This article has been contributed by Mr Jitin Bhasin – CEO and Co-founder of SaveIN.
As we move forward, the intersection of healthcare and financial technology (fintech) is poised to play a pivotal role in shaping the future. “If timely and quality healthcare can be made accessible to everyone, our country will have truly evolved.” This belief underscores the crucial role of healthcare in India’s path to becoming a developed economy by 2047, marking 100 years of independence.
India’s Growth and the Healthcare Sector
Currently, India is the fifth-largest economy globally, boasting a GDP of over $3.5 trillion. The nation is on a robust growth trajectory, setting benchmarks across various sectors. However, to achieve developed nation status, the healthcare sector must undergo a significant transformation.
With a healthcare market valued at around $372 billion, the government has initiated numerous programs to bolster this sector. Initiatives like the Pradhan Mantri Swasthya Suraksha Yojana, National Health Mission, and the Ayushman Bharat Health Infrastructure Mission are key in fostering sustainable partnerships between the public and private sectors. These efforts aim to make healthcare both affordable and accessible.
India’s recent strides in digitalization have propelled it ahead of other emerging economies. The country’s efficient handling of the COVID-19 pandemic, built on a solid digital infrastructure, exemplifies its ability to execute at scale. The next wave of healthcare disruption must also be rooted in the principles of transparency, efficiency, and accessibility through digital means.
Challenges and Opportunities in Healthcare
Indian Digital Health Market
Today, India’s healthcare sector faces three primary challenges: accessibility, quality, and affordability. While many salaried workers benefit from government schemes such as the Employee State Insurance (ESI) and Central Government Health Scheme (CGHS), the public healthcare infrastructure struggles to meet rising demand. This gap presents an opportunity for increased public-private collaboration.
Despite the presence of over two million healthcare providers across the country, affordability remains a critical hurdle. While insurance penetration is expected to rise over the next decade, many medical procedures, especially elective and outpatient treatments—which account for nearly 50% of medical expenses—are not covered by insurance. These treatments remain outside the scope of insurance due to a lack of data and standardization, making it difficult to price insurance products effectively.
For inpatient procedures where insurance is more common, patients often face insufficient coverage, delays in approval, or are required to pay out of pocket before receiving reimbursement, which can take months. To increase insurance penetration and improve healthcare affordability, these issues need to be addressed.
The Role of Fintech in Bridging the Healthcare Gap
This is where fintech, particularly embedded finance, can play a transformative role. By providing on-demand credit at the point of care, embedded finance can bridge the affordability gap in private healthcare. Similar to how the consumer electronics and smartphone sectors have evolved, offering financing options for healthcare can create a revolution in the industry.
Embedded finance (EmFi) allows healthcare providers to partner with lenders, enabling patients to pay for medical services using pre-approved credit lines. These credit lines can be repaid through easy, interest-free installments. This model benefits both providers, who can serve more patients, and recipients, who can access timely medical care without financial strain.
As more healthcare facilities adopt these simplified payment solutions, the demand for such services will likely increase, encouraging people to prioritize their health. A healthier population can lead to improved productivity, contributing to national GDP growth and creating a positive economic cycle.
Over time, data from Electronic Medical Records (EMRs), treatment patterns, and demographic information will help standardize and streamline healthcare services, leading to greater efficiency across the board.
Financing Health: The Role of Fintech Companies
Fintech companies, along with the private sector, are uniquely positioned to address the affordability issues in Indian healthcare. By leveraging cutting-edge digital technologies, risk-based underwriting, and innovative product structures, they can offer solutions that cater to both patients and providers.
The fusion of healthcare and finance holds immense potential, and the process of consumerizing healthcare has already begun. The timing is perfect, as the importance of health has never been more paramount to society. With clear roles for providers, patients, and financial facilitators, the coming decade promises to bring about significant advancements in personal healthcare.
“Mental health” is a term used to describe how one feels and acts in response to life’s challenges. Our mental health affects and decides how we deal with stress, interact with one another, and make decisions. And mental health has an impact on how people perceive themselves, their life, and those in their lives. Mental health, like physical health, is essential at all stages of life.
Our mental health affects all elements of our life, and preserving our children’s mental health is a natural part of our parental responsibility. Caring for our children, both emotionally and physically, is essential to their everyday existence and independence.
Several Innovation Analysts recently investigated innovative technology and upcoming firms focusing on healthcare solutions.
Venture financing for mental health has reached an all-time high in recent years. In 2020 alone, investors spent $1.5 billion on the business. There is no lack of applications and businesses developing novel methods to make mental health treatment more inexpensive, accessible, and user-friendly. Here are a handful of our favourite mental health startups to keep an eye on:
Lyra is a healthcare benefit given in addition to a company’s healthcare package, founded by David Ebersman, former CFO of Facebook, and Dena Bravata. Employees will be able to resist burnout, be present more frequently, and maintain better overall health if they have better access to mental health services. Lyra evaluates new members and tailors advice depending on symptoms, severity, and lifestyle.
Lyra offers evidence-based care that helps patients with all aspects of their mental health, from wellness and preventative care to the most severe disorders. Lyra’s revolutionary “Blended Care Therapy” combines video therapy sessions, one-on-one chat, and digital activities prescribed by the practitioner to help people in their daily life.
Based on Cognitive Behavioral Therapy concepts, this immersive therapy paradigm with continuing support between sessions assists patients in improving more quickly.
Lyra’s curated network in the United States comprises over 5,000 coaches, therapists, and physicians, with an additional 85,000 professionals available globally through partnerships.
2. 7Cups
7Cups Homepage
People with mental illnesses or those who require ongoing therapy and monitoring are not the only ones who benefit from mental health services. Some of them are intended to assist in crucial situations or when a person feels lonely, unhappy, upset, frightened, or just needs emotional support for a variety of reasons, such as the present lockdown due to the Coronavirus epidemic.
In Your Corner, a firm established in the United States, developed the smartphone app 7Cups to give on-demand, real-time help from professional mental health counsellors and coaches. Individuals’ personal and professional growth is aided by counsellors and coaches who introduce them to meditation and breathwork practices.
Because of the service’s mobile nature, consultations are accessible 24 hours a day, seven days a week. In over 80 countries, free, anonymous, and confidential discussions with trained active listeners are provided. 7 Cups now has over 1,200 active listeners from over 80 countries, many of whom will listen for free. The website also has a support forum and over eight interactive treatments for common mental health issues.
3. Pear Therapeutics
Pear Therapeutics Homepage
Pear Therapeutics is a privately held eHealth firm that creates digital therapeutics to treat a wide range of serious disorders such as addiction, schizophrenia, pain, post-traumatic stress disorder, anxiety, depression, and sleep. Pear’s formulation technology blends pharmaceutical preparations with user-friendly, adaptable, and scientifically verified software applications.
Pear’s proprietary strategy improves patient outcomes, delivers smarter engagement and tracking tools for physicians, and cost-effective solutions for payors. Pear Therapeutics, Inc. (“Pear”) has developed the first end-to-end platform for prescription digital therapeutics (PDTs), which are FDA-approved, clinician-prescribed, and payor-reimbursed software that cures critical disorders.
PDTs, like traditional pharmaceuticals, are created in a GMP-compliant environment, tested in randomized controlled trials to demonstrate safety and efficacy, assessed and approved by authorities such as the FDA, and administered under the supervision of a prescribing doctor.
PDTs, as opposed to traditional medications, are software programs meant to capture real-world data for use by prescribing doctors, payors, and health systems in population health management.
MoodPath is a leading depression checking application that mainly keeps the check on the mood swing of its users. MoodPath was introduced in the year 2016 by Felix Frauendorf and Mark Goehring. Just like its name, MoodPath works by keeping a tab on its users moods.
The application works as an electronic clinician. Multiple questions are asked by the application and the given results are then calculated for the conclusion. This information is then passed on to the therapist. Also, the application is created in a way that it can suggest exercises to the users to gain some control over their mood.
MoodPath also behaves like a social media platform in the matter of having short videos on its platform. There are multiple short videos updated on MoodPath. These videos are used to create awareness about mental health and are also used to treat patients with their data.
Overall, MoodPath is a behavioural application working in conjunction with the doctors to help them understand the life condition of its users and also provide them with a few small practices to gain some control over the self. MoodPath is known to have 14,000 to 20,000 daily active users with more than a million downloads.
5. Meru Health
Meru Mental Webpage
Founded in the year 2015, Meru Health is a US-originated health startup program. It was invented by Kristian Ranta, Albert Nazander, and Riku Lindholm as a digital program aiming to provide better mental health for those suffering from depression.
Meru health comes under the list of telemedicine applications but is more firm to induce long-lasting effects in its users. People suffering from depression can use Meru Health to find some calmness and long-lasting results that can help in dealing with depression.
Meru health works by the use of talk therapy and keeps a tab on important factors affecting mental health such as environment, etc. Along with talk therapy, Meru Health is also known to provide wearable devices like fitness bands. These devices help out Meru Health application to keep a record of other vital information such as heartbeats and stress responses.
6. Talkspace
Talkspace Webpage
Founded in 2012, a New York-based company Talkspace is known to provide therapy by the means of mobile and the internet. The company was started by Roni Frank and Oren Frank and is headquartered in New York City. Talkspace helps its users by the medium of teletherapy.
The application works with the most basic criteria of face timing the user with an available therapist. This eliminates the need of searching for a therapist and worrying about the appointment time.
Apart from contacting users and therapists to each other, Talkspace is also known to provide the services of health insurance making the journey much more compatible and fuss-free.
Talkspace works with the mission of providing therapies and psychiatry more affordable. Talkspace has more than a 1 million users count.
Founded in the year 2012, Calm is a software company known to introduce meditating products. It was founded by Michael Acton Smith. The prime focus of the Calm application is to provide meditation and sleep patterns.
Calm has successfully created its place in the audience and has achieved several awards for its effective concept. Calm works in the clearest pattern by asking the user about their goal while signing up to the platform. The goal can fall on the list of reducing anxiety, building self-esteem, getting proper sleep, reducing stress, and many more.
The application features several meditating exercises and calming audiovisuals. These can provide much-required help to the users when faced with anxiety or stress. Calm has more than 4 million users subscribed to its services.
