Tag: Healthcare startup

Tata 1mg Startup Story: An Online Drug Delivery Platform

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

An online pharmacy internet pharmacy, or mail-order pharmacy is a pharmacy that operates over the Internet and sends orders to customers through mail, shipping companies, or online pharmacy web portals. 1mg is a digital consumer healthcare platform, or an online pharmacy center, that makes healthcare accessible, understandable, and affordable.

1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. It allows users to find information about medicines prescribed by doctors and also buy it online. Users can find medicines by ailments, class, companies, and brands.

Let’s go through Tata 1mg’s Startup Story and get a glance at Tata 1mg funding, business model, company profile, turnover, growth, revenue model, founders & more.

1mg – Company Highlights

Startup Name	Tata 1mg
Headquarters	Gurugram, Haryana, India
Industry	Healthcare
Founded	2013
Founders	Prashant Tandon, Gaurav Agarwal, Vikas Chauhan
CEO	Prashant Tandon
Area Served	India
Website	www.1mg.com

About Tata 1mg and How it Works?
Tata 1mg – Logo and its Meaning
Tata 1mg – Founder and History
Tata 1mg – Mission
Tata 1mg – Business Model
Tata 1mg – Revenue and Growth
Tata 1mg – Funding and Investors
Tata 1mg – Acquisitions
Tata 1mg – Competitors
Tata 1mg – Awards and Recognitions
Tata 1mg – Challenges Faced
Tata 1mg – Future Plans

Tata 1mg – About and How it Works?

Tata 1mg is a developer of an online drug delivery platform intended to make healthcare accessible, understandable, and affordable.

The company delivers medicines and health products online along with lab test booking, online consultations, and authentic information from healthcare professionals, thereby enabling customers to meet all their healthcare needs in one platform hassle-free.

1mg.com brings to us, an online platform, which can be assessed for all our health needs. With AI being hailed as the technology of the future, every startup is trying to adapt it in some capacity to streamline and optimize their offerings. Tata 1mg recently started offering a feature, ‘Ask a Doctor,’ which is an intuitive chatbot that asks questions to accurately identify what the problem may be and shows the medicinal specializations under which the ailment may fall. Users can choose from one of them and a doctor, who can diagnose the problem via chat, is assigned to you.

Tata Digital, a subsidiary of Tata Sons Private Ltd. acquired a major stake in 1mg to further widen the former’s digital offerings on June 10, 2021. Though the amount is still not disclosed by the source, the total valuation of 1mg was $400 million.

Tata 1mg had the highest number of downloads (184.2K) among telemedicine startups during Jan 1-Feb 10, 2021, as per AppTweak data. It has invested in expanding its cold chain and in contact with vaccine makers for partnerships to participate in COVID-19 vaccination (when the government allows the private sector to get in)

Tata 1mg – Logo and its Meaning

Tata 1mg is all about medicines and the basic unit for a medicine’s strength is measured in milligrams (mg). And to top it all, 1 MG Road was where the company’s first office was located.

Tata 1mg Logo

Tata 1mg – Founder and History

Gurugram-headquartered e-pharmacy startup Tata 1mg (earlier as HealthKartPlus) was founded by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan in 2013.

Founders of 1mg - Gaurav Agarwal, Vikas Chauhan, and Prashant Tandon — **Tata 1mg Founders – Gaurav Agarwal, Vikas Chauhan, and Prashant Tandon**

The website was started as HealthKartPlus, a platform for users to have all the information about the medicines. The platform became so popular and got a huge response from the public and users asked the company to start the delivery of the medicines too. Thus, Tata 1mg was started.

Tata 1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. The company has three business verticals — Pharmaceuticals, Labs, and Doctors.

Tata 1mg – Mission

The company’s mission is to make healthcare accessible, understandable, and affordable for one billion Indians through a comprehensive website and mobile app. Tata 1mg enables consumers to learn more about their medicines in addition to finding more cost-effective substitutes.

Tata 1mg – Business Model

Tata 1mg provides services like diagnostics, medicine, preventive healthcare, and online Q&A to its users. Apart from this, they also have native ads on their platforms for pharma companies. In the past year, The company has expanded its pharmacies to 600 cities and also expanded its product range to include homeopathy and Ayurveda range.

The company used its app to spread information on medicines. They are using push notifications and emails to expand and let people know that they are living in their city. The company also uses offline advertisements depending on the city. They use newspaper advertisements and health camps to spread information. However, a majority of their marketing is digital.

Tata 1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.

