Total amount raised
$228.2 Million
Latest funding date
8/1/2020
Location
Practo has successfully raised funding over seven rounds, with the latest being a Series D. The platform is backed by 14 investors, including CapitalG and Matrix Partners China.
Keep reading to explore the intricacies of Practo's fundraising journey and the investors backing this healthcare platform.
What Is Practo?
Practo is a healthcare platform based in Bangalore, Karnataka, India. It operates in various sectors including health care, diagnostics, medical, mHealth, mobile apps, pharmaceutical, and wellness. The company connects patients with healthcare providers for appointments, check-ups, and consultations.
Founded by Shashank ND and Abhinav Lal, Practo has grown to employ between 501 and 1000 people. The platform offers services such as video consultations, lab tests, and surgeries, aiming to make healthcare accessible and convenient for users.
How Much Funding Has Practo Raised?
- Series A
- Amount Raised: USD 4,000,000
- Date: July 2012
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its technology infrastructure.
- Series B
- Amount Raised: USD 30,000,000
- Date: February 2015
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: USD 90,000,000
- Date: August 2015
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service offerings and expand the user base.
- Series D
- Amount Raised: USD 55,000,000
- Date: January 2017
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase market penetration.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and strategic initiatives.
- Debt Financing
- Amount Raised: INR 1,200,000,000
- Date: June 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial stability and support growth plans.
- Series D
- Amount Raised: USD 32,000,000
- Date: August 2020
- Lead Investors: AIA Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business operations and enhance technology.
Total Amount Raised: USD 211,000,000
Current Valuation: Not publicly disclosed
Key Investors
- AIA Groupacq
- Details: AIA Groupacq is a major investor in Practo's Series D funding round. The company is based in China and has shown interest in healthtech investments.
- Investment Focus Areas: Healthtech, technology-driven sectors
- Notable Investments: Practo
- Trifecta Capital Advisors
- Details: Trifecta Capital Advisors is a key investor in Practo's debt financing round. The firm specializes in providing venture debt to high-growth startups.
- Investment Focus Areas: Venture debt, high-growth startups, technology
- Notable Investments: Not publicly disclosed
- InnoVen Capital
- Details: InnoVen Capital is a prominent investor in Practo's Series Unknown funding round. The firm focuses on venture debt financing across Asia.
- Investment Focus Areas: Venture debt, startups, technology
- Notable Investments: Not publicly disclosed
- Tencent
- Details: Tencent is a leading investor in Practo's Series C and Series D funding rounds. The company is a global conglomerate with significant investments in various sectors.
- Investment Focus Areas: Technology, internet services, gaming
- Notable Investments: Practo, Epic Games, Tesla
- Peak XV Partners
- Details: Peak XV Partners is a key investor in Practo's Series A and Series B funding rounds. The firm is known for its investments in early-stage technology companies.
- Investment Focus Areas: Technology, healthcare, consumer internet
- Notable Investments: Practo, Flipkart, Ola
What's Next for Practo?
Practo's recent $32 million funding round, led by China's A1A Company, positions it well to expand its services and enhance its technology. The healthtech sector is seeing increased investment, particularly from international investors, indicating a significant opportunity for growth. This funding can help Practo enter new markets and solidify its presence in the digital health space.
Future fundraising opportunities appear promising, given the robust environment for startups and the successful raise of $32 million. Practo's ability to demonstrate growth and potential will likely attract additional investment. However, challenges such as intense competition, regulatory hurdles, and the need for continuous innovation could pose obstacles along the way.
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