8. Cerebral
Cerebral Webpage
Cerebral mental health startup was launched in 2020 in California by Ho Anh and Kyle Robertson. It is a telehealth product mainly focusing on comprehensive care and medication management online. Cerebral aims to provide better control over the online care and medication services for anxiety, depression, ADHD, etc.
Users can easily get help with their anxiety, depression, and insomnia. Users can also request prescriber visits, therapies, counselling, and also the door delivery of prescribed medicines. The process of using Cerebral is quite simple with the Sign in and following is given set of instructions by them.
9. SonderMind
SonderMind Webpage
SonderMind was developed in 2014 by Mark Frank, and Sean Boyd and works as a connecting medium between the users and clinicians. SonderMind can be used by both the user and a clinician working in their way.
The patients or users can take the help of SonderMind to get in touch with the available clinician. Whereas, for the practitioners, registration with SonderMinds can help them to get more patients for themselves.
Another great advantage given by SonderMinds to its registered practitioners is the guaranteed payment from their patients. Whereas, SonderMond also provide insurance service to its users for a better and easy process of maintaining mental health.
10. Sleepstation
Sleepstation Webpage
Sleepstation is a program created by Born Digital Health. Sleepstation mainly deals with insomnia and provides a better lifestyle for good mental health. Sleepstation was invented by sleep expert Dr Kirstie Anderson.
Sleepstation works by the principle of Cognitive Behavioral Therapy (CBT) and requires the personal specific information of its users such as sleep pattern and time, medical history and screening, etc.
Sleepstation takes the help of experts and combines the information given by users to promote their sleeping time and relieve them from insomnia. The Sleepstation works by combining psychological techniques along with traditional sleep techniques and experts’ advice and experiences to help the users.
Conclusion
Mental health is still subjected to be discussed openly. Yet, the number of people falling prey to mental health issues increases rapidly. To deal with these issues, many different measures have been applied. One of them is to take the help of technology. Several different startups have been introduced to the world. Some of the top mental health startups across the globe have been listed above.
FAQs
What is the size of the global mental health market?
The recorded size of the global mental health market in 2020 was valued at $383.31 million and is estimated to cross $537.97 million by 2030.
Which mental health issues are most common across the world?
The most common mental health issues are insomnia, anxiety, and Obsessive-compulsive disorder (OCD).
Which are the leading mental health organizations across the world?
Some of the leading mental health organizations across the globe are Mental Health America, the National Institute of Mental Health, the National Alliance on Mental Illness, etc.
Are mental health startups the future of the healthcare industry?
As we all move towards the modernization era, things get changed from their traditional method. With this pace, we can assume health startups to be considered a new norm in the future world and revolutionize the future of the healthcare industry.
With the drastic change in the world and its pace. Almost all the things went into modifications. With the uncertainty in the present environment, nothing can be assumed perfectly for the future. However, few things can be assumed with confidence based on the current situations being faced by everyone. The current situations are one of the greatest examples of uncertainty, yet they are examples of correctly done predictions in the year 2020.
With the current situations and changes noticed, it can be assumed that a more revolutionary period is going to arrive and will bring complete changes within the respective fields.
Let us have a slight look at a few predictions that can work in 2022
There are many predictions done for the year 2022 in each field. Despite the current circumstances, one can assume some uplifting scenarios to occur in 2022. A few of the basic changes that are predicted for the upcoming year are shared below:
1. Working from the office is not a compulsion anymore
Earlier, it was estimated that a good job is the one that is fixed and is done from the office. People used to look down on those performing work from home or had shifting work. The lockdown initiated work from home as the new norm. This will continue to be carried out in 2022, with a few more changes induced in it according to the time and phases. People will no longer be afraid to announce their jobs as remote work.
2. Health preferred over wealth
With the pandemic lingering over our happiness. The real lesson learned by everyone in the year 2021 is that health is more precious than any other asset. Hence in the future, everyone will be more attached to wellness and health programs rather than ignoring them like earlier. There can be new norms also created by the companies to ensure the proper health of their employees. The health and wellness programs are going to be in good limelight in the year 2022. The other reason to arrange those programs can be to help out certain people still in depression and coping hard with their griefs.
3. Preferred use of Online sources than traditional method
Earlier there was not much recognition for those working with online platforms such as YouTubers. The majority of the crowd used to consider them as side business only. However, after the changes induced by lockdown and the pandemic, there will be open recognition for those working on online platforms also. They already had a spike in their business, and this legacy will be carried out in the year 2022 also.
4. Online Conferences will be accepted
Zoom Logo
During the pandemic, it was impossible to make people gather in one room. Hence, people started taking the help of online platforms such as Google to meet, Zoom, etc. They allowed the meeting to happen but in a new way. In the year 2022, the same procedure will be followed. There can be some new terms proposed for it, but it will still stick as a general routine for many people.
5. Different solutions for same old issues
We all know about the scarcity of food which is going to be faced by all of us in 2022. Hence to work with that situation, different food times will be included in regular diets such as aquatic animals and plants. Along these, similar situations will be required to have a new solution for the survival of the human race. There will also be the addition of vaccination drives concerning other diseases.
6. People more opening up to their choices
Working in a stressful environment will eventually have a great impact on the work done by the employees. The pandemic taught people how to deal with different kinds of people easily by setting up examples now and then. There will be more space required by employees while working. Any intrusion in it will cause a backlash by employees. Employees will no longer be threatened by the employer and will be ready to stand against wrong. Employees will also no longer feel the need to stick with one employer only if feeling unsatisfactory.
7. The offline world will need to compete with the online world
The graph shows the E-commerce share of global retail sales from 2015 to 2021
Online Retailer stores such as Amazon and Flipkart are giving hard competition to offline retailing stores. In 2022, there will be a need to create new strategies and implement different methods for offline stores to work. Not just about a retail store. Every offline store is facing a hard time due to online platforms. Hence, in the year 2022, we will be seeing the hardships faced by offline stores against online ones. The hardships will be more complicated as the online platforms are getting updates daily. These will eventually have an impact on the economy of the country.
8. Cryptocurrency will be the new currency
In the year 2022, cryptocurrencies can be estimated to be used in local markets also. They can be on the verge of exchanging local currency. There will be more job opportunities found in the field of cryptocurrency and many people will try out their luck in it. In the year 2022, various programs can be initiated to make cryptocurrency accepted by the world on a great scale.
9. More interference from AI in workplaces
The use of technology for the betterment of people and easy handling of work will set a new mark in 2022. There will be more introduction of automated plans in factories to reduce the manufacturing cost and to have more production in less amount of time. It will be a revolutionary period for factories. However, this will eventually lead to fewer jobs being given to people as more work will be done by machines only.
With the changing world, many things have changed. And in the future, many things will continue to change. As we reached the mid of 2022, few predictions about the rest of the year can be made easily. The essential changes that will be followed up in the next year and the things that will still be going on the same level for next year also. Some of them are listed above.
FAQs
What jobs will be in demand in 2022?
There will be many jobs in demand once the normal circumstances get back in the world. Some of them are system analysts, blockchain engineers, product managers, full-stack developers, etc.
What new changes can be accepted in 2022 after the pandemic?
Changes like contactless delivery, cashless payments, etc. can be defined as new norms after the pandemic.
Does one need to prepare for 2022 amid a pandemic?
One needs to be well prepared for the future irrespective of its uncertainty. Planning is an essential point to fulfill before starting any great thing.
The Indian insurance industry has witnessed significant progress with both life and non-life insurance growing at a CAGR of 17% and 14% respectively in the past five years, according to a BCG report. The total number of lives covered in this period has doubled from 12 crores to 23 crores.
Although the Indian insurance market is underpenetrated as compared to the global leaders such as the United States. There is a lot of scope for growth and with the outbreak of Covid-19, there has been a major change in the perception of Indian consumers regarding the awareness of their health and the requirement of a health insurance policy.
The pandemic paranoia has led to a near 7% increase in the intent to buy insurance globally. Moreover, research by “The World Insurtech Report, 2021” by Capgemini, stated that around 50% of the customers today are willing to consider insurance coverage from a new age player (insurtech startup).
This clearly states that the demand for the insurtech industry is rising globally and India is also witnessing the same trend. Not only from the consumer perspective, but even the investors’ are also betting more in this industry. The insurtech startups in India raised $822 million in 2021 which was 166% higher than the previous year.
Driven by the shift in the mindsets of the people for insurance products after the pandemic, simplified processes by the digital insurance players, low premium insurance offerings and increased investors’ interest, the insurtech industry in India is expected to reach $339 Bn by 2025.
Insurtech industry is in the growing phase post-Covid, with the existence of more than 110 insurtech players in the country. All these players are focused on offering not only the common life insurance offerings but also non-life insurance covering health, education, vehicle and other areas.
The focus on health insurance has risen post-pandemic with the rise in the health awareness of the people. Thus, it has been the major focus of most insurtech’s as well as healthtech startups.
About Even
Startup Name
Even
Founded
2020
Founders
Mayank Banerjee, Matilde Giglio, and Alessandro Davide Lalongo
Funding Raised
$5 million
Key Investors
Khosla Ventures, Founders Fund (led by Peter Thiel), Lachy Groom, Kunal Shah, and Nikesh Arora
Business Model
B2b-B2C
Primary Competition
Kenko
User Base
40+ Users on the Waitlist
Even, a Bengaluru-based healthtech startup, founded in April 2020 by Mayank Banerjee, Matilde Giglio, and Alessandro Davide Lalongo, is a healthcare membership company that partners directly with the top hospitals to provide fully-cashless and quality healthcare accessible to its members.
It is currently operational only in Bengaluru. The company claims that anyone who opts for being its member can avail of unlimited consultations and diagnostics, also a hospitalisation cover of 50 lakhs annually.
It has tied up with major hospital chains such as Fortis and Narayana Health. The company currently has 40K+ applicants on the waitlist and has plans to reach more than 1 lac users in major cities such as Delhi, Mumbai and Bengaluru.
Covid-19 not just accelerated IPD (In-patient department) but also accelerated the demand for OPD (Out-patient department) including regular doctor consultations and check-ups not requiring hospitalisation of the patient. The OPD market is expected to reach $37.5 billion by FY2024, according to research by Praxis Global Alliance.
