and the U.S.
- Investment Focus Areas: Technology, consumer internet, healthcare, enterprise software, financial services.
- Notable Investments: Snapdeal, Delhivery, Druva.
What's Next for Lybrate?
Lybrate stands at the cusp of significant growth opportunities, particularly in expanding its services to second and third-tier cities in India. By introducing new language options, the platform can connect more rural-based Indians to healthcare services, potentially reaching a vast rural population. With over 100,000 verified doctors and millions of interactions per month, the scope for growth is immense.
Future fundraising opportunities appear promising, given Lybrate's past success in attracting investment. The increasing use of technology in healthcare and the growing demand for telemedicine services suggest that Lybrate could continue to draw interest from investors. Strategic partnerships or acquisitions may also be on the horizon to enhance its service offerings and market reach.
However, Lybrate faces challenges such as intense competition from well-funded rivals like Practo and the need to continuously innovate. Regulatory hurdles in the healthcare sector and ensuring the quality and reliability of its services as it scales are additional obstacles. Despite these challenges, Lybrate's potential for growth and innovation in the health tech space remains strong.
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