Most health insurance companies usually don’t cover OPD expenses and the ones which cover it have immense paperwork and tiresome process, that’s where Even wants to position itself. It wants to bridge the gap and make healthcare easily accessible with its partner network.
Although the company claims to be a subscription-based healthcare service provider, it compares itself with the other health insurance providers. Let us actually compare its offering with other insurance providers and see how better it is than theirs. Let’s look at the table below to understand how Even fairs compared to other insurance providers.
Even Vs Other Insurance Providers: Which Is Better?
Parameters
Even
Other Insurance Companies
OPD
Yes
Yes
Price
High
Low
Starts from Day1
Yes
No
Exclusion of Existing Disease
Yes
Yes
Cashless
Yes
Yes
Hospital Network
21+
2k-16k
Initial Waiting Period
0 Days
30 Days
Co-Pay
0
10-30%
Age Limit
0-64 years
5-80 years
Minimum Term
3 months
NA
Cover
50 Lakh a year
5 Lakhs a year
Is Even Really Disrupting The Healthcare Insurance Industry?
It is clearly evident from the comparison table that Even is offering sort of similar or even fewer benefits as compared to health insurance at a higher price. Not only this, it excludes a lot of benefits in its membership which are otherwise included in the other health insurance companies such as Maternity care, Home health care, and AYUSH treatment.
When we reached out to the customer care executive of Even, they themselves were not clear about what is included and excluded in the membership and had to reconfirm with other team members.
The major issue with Even is that it currently has a very small partner hospital network of only 21 hospitals so the benefits of the membership can only be availed in those hospitals and although it claims that it can make possible the out of network emergency care (emergency care for members if they are outside Bengaluru), how much of it is actually possible still remains a question.
Although there is immense potential in the insurtech industry and hence, a lot of players are entering the market since public money and health is involved in it, these players will remain under the regulator’s purview. There are chances that a lot of such players may run into conflict with IRDAI (Insurance Regulatory and Development Authority Of India) rules.
Even has a clinical establishment licence from Karnataka Government, it has partnered with Cholamandalam MS General Insurance to offer a hospitalisation expense coverage ranging from ₹5 Lacs to up to ₹50 Lacs in its premium (Even Plus) plan which comes under the group policy with the insurer.
Thus, we see that Even and other such health subscription startups buy group health plans from the insurer and onboard retail users and add them later as policy members. Thus, the insurer is underwriting the company and later underwrites the retail customer, but if in case the company faces any issue, the customer may not have anyone to go to for claiming its subscription.
Conclusion
Even though the model of health subscription is aimed to ease the process for the customers and seems intriguing, it is yet to be discovered how these subscription-based healthcare startups such as Even will sustain in the long term given the ambiguity in the regulations and highly unorganised nature of OPD market in the country which may lead to the higher risks of frauds for them.
FAQs
What is Even?
Even is a healthcare startup that provides cashless and unlimited OPD insurance health cover.
Who are the founders of Even?
Even was founded by Mayank Banerjee, Matilde Giglio, and Alessandro Davide Ialongo.
Which health insurance has the highest hospital network?
Care Health Insurance Limited has the highest hospital network. It has more than 16,500 network hospitals across India.
The hunger for success makes you forget about health. You might be engrossed with your startup but don’t work yourself to death for a bright entrepreneurial future. A wise man once said that health is wealth.
The healthcare sector is growing rapidly in the Indian landscape, in terms of revenue as well as market share. The Indian healthcare industry pegged at $100 billion is expected to grow by 23% by 2020 to $280 billion. This growing market has given rise to many health-tech startups in India. They cater to various healthcare segments, help book appointments, sell medicines online, and operate as a commercialized unit of the venture.
We have also covered a list of Pharmaceutical Startups in India.
In this post, we take a look at some prospering, promising, and growing health startups in India. Here is a list of healthcare companies in India:
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One of the biggest healthcare startups in India, Netmeds is an online platform that has firmly established itself as India’s leading online pharmacy with millions of active customers and deliveries to more than 19,000 PIN codes. It is also called ‘India ki Pharmacy’ and offers streamlined shopping for medicines and other healthcare products through its 24×7 online portal and mobile app.
Netmeds is supported by over 14 logistics centers spread across the country. Netmeds has a multilingual voice, chat, and email customer care center and a team of licensed pharmacists who receive, digitize, and approve millions of handwritten prescriptions.
In 2018, Netmeds had 3 million downloads and grew to more than $512 million; it is projected to top $3.645 billion by the year 2022.
ImpactGuru
ImpactGuru Website
ImpactGuru is a tech-for-good platform founded with a vision to make healthcare accessible to all and save more lives. It provides comprehensive crowdfunding solutions to empower individuals, NGOs, and social enterprises to raise funds for medical emergencies and other similar causes.
Docplexus
Docplexus Website
Docplexus is a platform for doctors where they can create their own communities and discuss problems with other doctors from all around the world. Founded by Phanish Chandra, an IITian, Docplexus has more than 2,75,000 Doctors as its members. It is a free platform; however, one needs to be a licensed doctor to create an account on DocPlexus.
Mera Medicare
MeraMedicare Website
Founded by Pankaj Gupta, MeraMedicare is a healthcare startup. MeraMedicare provides home delivery of medicines in 2 to 12 hours with a 15% discount on almost all medicines. It is a reliable and hassle-free option for ordering medicines.
3Hcare
3Hcare Website
3Hcare is a Delhi-based healthcare startup. It is an online marketplace for healthcare services. 3Hcare provides detailed information on healthcare services across India. Users can simply log on to 3Hcare’s website and find out about diagnostic centers and hospitals as per their requirements. The name “3Hcare” stands for “Help, Health, and Happiness” and signifies the startup’s vision to help people maintain their health and happiness.
Ekincare
Ekincare Website
Ekincare is one of the most innovative health-tech startups in India. Ekincare provides people with the facility to save their medical documents and access those documents anytime from anywhere. Ekincare keeps your data secure and also lets you understand your medical data in a simplified manner through graphical charts and visuals.
Practo
Practo Website
Practo is one of the world’s leading healthcare platforms and an independent medical website that focuses on patients connects millions of patients with healthcare providers and doctors around the world and helps people make better healthcare decisions.
Practo helps its consumers manage healthcare requirements such as searching for healthcare experts, booking an appointment with doctors, online doctor consultation, getting their tests done, and ordering medicines online. Practo is a patient-focused medical website and has over 1 lac doctor profiles from all over India and Singapore. Practo is a free service for the patients and the doctors.
Practo also provides its users with a diagnostics search feature on its web-based platform through high-quality photographs and filter options. It lets users manage their reports and medical data using the app.
Practo is a Bangalore-based health-tech startup launched in 2008. Practo was founded by Shashank ND and Abhinav Lal. They built the software platform to digitize their health records and facilitate online consultations.
PharmEasy
PharmEasy Website
One of the top healthcare startups in India, PharmEasy is a Mumbai-based pharma platform founded by Dharmil Sheth in 2015 .PharmEasy is led by Bessemer Venture Partners and Orios Venture Partners. It is one of the most successful healthcare startups in India. PharmEasy is currently operating in seven cities—Delhi, Mumbai, Bengaluru, Kolkata, Pune, Jaipur and Ahmedabad—and has over 150 partner vendors.
It was launched with a vision to deliver medicines at affordable rates by optimizing supply chain and logistics. PharmEasy now serves more than 100,000 families. The PharmEasy app lets users place orders with just three clicks and re-ordering can be done in one click. It plans to build an ecosystem using technology to connect patients, pharmacies, doctors, diagnostic centers, and healthcare service providers so that each can interact with the other hassle-free. PharmEasy also connects pharmacies spread across the cities, towns, and villages of India.
AddressHealth
AddressHealth Website
AddressHealth was founded by Anand Lakshman in 2010 to ensure that every child attains a state of positive health. AddressHealth is India’s first one-stop-shop for pediatric primary healthcare services.
AddressHealth presently operates three clinics in Bangalore and provides comprehensive pediatric healthcare through clinics and schools for children and adults. AddressHealth has partnered with the government in the MR Vaccine program. AddressHealth reached out to 300,000 students through schools till 2017. It received funding of $1.5 million in series A from Grey Matters Capital and Unitus Seed Fund.
Consure Medical is a Delhi-based company founded by Nishith Chasmawala and Amit Sharma in 2012. It is an emerging medical device company that focuses on developing and commercializing novel critical care technologies for 80% of the global population that does not have access to subsidized healthcare. Consure Medical delivers fecal incontinence therapy devices.
Consure Medical delivers a solution for fecal containment to assist bedridden patients. Qora is an applicator inserted into the anal cavity to provide a pathway for stool diversion with very little leakage. It offers Qora stool management kit which contains an indwelling fecal drainage device for the management of fecal incontinence and can be used across a continuum of care facilities, from ICUs to nursing homes. The company is also operational in San Francisco, California.
DocTalk
Doctalk Website
DocTalk is a Mumbai-based healthcare software application to store medical reports and prescriptions and share the same with your doctor. It was founded by Akshat Goenka and Vamsee Chamakura in 2016. DocTalk provides an AI-based virtual assistant application to simplify the healthcare ecosystem of India.
It allows patients to safely save all their medical reports and files on the cloud which can then be accessed from anywhere digitally.
HealthKart
Healthkart Website
Healthkart is a Gurgaon-based company founded in 2011 and offers various fitness products and services to help consumers achieve their fitness goals through its e-health store. It is one of the biggest medical e-stores in India. Healthkart offers various healthcare products such as nutrition supplements, diabetes supplies, home medical devices, and baby care products. These products can be ordered online and are delivered by HealthKart personnel to ensure safety. The healthcare platform was initially launched as a website and a mobile app that would function as a generic drug search portal. It has now become a marketplace for customers to search and purchase much more than just prescribed drugs.
Approximately 80-90% of the supplements sold in India are imported from developed countries like the US and Europe. Heavy customs duty on supplements attracts large amounts of parallel or unethical imports. Given these products have been illegally imported into the country, sourcing information is not available and thus quality becomes a question. HealthKart provides 100% authentic products to its customers by maintaining:
Tight control over the supply chain.
Quality control during distribution.
14 days hassle-free return policy.
The company has also launched FitUp which is an app for health and fitness supplements. It offers free assistance and nutrition counselling.
BeatO
BeatO Website
Founded for diabetes patients, BeatO provides a convenient and smart device to measure blood sugar levels. You can use them with your smartphone by putting it in the headphone jack and using the strip to measure your blood sugar level. After you measure your blood sugar, it offers you suggestions and shares the results with BeatO’s experts if medical intervention is needed.
Niramai
Niramai Website
Founded in 2016, Niramai wants to minimize fatalities attributed to breast cancer. Breast cancer, which most females take for granted in the initial stages, is one of the most common forms of cancer among women. To make it easier to detect breast cancer at an early stage and that too at a lower cost, Niramai uses thermal analytics and artificial intelligence. The technology is mobile; therefore, offering ease of access and usage.
CrelioHealth (formerly LiveHealth)
CrelioHealth Website
Founded by Abhimanyu Bhosle and Mukund Malani in 2013, Live Health makes it easy for healthcare providers to provide their services. Live Health makes the process for labs easier as they can access the information and reports of their patient online. Live Health also helps clinics and labs with operations, marketing, administration, etc. Through Live Health, labs and clinics can focus on their internal processes and the patients instead of worrying about business factors.
Lybrate
Lybrate Website
Available in 4 cities, Lybrate helps find the perfect doctor near you. Many times, a doctor’s visit isn’t out of necessity but for one’s satisfaction. To save your time as well as of the doctor’s, you can consult the doctor on Lybrate. There are more than 1,50,000 professionals who will help you with Lybrate.
Criador Design Labs
Criador Design Labs Website
Criador Design Labs was founded by Abhishek Reddy and Hitesh Devara in 2017. Criador Design Labs is a product design firm that develops new, innovative hardware technology products for consumer healthcare sectors.
The latest product by Criador Labs is EVE Health, a smart water bottle designed to improve medication adherence amongst patients with chronic diseases. It helps patients to stay aware of their dosages and reminds them when it’s time to take their medication. The bottle holds a patent-pending technology with sensors tracking medication intake and a Wi-Fi chipset sending live data to the servers. The data is analyzed and custom notifications and reports are sent to caretakers, hospitals, and insurance companies for taking appropriate actions.
Green Cure Wellness
Green Cure Wellness Website
Green Cure Wellness is one of the leading health startups in India founded by Sanchit Garg in 2015. Green Cure Wellness manufactures herbal personal care and health care products of international quality. It has a team of scientists in Germany who develop high-quality formulations adherent to the European norms.
Germany is the world’s leading technology hub for herbal and natural products. Green Cure leverages the age-old wisdom of Ayurveda coupled with German expertise to manufacture products that are free from side effects.
Health is imperative for success in all aspects of life. The concept of startups is trending today and trends tend to change the world. So healthcare startups, without any doubt, are a significant game-changer.
FAQs
How many healthcare startups are there in India?
There are nearly 5,295 health tech startups in India.
What are health tech startups?
Health tech startups are startups that have an online platform to provide healthcare solutions such as healthcare products, medicines and diagnostic tests.
A healthy and fit body is essential for a human to perform the best. For the right reasons, of late, there has been increasing consciousness among individuals about fitness and health. Consequently, the fitness industry has been growing immensely. Keeping up with our new formed habit of searching for every solution online, many platforms providing guidance on fitness and health online, are also emerging. One such startup that is guiding you to attain your fitness goals is Miten Says Fitness.
Miten Says Fitness (MSF) is a digital-based platform that provides online fitness training services and has some of the best fitness trainers in India. MSF provides personalized fitness solutions (in the form of weekly Diet and Workout Plans) that are completely customized to the requirements of each of its clients – taking into consideration their current lifestyle, body condition, preferences, limitations, and fitness goals.
Miten Says Fitness (MSF) is a Mumbai based startup that provides personalized fitness solutions to its clients through weekly diet and workout plans. These plans are updated every week – taking in any feedback and assessing the progress made by the client.
How MSF Works
This approach ensures that the plans become more and more sustainable for the clients. Also, the weekly updates hold the clients accountable to follow through with their fitness journey while Miten Says Fitness provides clients with the service remotely.
The functioning of Miten Says Fitness is quite simple. First, the customer selects any of the numerous permutation combinations of options available on the website and signs up through its portal.
MSF Workout Plans
Once they sign up, the clients receive a document called- MSF Fitness Questionnaire. This questionnaire allows the team to collect complete details about the clients’ body, lifestyle, preferences, limitations, and fitness goals, along with their body photos.
Based on the response to this questionnaire, the MSF team create a plan for Week one. The plan includes details of exactly what food they need to eat, in what quantity, and a brief recipe which makes their meal plan tasty (and not just limit themselves to boring, bland salads).
Besides, clients also get a personalized workout plan (which can be done at home or at the gym – based on client preference) that details the exact exercise that they need to do along with the correct number of sets, reps, the rest period and a brief description of the correct form to execute these exercises.
A couple of buffer days are provided to the customers so that they can arrange for groceries and other necessary material to start with their Week one. As the customer starts, the company has to be informed.
Around day 5, Miten personally collects feedback from them and prepare their week 2 plan accordingly, and so on!
Miten Says Fitness provides a wide range of fitness services. The prominent ones are,
Helping its clients with a laid down path to enable them to achieve their fitness goals.
Enabling access to world-class fitness knowledge and expertise right at their fingertips.
Making personalized fitness programs affordable to its consumers.
Educate its clients with the correct information
The USP of MSF is;
They provide the services of a personal trainer and a nutritionist under one roof.
They provide the right level of support, motivation, and guidance to ensure that their clients feel empowered to religiously follow their fitness journey – despite being remotely available to them.
The core belief of Miten Says Fitness is to always provide value to its audience (on Social Media) and its clients and deliver results above expectations.
Miten Says Fitness – Founders and Team
Miten Kakaiya is the founder of Miten Says Fitness (MSF). He studied MEng (Hons) in Aerospace Engineering from the University of Manchester. He also worked with Airbus in the UK for an year before setting up MSF.
Miten Kakiya – Founder of Miten Says Fitness
Today, MSF is a team of 9 highly motivated individuals driven to leave a meaningful and positive impact on the lives of MSF stakeholders.
Miten Says Fitness – How was it Started?
The idea for MSF occurred unusually to Miten Kakaiya, founder of MSF. During his sisters’ wedding few of his cousins approached him for fitness tips given his interest in fitness. In the process of guiding them and getting tangible results; Miten found a business idea in it.
Miten Kakaiya, during his stay abroad for studies, has come across multiple Online Personal Trainers.
A few of the personal trainers I came across, really made a huge impact on my decisions in shaping the company. I observed them grow over a span of 2-5 years and carefully analyzed the strategies employed by them to climb the ladder of success – quotes Miten.
Fascinated about the concept of online personal trainers, Miten envisioned starting something along similar lines in India. He studied the fitness industry in India very closely to understand the micro details of the market. From his research, he realized that there are few gaps in the Indian fitness industry and that there are only a few online personal training service providers.
Miten started working on his concept by helping a few dedicated individuals from his neighborhood gym at a very minimal cost. It was this careful assessment of finding motivated and dedicated individuals that helped validate the potential of his idea.
MSF started off with basic services like detailing what food the clients need to eat and what workouts/exercises they need to do. As the team received feedback from their consumers, the team started including more details on their services.
MSF came up with client transformation plans, which included things like recipes for every single meal – making their diet food super tasty and easy to cook and sustain. MSF also started including information about the exercises and details like how to correct the form and basics to keep in mind while exercising.
Our next step is to introduce a video trainer alongside – which makes the implementation of the program hassle-free for our consumers. Our focus has always been on providing value to our audience and to our clients. This simple fundamental has helped us keep our customer acquisition costs low while also ensuring that we deliver quality services. Hence, we are always on the lookout for improving the overall experience of customers.
Miten taking inspiration from his overseas Online Fitness Trainers, wanted to follow the formula of – First Name + Last Name + Fitness, to name his brand. But the formula somehow didn’t work. Narrating the story behind the name Miten says-
I didn’t really like the sound of Miten Kakaiya Fitness or MKF. And so suddenly, one night MSF struck me, and I named it as Miten Says Fitness.
Miten Says Fitness Logo
Miten Says Fitness – Business Model and Revenue Model
Miten Says Fitness follows a simple B2C model of operation. MSF products are priced between INR 1,200 to INR 30,000/-. During the sale season, they have their products going as low as INR 250, as well. Since this is an online service package, they do not have any raw material costs associated, allowing price flexibility.
Besides, their team is also very lean for now. These factors allow high-profit margins for MSF, and these high margins are being used to re-invest into the business, mainly for Product Development and Marketing.
Miten Says Fitness – User Acquisition and Growth
Prior to launching MSF officially, Miten worked with a couple of clients to understand the potential of the idea in a better manner. These clients have been able to follow the diet and workout schedule dutifully. Gradually, positive results showed, which gave Miten an encouraging push to boost his strategy. He thereon started marketing his services online.
In the initial phase, Miten’s customers were mainly his friends and acquaintances. Through mouth referrals and digital marketing, Miten was able to popularize his services. Social media was extensively used by MSF to propagate their services by creating valuable content, spreading true information, and showcasing the incredible benefits that MSF clients have achieved.
MSF’s major source of client acquisition is social media. It allowed them to disseminate information at free of cost. Besides, it has proven to be a trusted platform to gain access to customers. The MSF team then works to convert their social media followers to customers.
Miten Says Fitness Instagram Marketing
As MSF got a hold of a good number of clients, MSF has flagged of offers and value-added benefits to its clients regularly to gain more clients besides, retaining the clients.
We are investing heavily right now into growing the reach of our social media and providing our followers with more and more free, authentic, and valuable information. Apart from that, we have plans to get a small scale, but impactful influencers on board to help us increase the reach and authenticity of our brand and our services – says Miten explaining the customer acquisition strategy.
Initially, it was quite a task for Miten to convince his parents and his close social circle about the online fitness training service providers, given it is fairly a new concept for the Indian Market. Nevertheless, with a clear and structured planning process, Miten was able to convince them successfully.
A major challenge for MSF was to make its clients follow the plan regularly and be committed. Unlike other products, here the clients have to buy a package and also put in efforts so as to reap benefits – that is, improved health and fitness levels.
To increase the awareness among the public concerning fitness and to improve the brand image of MSF they have introduced, the MSF Transformation Challenge. It is a fitness challenge wherein a bunch of people sign up together and are bound by limited dates.
MSF Transformation Challenge
The best three transformations during this period win Cash Prize from MSF. So far, they have had five editions, and all of them have been a huge success.
Now we are planning to bring it back again next year – bigger and better than ever before!
Miten Says Fitness – Funding and Investors
MSF has completely relied on money generated from the MSF business itself. Right from day one the company started generating revenue.
All the money generated is re-invested for content creation and on marketing to acquire more customers with the help of Social Media.
Miten Says Fitness – Advisors and Mentors
Miten, by virtue of studies, has developed a social circle dominated by Entrepreneurs, who are guiding him in his venture and has played a good role in shaping up the organization
Miten Says Fitness – Awards
Miten Says Fiteness has been recognized for the efforts it has put to make people live healthy and fit. Awards received by the platform are-
Radio City Mumbai City Icon Award for Excellence in Nutrition and Lifestyle in 2019.
GHP News 2019 Fitness and Nutrition Awards- Best Online Fitness Training Specialist- India
Featured on Mensxp platform for 31 days fitness challenge introduced.
Miten Says Fitness – Future Plans
MSF is currently operating from Mumbai. Miten Says Fitness has so far helped more than 1000 clients in 26 countries across the globe. The Platform is experiencing a steady growth rate of 100% YoY since inception, and aims to help 100,000 individuals from across the globe as a part of the five year plan.
Our goal is to remain as lean as possible. Implement newer technologies and invest more in product development. In the long term, we want MSF to be analogous with fitness in India and Indians across the world – Miten quoted explaining the company’s future plans
FAQ
Who is the founder of Miten Says Fitness?
Miten Kakaiya is the founder of Miten Says Fitness.
What is Miten Says Fitness?
Miten Says Fitness (MSF) is a Mumbai based startup that provides personalized fitness solutions to its clients through weekly diet and workout plans.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Kapiva.
Ayurveda is regarded as the oldest of the sciences, which focuses on healing our bodies and minds. The healing science, Ayurveda translates to “The Science of Life” in Sanskrit, the knowledge of which originated in India dating back to around 5000 years ago.
Also known as the “Mother of All Healing”, Ayurveda stems from the ancient Vedic culture when it was taught in the oral form in a Gurukul tradition by accomplished masters to their disciples who lived at their residence. In fact, many of the alternative medicinal sciences and therapies like homeopathy and polarity therapy are believed to have their roots in the ancient Ayurvedic principles.
Ayurveda is a complex form of alternative medicine that includes “panchakarma” or five actions, yoga, massage, acupuncture, and herbal medicine for the health and well-being of the body and mind.
Though much of the Ayurvedic knowledge of the past has been buried with it, some of them managed to be scripted and percolated to the present generation. Kapiva is one such brand that holds on to the ancient principles of Ayurveda and tweaks them to fit modern lives. The Modern Ayurvedic Nutrition Brand is based on the holistic approach to wellness and not just a curative science.
Read on to know the full story of about Kapiva, its Founders, How was Kapiva Started, Name, Logo and Tagline, Vision and Mission, Products and Services, Target Market Size, Business and Revenue Model, Startup Launch, Customers/Clients, Challenges, Investors and Funding and more.
Kapiva: Company Highlights
Company Name
Kapiva
Founders
Ameve Sharma & Shrey Badhani
Sector
FMCG
Founded
2016
Registered Entity Name
Adret Retail Pvt Ltd.
Website
kapiva.in
Kapiva: Latest News
October 27, 2021 – Malaika Arora backs Kapiva. The Bollywood actress will be joining as a strategic investor, brand ambassador, and ‘wellness mentor’ at the Kapiva Academy of Ayurveda.
Kapiva can be regarded as the “India’s 1st Modern Ayurvedic Nutrition Brand” that offers food-based innovations to help build healthier lifestyles for the Indians. With the rich legacy of Baidyanath, Kapiva acquired the knowledge and the authority to amalgamate traditional Ayurveda with the modern forms of nutrition.
Kapiva is derived from the three doshas in the Ayurvedic universe – Kapha, Pitta, Vata, which when balanced in a body, bring overall wellness. As mentioned earlier, the brand is established on the belief that Ayurveda is a holistic approach to wellness and not just a curative science.
The Ayurveda-inspired nutrition brand brings a range of organic fruits, vegetables, and other food products to improve the lifestyle of the present generation. The company also brings diversified solutions including daily wellness, men’s health, weight loss, digestion, diabetes, skincare, blood pressure, strength, destress and memory boosting, artho care, kidney stone, and more. In addition, Kapiva never fails to innovate its products to bring this traditional ayurvedic wisdom to consumers in modern, easy-to-use formats, along with delivering them with good nutritional value.
Kapiva Ayurveda
Kapiva: Founders
Kapiva is founded by Ameve Sharma and Shrey Badhani.
Kapiva Founders | Shrey Badhani and Ameve Sharma (L-R)
They joined hands in January 2016 to build the world of modern Ayurvedic brand, Kapiva.
Ameve Sharma grew up in Kolkata and belongs to the family, which founded the famous Baidyanath Group. His grandfather was the founder of Baidyanath and his father still stands as the current Managing Director of the ayurvedic pharmaceutical company. Ameve is the Chairman of the Western region at the Indian Chamber of Commerce and the President of the Baidyanath Group. He has also worked as a Consultant with McKinsey & Company after completing his MBA. He completed his Bachelors in Economics from New York University and went ahead to pursue MBA from INSEAD.
Shrey Badhani is an adept and experienced sales and marketing professional. He has been instrumental in driving growth and implementing strategic management at Kapiva. Shrey looks after the e-commerce platform, offline sales, marketing and operations for Kapiva. He started his career in Consulting with Bain & Co and Parthenon. Most recently, he worked as a PE investor with Bain Capital in their India office. Shrey pursued Bachelors in Economics and History from St. Xavier’s College, Mumbai and Masters in Economics from the University of Cambridge.
Kapiva has a talented team that bring a varied sense of experience to the table. From reputed business school graduates and experienced senior professionals to college freshers and hardworking amateurs, employees at Kapiva come from various walks of life and add value to the overall success of the company. This eclectic bunch brings the much-needed diversity in perception, having a positive impact on major business decisions.
Kapiva Apprenticeship Programme, where the seniors and experienced staff mentor juniors and help them gain valuable business insights. This has helped the employees gain a cohesive professional experience at a very young age.
Ayurveda has always been at the heart of the Indian tradition. However, somewhere along the way the true essence of it had been lost. People approached Ayurveda with a curative lens but it is in fact, a way of life! It relies on the principle of ‘food is medicine’ and ‘you are what you eat’. Western countries have begun understanding the true value of ayurvedic sciences and the industry is booming rapidly overseas. With the advent of turmeric lattes, moringa cereals, and more, other countries seem to appreciate our traditions more than we do!
One of the major reasons why Ayurveda does not fare well in India is due to the lack of awareness about its benefits and values among the millennial population. Considering that India has one of the largest Gen Y population of the world, we are actually not catering to almost 34% of the total Indian population. To combat this, Kapiva has anchored on creating this awareness among the millennials and securing a modern ayurvedic nutrition stance to educate that section of consumers.
All products of Kapiva are created keeping the busy and on-the-go lifestyle of modern-day Indians, who seek to maintain an upkeep of their health in easy to use and convenient options without having to compromise on taste.
For instance, Kapiva Gummies are designed for on-the-go nutrition with the power of Ayurvedic herbs in a yummy-gummy format, which is convenient as well as a joy to consume!
Kapiva’s logo is interestingly designed in black and white where the starting letter of the brand, “K” stands in an enlarged version with the brand name “Kapiva” written inside it.
Kapiva | Name, Logo and Tagline
Kapiva rests on a core philosophy, “Your simple guide to everyday Ayurveda”. The name Kapiva is derived from the three doshas in the Ayurvedic universe – Kapha, Pitta, Vata, which when balanced in a body, bring overall wellness.
The founders believed in this balanced approach to health using Ayurveda, and the company is well poised to achieve its growth objective as consumers begin to adopt this philosophy by proactively seeking better nutrition. In addition to core Ayurveda, the various product innovations add further value to consumers, making Kapiva a preferred brand for modern wellness.
Kapiva: Vision and Mission
Kapiva’s mission is to provide a new-age Ayurveda for the new-age customers. Furthermore, the company wants to free Ayurveda of its complexities and enable millenials to make it a part of their everyday life, live a holistic lifestyle.
Kapiva’s vision is to not only provide Ayurveda-based nutrition products, but also bring balance into the lives of the customers through these products.
Kapiva: Products and Services
Kapiva stands for modern ayurvedic nutrition. They have been able to disrupt the traditional ayurvedic industry, by presenting the benefits of Ayurveda to the modern lives of the Indians in easily accessible and convenient forms. With the backing of an Ayurveda-inspired innovation, Kapiva has access to the best suppliers of natural ingredients in the country and has built a very strong sourcing story for all its natural products. In addition, the founders’ exposure to various markets during their earlier experiences, has helped them understand the modern consumer’s needs very well.
Kapiva is designed for a fast-paced 21st-century lifestyle, especially where the lack of the right nutrition and inadequate immunity can pose serious health risks. The company has created a new category of modern ayurvedic nutrition, which never existed before, addressing the core consumer needs of health and taste.
For example, Kapiva Wild Amla Juice is made from ripe, yellow Amlas as they are more nutritious compared to the commonly used raw, green amlas. Furthermore, the juices are cold-pressed to retain all their nutritional content. All the products share such unique sourcing stories. The company’s fast growth trajectory is a result of the innovation in product development by bringing better quality, more convenient products to the consumer.
Kapiva invests in R&D and innovates on sourcing better ingredients, convenient product formats, and consumer-friendly packaging, to deliver more value to the consumer. The company has developed a top-of-the-line and robust R&D setup in-house, while working with top food technology experts of the country, such as the former heads of R&D at companies like Britannia and HUL, to build best-in-class products ranges. Kapiva remains focused on innovating on more accessible nutrition, under the realm of Ayurveda. The purity and quality in the sourcing of ingredients have been given center stage.
Kapiva | Product Review
Kapiva: Target Market Size
Ayurveda is a ₹30,000-crore industry in India. As per 2020’s estimates, Kapiva is expected to cross ₹300 crores in revenue by 2025 and capture a significant part of this market. Kapiva’s market largely revolves around the Indian subcontinent, with a wide reach. Indians are believers in the power of Ayurveda and the modern Indian consumer is looking for a more accessible and convenient format of Ayurveda to consume its benefits. Kapiva has witnessed expansion abroad and is currently operating in the US, planning to expand to Canada and the European markets in the coming months.
Today, Kapiva has a portfolio of 50+ products and is present across the top online marketplaces (Amazon, Flipkart, Big Basket, PharmEasy, to name a few) as well as its own website (direct-to-consumer business model). The products are also available in 6000+ General Trade and Modern Trade outlets in the top cities of India.
Kapiva: Growth
Pre-COVID, the ayurvedic market typically witnessed 15-20% growth annually. Contrary to this, in the last quarter, many companies, large and small, witnessed growth between 50-90%. The adoption of Ayurveda as holistic, natural healthcare will have a positive impact on the market. Not just in India, the developing economic conditions of various nations are elevating the demand for Ayurvedic products globally. Ayurveda was considered a pharmaceutical approach earlier and was only used as a solution to specific problems. However, Ayurveda is actually about proactive, holistic health, and consumers are embracing it as such, now.
People around the world today, are focusing more on herbal products and leveraging herbal remedies to enhance their mental and physical health and wellbeing. The global Ayurvedic market was valued at Rs 300 billion in 2018 and is estimated to reach Rs 710.87 billion by 2024, as per Global Newswire. All of these are directly helping Kapiva to scale greater heights.
The company has grown to be a Rs 50 crore brand in just 3 years. Yes, Kapiva has witnessed a growth of Rs 0 – Rs 50 crore in revenue in less than 3 years. Some other growth highlights of Kapiva are as follows:
Kapiva currently boasts of having over 6,000 general trade outlets across 12 Indian cities and has been looking to expand it to 10,000+ outlets.
It has witnessed around 10x growth in the span of the last 30 months
It has launched 50+ products in 5 categories in 2020.
Kapiva: Business and Revenue Model
Kapiva follows a D2C strategy of business to deliver a true omni-channel experience of FMCG sales. The consumers of Kapiva’s products are typically in their mid-20’s to late 40’s, residing in Metros, Tier 1, and Tier 2 cities.
Kapiva has enjoyed a natural product-market fit, especially leading in certain categories such as Herbal Juices. The current strategy is to expand the footprint across channels, especially through marketing and new product development, both of which are being undertaken with a keen eye on consumer preferences. Customer focus determines the way forward for Kapiva.
Having its genesis as an offline brand, Kapiva had already enjoyed quite a success in the offline markets, which helped the company earn a turnover of about Rs. 3 crore a month in the first eighteen months or so. The company started focusing on online distribution from 2019 onwards. Therefore, it is the offline success that helped the company rapidly scale the online markets.
Today, along with its own D2C platform, Kapiva retails on all the prominent online marketplaces, from Amazon and Flipkart to Big Basket and Nykaa.
A major chunk of the company’s revenues comes from its digital channels. Furthermore, the products of Kapiva are also available across General Trade and Modern Trade outlets in the top cities of India, which also helps the company earn a considerable amount of revenue.
The company began by making its mark on online marketplaces such as Amazon. The herbal juices category was underrepresented on these platforms then, but the need was definitely present, as was the natural product-market fit. Kapiva capitalized on it and thus acquired the first batch of loyal users.
Kapiva: Customers/ Clients
Kapiva focuses very heavily on the right product positioning within a category, by taking great efforts to carve out compelling differentiators of the product before its launch. In addition, their strong go-to-market strategy helps with accelerated results as soon as they enter a category. However, above all, the company believes that it is the quality of their products which customers appreciate and call out the most, leading to better retention and word-of-mouth marketing.
Though the popularity of Baidyanath, which runs through the veins of Kapiva, helped the brand initially but standing as an Ayurvedic brand in a country dominated by allopathy is itself a laudable feat.
Kapiva initially started off as a chain of Ayurvedic clinics, through which high-quality products were sold as well. Pivoting from that clinic/retail model to the current FMCG model was also a challenge.
Fireside Ventures, Mohandas Pai Family Office, Marico Family Office (Sharrp Ventures)
April 2020
Series A1
INR 13.5 Crores
Jetty Ventures, Fireside Ventures, Marico Family Office (Sharrp Ventures)
Kapiva: Advisors and Mentors
Kapiva enjoys the mentorship of various experienced investors. The Baidyanath connection forms a valuable advisory channel as well.
Kapiva: Competitors
Kapiva competed with Patanjali, Dabur, Himalaya.
Kapiva: Recognition and Achievements
Kapiva has been awarded The Economic Times Emerging Consumer Brandof the Year 2020. Apart from that, the co-founders of Kapiva, Ameve Sharma and Shrey Badhani have been awarded Emerging Entrepreneurs of Year Awards in the Product or Manufacturing- Healthcare category.
Kapiva has grown from 0 to 50 crores in less than 3 years. It has scaled rapidly with over 3x increase in monthly revenue from March 2019 to March 2020. The company is expected to close FY21 with revenue run-rate of Rs 70 Crores per annum. Given the strong growth trajectory, Kapiva is all set for profitability within the next 2 years. Since launch, Kapiva has served more than a million consumers and is seeing good traction in, both, Indian and international markets.
The future plans for Kapiva are as follows:
1) Innovation through new product development. Kapiva’s range of immunity products is expected to expand soon, followed by products such as ayurvedic breakfast and ayurvedic effervescent drinks, which will cater to customers’ taste preferences, while being healthy.
2) Expanding the distribution network offline and scaling up the direct-to-consumer channel. Kapiva is currently present in 6,000+ general trade outlets across 12 cities. This is set to expand 10,000+ outlets and cover more cities by the end of this financial year. The direct-to-consumer channel has had a great growth story too – it grew about 20x in revenue in less than a year. It is expected that this strategic channel will grow another 5x this year.
3) Building their brand communication to share their story of modern ayurvedic nutrition. They are focussing on digital channels at the moment, since their customer base is largely present here.
Numerous technological innovations and advancement has made the world a smaller place. Irrespective of type of business, online services is booming. The demand of online service has taken over the healthcare industry as well. Online doctor consultation is rising popularity and growing with high speed after Covid Pandemic. There has been 500% increase in online doctor consultations in India in 2020.
Practo is one of those online doctor consultation platform which has revolutionized the healthcare industry. Practo enables consumers to find the best doctors, book appointments, and consultations for better health care decisons and treatment. The bangalore based healthcare platforms has gained tremendous popularity. Here are insights of Practo’s Business model, its revenue model, and more to know about Practo.
Practo is an Indian based company that is now established in about 15 countries. It is an application that works as a bridge between doctors and patients and is mainly focused on booking interactions with doctors. It was founded by 2 Indian B.Tech students, Shashank ND and Abhinav Lal. They aimed to come up with a way to save or keep reports and other medical prescriptions. Their idea was then put into action and they came up with an online platform where the patients can interact with the best online doctors, book appointments and so on.
Services Provided by Practo
Their major value proposition for patients was to make online healthcare search easier. The application must be able to help patients look for various medical help like doctors, hospitals, clinics, laboratories, check-up and scan bookings and so on. This must be done through the app or website and without any issue. They should be able to get a virtual doctor on demand.
The next plan was Practo Plus, which is a subscription-based membership. This is to provide perfect 24/7 care.
Practo not just helps book appointments but also consult a doctor online. This is a cost and time-saving attribute in the app. In this case, the communication can be through audio call, video call and also image sharing through the app. This can help the doctors diagnose and give necessary medical advice.
Just like Google drive helps us save details and records for future use, Practo drive helps patients store the necessary medical records like test results, prescriptions, schedules, etc. This is highly secure and safe.
Business Model of Practo
Practo Logo
The first thing that a business has to do is to figure out the major activities and value propositions and make a perfect, working business model. Practo, being a common platform for patients and doctors, they had to make sure there was proper value provided to both sides.
Why Should Doctors Use Practo?
Practo competitors
Practo helps the doctors get more patients and grow their practice online. They can hence maintain a better relationship with the patients and also chat with them whenever necessary. A prescription can also be uploaded through the app. Follow-ups and other notifications can also be given by the doctors to the patients. They can also publish health-related articles and tips. Practo makes the entire system easier and efficient.
Practo provides a complete tool for clinic management for doctors which helps in generating invoices, reminders, storage of bills and prescriptions, etc. On the whole, the online visibility of the clinic and the doctor grows with the use of Practo.
Practo’s Customer Segments
Practo has segmented their customers into 3. Which are:
Practo’s customer segment
Key resources for Practo
The major resources that they use are the website, the app, their staffs and manpower and Information technology.
Their major activities are:
Marketing and advertising, through which they promote their product and services. With the growing use of social media, they use those platforms to promote Practo.
This, being a technology-based app, their another major activity is to develop an easy to use software.
They also had to bring in and enhance the network between patients, doctors, labs, clinics and so on.
They also have the perfect customer relationship management strategies. They provide 24/7 customer service through mails, chat and also phone calls and their automated services, like notification system and SMS services have helped them maintain customer relationships.
Any company thinks of how to increase revenues and hence generate more profits. Practo also has its way to make huge revenue. We know that Practo has a few products and services and using this they generate the revenue.
They initially started by taking a certain percentage of money for every booking that takes place. As they expanded, they found more opportunities to get better revenues.
Practo charges the doctors and hospitals some money for getting listed in the app or the website. This also gives them some revenue. They are now expanding their domain and are now connecting bigger hospitals, labs and pharmacies and take commissions from all these. This is their basic revenue model. Over this, there are a few other ways by which they generate revenue.
Acquisitions of Practo
They get revenues through their acquisitions. Practo has acquired 4 companies.
QikWell: It is an online appointment booking software
Over the years, Practo has helped doctors reach a lot of patients and also helped them practice medicine.
Just like there are search results on search engines, Practo has a search result. Doctors need to get on top of the list to be able to do more online consultations and hence earn more. Practo Profile sells premium listing and for this, the doctors have to pay some money. This is a part of their revenue.
The next way of generating revenue is through Practo reach wherein, Practo provides ad spaces on their website and app. It is available in various sizes and the payment depends on various factors. Displaying ads on their website also gives them good revenue as we know that Practo has a lot of users.
There is another division in Practo which is called as Practo Ray. This helps the doctors Manage the hospital or clinic. It is a PMS (Practice Management Software) for the doctors. For doctors to use this, they need to pay a fee, monthly. This is the largest source of revenue for Practo.
Next comes Practo Plus. It is a subscription-based yearly healthcare plan for patients. It offers unlimited online doctor consultation and Practo gets some revenue from this too.
Practo earns from medical deliveries too. Now that they have tie-ups with labs and pharmacies, they get some commission for bookings and also from delivering medicines to the patients. They also make the sale of medicines to drug stores and chemists.
The main reason for Practo to be able to attract the customers is because they can cover the right audience. They know that there is no big point in covering famous doctors as they would have already established themselves and would not pay much for Practo and so, they started by approaching new doctors and clinics who will need to get patients. Also, there are not many competitors in the field as Practo has already attracted most doctors and patients and it is well established.
FAQs
What is the revenue of Practo?
Practo has recorded a revenue of Rs 124.3 crore for the financial year ended March 31, 2019.
How does Practo work?
Practo offers a secure and encrypted platform for patients to connect with doctors online to interact at their own convenience.
What is the valuation of Practo?
Practo valuation stands at $904 Million (April, 2021).
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by 3Hcare.
Diagnostics tests are done to find if a person has a certain disease. An accurate diagnostic test is important to avoid trial and error in treatment. 3Hcare, a Delhi-based healthcare startup is here to ensure that your diagnostics are done safely and conveniently. It provides different health packages, 3Hcare ThyrocareAarogyam being the most popular one. Read this article to know more about a healthcare startup in India, 3Hcare and its success story.
3Hcare is a Delhi-based startup operating in the healthcare sector. 3Hcare is an online marketplace for healthcare services. It provides detailed information on healthcare services provided by PAN India. A user can simply log on to 3Hcare’s website and find nearby diagnostics and hospitals as per their requirements.
Our mission is to assist in getting quality health services and facilities for the community, to promote wellness, to relieve suffering and to restore health as swiftly, safely and humanely as it can be done, consistent with the best service we can give at the highest value for all concerned. – Ruchi Gupta (Founder of 3Hcare)
According to the Indian Diagnostic Services Market Outlook 2020, the diagnostic services market will be growing at 27.5% for the next 5 years. The market has reached INR 860 Billion in revenues by the end of 2020. Some of the major causes for this fast-growth are increasing health consciousness, an increase in the number of people having insurance cover, improving healthcare services, etc. Covid-19 is also one of the major reasons for the borne of the healthcare industry. The Novel Coronavirus has not only hit the nations mentally but also economically, especially the healthcare industry.
The healthcare market is expected to reach $372 billion by 2022.
CA (Dr.) Ruchi Gupta, Dr. Ravinder Pal Singh Malhotra and Dr. Gurdeep Singh Ratra are the founders of 3Hcare.
3Hcare’s Founders
Ruchi Gupta is a doctorate in Risk Management and a fellow member of The Institute of Chartered Accountants of India. She pursued her MBA from GGSIP University and Bachelor’s degree in Commerce from SRCC, University of Delhi. She is a prolific educationist, qualified UGC NET-JRF having a decade-long experience in mentoring management students for the corporate world in the field of applied Finance & Business Management. She also has extensive experience in reviewing and writing subject-specific books in finance & management. Her numerous papers have been published & presented in renowned journals and conferences. She is a member of the panel of authors in the Central Board Of Secondary Education (CBSE).
Exclusive Interview of 3Hcare’s Founder Dr. Ruchi Gupta
Dr. Ravinder Pal Singh Malhotra is an MBBS, MS (General Surgery, MAMC, Delhi) and M.Ch. (GI & HPB Surgery and Advanced Laparoscopic Surgery, GB Pant Hospital, Delhi). He did his fellowship in Liver & Multi Visceral Transplant at Sir Ganga Ram Hospital, New Delhi. He worked as an online CME Observer at John Hopkins Hospital, USA and Chairperson in Harvard Accredited CME’s for GI Surgery. He has around 13 years of experience in Liver Transplant, HPB & GI surgery in India with exceptional donor and recipient surgery safety records. Ravinder has been a part of more than 700 live-donor-related liver transplants, 500 pancreatic surgeries, 2000 liver surgeries, 500 gall bladder cancer resections and has vast experience in other GI surgeries.
Dr. Gurdeep Singh Ratra is an MBBS, M.S. (Orthopaedics) and M.Ch. (Orthopaedics). He did his fellowship in Joint Replacement (Endoklinik, Germany) and Joint Replacement and Sports Medicine (AKH Hospital, Vienna, Austria). Dr. Gurdeep has clinical experience of more than 13 years in the field of Orthopaedics. He has a special interest in joint replacement and deformity correction. He is passionate about the Ilizarov technique and limb-lengthening procedures.
The other core members of the team are–
Mr. Ankush Mehra, who is the director of 3Hcare. Ankush is a Post Graduate in Commerce and MBA. Ankush is a prolific supply chain specialist and a startup man with 22 years of experience, known for creating and managing highly responsive yet cost-effective and efficient solutions. He worked with corporates like Honda Siel Cars India Pvt. Ltd., Samsung Electronics India Information & Telecommunications Ltd., Metro Cash & Carry, Reliance Hypermarkets & LimeRoad.
Mr. Sumit Gupta is an IT manager at 3Hcare. He did his MCA from Guru Gobind Singh Indraprastha University. He is an expert at C#.net and VB.net languages, with extensive experience in working on databases like SQL SERVER, MYSQL, ORACLE. His functional domain encompasses operating systems like Windows 8, Windows 7 and Windows Server 2012. He is proficient in scripting using HTML, ASP.net, Javascript, and Jquery. He has over 8 years of experience with a number of projects for Indian as well as international clients.
The founders decided to divide the team into three departments – one to focus on the medical field, one on the marketing and the other in the technicaldomain. Initially, the startup was functional with only 10 members including founders. But with the growing response from the public, the team had managed to expand over 50 members within less than 6 months.
Ruchi had never planned to become an entrepreneur. She pursued her MBA along with CA and is also a Ph.D. scholar. Inherited the interest in teaching from her parents, she also wanted to become a lecturer. In pursuit of her dreams, she became a mentor to management students and worked as a lecturer in a college in Delhi for many years.
She noticed many complications that the common public faces while getting a diagnosis in hospitals and other test centers, one incident that especially left her wanting to make a difference was the difficulty faced by a relative in finding a good hospital and diagnostic services during the time of emergency.
Ruchi’s relative was suffering from dengue and needed immediate admission, wherein the hospitals denied admitting him due to overcrowded. She was not in a position to wander around to different hospitals in search of bed availability. But giving reference to a known doctor, the patient was immediately admitted. The problems did not end, soon the admin staff asked her to get the patient tested for platelets, due to lack of facilities during that time. This was another challenge for her to track and locate a diagnostic lab that can provide the test results immediately for further treatment. In the end, only her reference helped the patient with regular tests and treatment. This incident came as a wake-up call for Ruchi and the idea of starting 3Hcare was formed.
However, to practically execute the idea, she still had many hurdles to cross. She wanted to create an online portal by tying up with various labs to make all the tests available to the patients with ease and transparency. To develop a team, she actually shared the idea with more than 300 people and at last, found 4 reliable sources who were convinced with her idea – Dr. Gurdeep Singh Ratra, Mr. Ankush Mehra, Mr. Sumit Gupta and Dr. Ravinder Pal Singh. And finally, with the initiative of the co-founders, 3Hcare was started in September 2016.
3Hcare – Name and Logo
The 3H stands for – Help, Health, and Happiness.
Our aim is to help the common masses to bridge the gap between healthcare services and patients .
3Hcare Logo
3Hcare – What is 3Hcare?
3Hcare is an online marketplace for health services. They provide several featured tests and packages. 3Hcare Thyrocare Aarogyam provides Aarogyam profile packages and preventive health checkup packages. The services currently provided by the company are –
Diagnostics – With over 1500 labs and 350 test centers (NABL accredited) to choose from over 50+ locations throughout India, this vertical provides ease for every patient to search, compare & book online lab tests with the value addition at discounted rates.
Plan My Surgery – One of the essential innovations rendered by the online portal includes Plan My Surgery vertical. An innovation by which the patient can plan their surgeries with the best surgeons at the viable cost & schedule. Moreover, a price comparison is available and the patient is also able to seek time availability and appointment with the best in class doctors and hospitals.
Option to choose among the best labs in the patients’ preferred locations.
Price transparency.
Attractive discounts and offers on services.
Under Plan My Surgery, 3Hcare makes all information available such as expenses required for surgery, doctors available and the accreditation of the hospital. All this information is available online, which makes it easier for patients to make informed decisions.
3Hcare – Revenue Model
3Hcare’s revenue model is simple. As its services are free for the patients, it charges only support fees from centers and hospitals.
3Hcare – Funding and Investors
3Hcare has raised a total of $1.1 Million in 2 rounds of funding. Its funding details are as follows:
Funding Date
Funding Stage
Funding Amount
Investors
September 2017
Angel round
$100K
Angel Investors
August 2018
Venture round
$1 Million
–
3Hcare received an angel fundingof $100K, just within 11 months of its inception. The funds were used to develop the IT infrastructure and enhance the other verticals. Recently 3Hcare also raised a second round of funding of $1 million.
3Hcare – User Acquisition
For 3Hcare, the main focus was to provide the best of services to the public. Word of mouth publicity is something that the healthcare startup focused on acquiring new users. Price transparency and discounted prices/offers have also attracted new customers.
Further, to add to the CSR activities, and spread awareness about the importance of timely diagnosis, the team organizes regular free health checkup camps at various locations like rural areas, slums and villages across India.
The main focus was to deliver the best services to the public. If the services are provided with the best class quality, the word of mouth power by the patients/persons seeking the services are the best reference publicity.
3Hcare – Startup Challenges
In the initial months when the website was under construction, it was a huge challenge for the 3Hcare team to convince tying up with diagnostic centers. Still, they managed to bring around 180 centers. Today the portal is ready with over 1000 test centers (PAN India) to choose from with further verticals yet to be added.
According to Ruchi, apart from developing a reliable team, the other major challenge was to self-check for quality labs before getting associated with them. The task was tedious to completely check each and every lab initially for quality, report accuracy and accreditation.
While the further expansion of 3Hcare’s other vertical – Plan My Surgery, rendering comparative quotes, providing real-time data of bed and doctors availability was initially a challenge.
With the progression of data management in our cloud, synchronization helped to overcome the herculean task. Our main aim was to develop the IT infrastructure and strengthen it with the application of artificial intelligence and machine learning.
3Hcare has established itself as a trusted name among its niche customer base. In terms of patients, booking tests through 3hcare.in have increased 10 folds in the past 2-3 months, and the same is the case with revenue.
3Hcare currently has 400+ diagnostic partners and 40+ hospital partners.
The company’s future plans are-
Launch Diagnostic Centre vertical of 3Hcare with the initiation of website functional throughout the world (with an aim to boost medical tourism in the upcoming years).
Launch all verticals along with Mobile applications on a PAN India basis.
International Tie-ups for the second opinion.
Opening of Branches and regional offices.
Covering PAN India and start of Medical Tourism Services.
Adding new Healthcare and wellness verticals like Yoga, Homeopathy, Ayurvedic and fitness centers.
Starting “Manage My Health” vertical.
To open offline labs throughout the tier 3 and tier 4 cities in India to encourage patients to get timely tests.
Become the Leading Marketplace in India’s Healthcare sector by 2022.
Our team has already commenced the opening of offline labs by the name of ‘3Hcare Labs’ in the rural areas. Presently, we have targeted to cover the western UP and Eastern Haryana belt where most backward villages are still devoid of diagnostic centers (that has only sample collection centers, report generation takes 2-3 days there).
3Hcare – FAQs
Does 3Hcare provide Healthcare services?
No, 3Hcare provides details about healthcare services available pan India along with the specialization they have. Users need to register and choose as per their needs.
How much is the registration fee to use 3Hcare?
3Hcare registration fee is free. After registration, customers can avail themselves of the benefits provided by 3Hcare.
How is 3Hcare review?
3Hcare has average to good ratings. It is quite safe to trust and use 3Hcare.
Who is the 3Hcare founder?
CA (Dr.) Ruchi Gupta, Dr. Ravinder Pal Singh Malhotra & Dr. Gurdeep Singh Ratra are the three founders of 3Hcare.
How much is 3Hcare funding?
3Hcare has around $1.1 Million of funding.
Who are the competitors of 3Hcare?
DocPrime, Zoylo, Renew Health and Spreemo are the top competitors of 3Hcare.
Company Profile is an initiative by StartupTalky to publish verifiedinformation ondifferent startups and organizations. The content in this post has been approved by ElaWoman.
Infertility is a topic people don’t talk about openly. It is the inability to conceive children even after frequent, unprotected sexual intercourse over a year or more. It’s a condition that impacts couples both physically and emotionally, often ruining relationships.
Victims of infertility are more often than not left disheartened by bogus advertisements and claims that guarantee a sure-to-work solution for this medical condition. In the end, they don’t get the desired results and regret spending so much for nothing.
ElaWoman is a visionary healthcare startup making a significant difference in the lives of those affected by infertility. ElaWoman provides customized plans and treatments to solve this problem through the use of latest technology and data analytics. The transparency in treatment is what differentiates ElaWoman from others. Moreover, safe and easy financial options ensures couples with financial difficulties are not left out out.
Elawoman helps couples who are struggling to realize the happiness of parenthood. Treated as a taboo, topics such as infertility are not discussed openly on healthcare platforms. This leaves no choice for patients but to blindly believe marketing gimmicks of a non-transparent ecosystem setup by some doctors and clinics in the medical industry. This is why out of 10% of couples (of child-bearing age) facing fertility issues, only 1% go for treatment.
ElaWoman was born as a one-stop solution portal to counter the increasing occurrence of fertility problems worldwide and the increase awareness about the same. The entire team makes it a point to bring the best quality infertility treatments to couples at affordable prices.
ElaWoman – Target Market
The infertility treatment/diagnosis segment is expected to grow steadily in the coming decade. According to a top research firm in India, this industry is set to grow at 13% CAGR in the year 2020. The rapid advancements in the field of infertility medicines is can be attributed to increasing child-bearing age, growing usage of contraceptives, and altered lifestyles.
The field of infertility medicine comprises fertility drugs, infertility-related surgeries, and Assisted Reproductive Treatments (ARTs). Latest developments include Frozen Embryo Transfer (FET), Preimplantation Genetic Diagnosis and Screening (PGD/PGS), and Anti-Mullerian Hormone (AMH) tests to name a few. Array Comparative Genetic Hybridization (CGH) was recently introduced to increase the success rates of infertility treatments. A huge potential exists in this field which needs to be exploited and utilized for the welfare of couples across the globe.
How was ElaWoman Started?
The Elawoman founders came across several cases that revealed couples struggling to find a good infertility clinic or doctor for treatment. They also realized the stigma and taboo surrounding infertility issues; affected couples are afraid to discuss their issue in front of family members and friends.
ElaWoman solves the problem by bringing in transparency and independent facilitation through data analytics and other technological mediums. It offers a system that provides unbiased transparent information on doctor and centre data, treatment pricing, clinical success rates, and past patient reviews.
Couples get the benefit of having a personal health assistant to help them in each step of conceiving. The service is an end-to-end platform providing access to different features and plans.
Furthermore, ElaWoman provides information on over 5,000 fertility hospitals and doctors for IVF, IUI, ICSI, surrogacy treatments, and pregnancy care services. The fertility centres and doctors partnered with ElaWoman are encouraged to provide a transparent, upfront, and affordable pricing structure for infertility procedures. Patients are provided with customized treatment packages for result-oriented execution of the chosen infertility treatments. The customization is done based on the treatment cost, patient appointment, and the clinic/centre chosen. Ela specialists assist patients in the personalization of infertility treatment packages.
ElaWoman – Founders And Team
ElaWoman was founded by Ritu Singh, Yogesh Agarwal, and Aditya Kandoi.
Elawoman founders Ritu Singh, Yogesh Agarwal, and Aditya Kandoi (L to R)
Ritu Singh : Born in 1988, Ritu did her schooling from St. Thomas School and then pursued a B.Tech from Netaji Subhas Institute of Technology in 2005. She then did an MBA in Marketing from IIM, Udaipur. Ritu Singh is the CEO of ElaWoman.
Yogesh Agarwal : Yogesh was born in 1986 and completed his schooling from Birla High school. He obtained a Bachelor’s in Electrical Engineering from IIT, Varansi in 2005. Post graduation, he joined Lancaster University for an MBA. Yogesh is the Chief Technology Officer (CTO) of ElaWoman.
Aditya Kandoi : Aditya Kandi was born in 1989 and is an IIT Varanasi alumnus. He later did his MBA from Warsaw School of Economics. Aditya is currently working as the Chief Operating Officer (COO) of ElaWoman.
ElaWoman – Name, Logo, And Tagline
Logo of ElaWoman
ElaWoman was chosen as the brand name since Ela stands for a beautiful person surrounded by several friends and their loved ones. The company logo consists of a butterfly that demarcates freedom; the freedom ElaWoman gives couples in the form of parenthood.
ElaWoman – User Acquisition
We were on cloud nine when we met the achievement of the first 100 customers. Initially, it felt like a challenge as our concept is a new one. But then we came out with a combination of ways to reach the audience and have 100 successful customers – Ritu Singh, CEO of ElaWoman
The ElaWoman team leveraged the power of social media and user-oriented information through website’s blog section. This was combined with the reach of advertisements to target the desired audience.
Initially, it was difficult to attract customers/couples towards the concept of infertility treatment but the quality and usefulness of ElaWoman’s services made this possible. Testimonials of patients who had infertility treatments at the top centers and hospitals along with impressive success rates helped several couples contact Elawoman and trust its services.
Reaching the first 100 customers and helping them have successful infertility treatments was a remarkable experience for ElaWoman and a milestone.
ElaWoman has evolved into a healthcare platform dealing with infertility medicine, treatments, and surgeries. The innovative ElaPay facility, the first payment mode in the field of medicine, has also made it easy for patients to take a step forward. Ela’s medical loans have made the financial aspect of the treatment more hassle-free than expected. Patients also receive guidance on travel and accommodation as part of their infertility treatments.
ElaWoman – Startup Challenges
One of the biggest challenges which we faced during our initial days was mainly to convince couples to consult an infertility specialist about their infertility issues. Also, we had difficulty in making patients understand our unique brand concept – Ritu Singh, CEO of ElaWoman.
The team eventually cracked it through timely counselling and discussions with several couples in collaboration with medical specialists and psychologists; distinguished medical professionals known for successfully dealing with some of the most complicated medical cases.
Chiratae Ventures with co-investor Alkemi Venture Partners
ElaWoman – Future Plans
ElaWoman has achieved several milestones in the domain of infertility medicine since its launch. ElaWoman today has a network of more than 11,500+ doctors and clinics. Ela has its footprints in over 89 cities and 11 countries. Features such as ElaPay and Ela medical loans have made the treatment for patients a smooth sail. The company’s future looks promising with expansion plans.
ElaWoman – FAQs
What is ElaWoman?
ElaWoman is a visionary healthcare startup making a significant difference in the lives of those affected by infertility.
Muskaan Kapoor