Tata 1mg – Revenue and Growth

Tata 1mg Financials	2023	2024
Operating Revenue	INR 1627 crore	INR 1968 crore
Total Expenses	INR 2894 crore	INR 2303 crore
Profit/Loss	INR -1255 crore	INR -313 crore

In FY24, Tata 1mg’s operating revenue increased by approximately 21%, rising from INR 1627 crore in FY23 to INR 1968 crore. Total expenses decreased by about 20%, dropping from INR 2894 crore to INR 2303 crore. As a result, losses reduced significantly by nearly 75%, improving from INR 1255 crore to INR 313 crore.

EBITDA

	FY23	FY24
EBITDA Margin	-71.66%	-10.85%
Expense/₹ of Op Revenue	₹1.78	₹1.17
ROCE	-341.99	NA

Tata 1mg saw strong and steady growth in FY23 without spending too much cash. FY23 was also its first full year under Tata Digital.

1mg’s operating revenue jumped 2.5 times to INR 1,627 crore in FY23, up from INR 627 crore in FY22, as per its financial reports. Earlier, in FY22, the company had nearly doubled its revenue from INR 309 crore in FY21.

As per regulatory filings, Tata 1mg’s total revenue was INR 369.3 crore in FY20, which is over a 77% jump from the company’s revenue which stood at INR 209.1 crore in FY19.

Selling medicines online hasn’t been all easy as this space witnessed regulatory challenges back in 2019. While the Delhi High Court had ordered all state governments to ban the online sale of medicines in January last year, the central drug regulator had asked states to enforce a court directive prohibiting online medicine sales this month.

Amidst this regulatory uncertainty, Gurugram-based Tata 1mg has demonstrated decent growth with a 2.8X jump in operating revenue. Registering 180% growth, it has posted a total operating revenue of INR 240.85 crore.

The company collected Rs 39.45 crore from offering marketplace services and INR 68.3 crore through online diagnostics and lab testing services in the year ending March 2019. It also made INR 67.8 lakhs from collection charges.

Importantly, the overall revenue from services grew 90.2% from INR 41.8 crores in FY18 to INR 79.5 crores in FY19. All services together accounted for a little over one-third of the total revenues generated by Tata 1mg during last fiscal in 2019.

Tata 1mg – Funding and Investors

Tata 1mg has raised a total of $230.8 million in funding over 16 rounds. Their latest funding was raised on Sep 6, 2022 from a Corporate Round led by Tata Digital. This funding round made Tata 1mg a unicorn as the company was valued $1.25 and $1.30 billion after raising $40 million in funding. Tata 1mg is funded by 10 lead investors. Tata Digital is the most recent investor.

Tata 1mg funding details are as follows –

Date	Round	Amount	Lead Investors
September 6, 2022	Corporate Round	$40M	Tata Digital
April 19, 2021	Debt Financing	$13.3M	Tata Group
Jul 3, 2020	Debt Financing	$17.8M	–
Jan 31, 2020	Venture Round	$9.48M	Bill & Melinda Gates Foundation
Jun 28, 2019	Series D	$70M	Corisol Holding AG, International Finance Corporation
Apr 5, 2019	Series D	$10.3M	Redwood Global Healthcare Fund
Jan 1, 2019	Venture Round	–	InnoVen Capital
Mar 1, 2018	Series C	$10.1M	Maverick Ventures
Jul 26, 2017	Series C	$15M	HBM Healthcare Investments AG
Jul 1, 2017	Series C	$12.2M	–
Jun 30, 2017	Venture Round	$10M	HBM Healthcare Investments AG, Sequoia Capital India
May 31, 2016	Venture Round	–	HBM Healthcare Investments AG
April, 2021	Debt Financing	$13.35M	Tata Digital

Tata 1mg – Acquisitions

Tata 1mg has acquired 3 organizations. Their most recent acquisition was Dawailelo on Sep 1, 2017.

Acquiree Name	Date	Amount	About Acquiree
Dawailelo	Sep 1, 2017	–	Dawailelo is a Varanasi-based healthcare startup that helps people connect with medical stores
MediAngels	Dec 14, 2016	–	MediAngels delivers healthcare globally
Medd.in	July 5, 2016	–	Medd.in is an online platform to book diagnostic and imaging tests

Tata 1mg – Competitors

Tata 1mg’s top competitors are Netmeds, Practo, Medlife, PharmEasy, Metarain Distributors Private Limited, HealthKart, CareOnGo, mChemist and BookMEDS.

Tata 1mg – Awards and Recognitions

In 2014, just a year after they started off, Tata 1mg won the m-billionth award for m-health in South Asia. They were also recognized as the most promising healthcare startup by News Corp VCCircle. In 2016, Tata 1mg was acknowledged as the Best App in the medical category by Gmasa.

They also won the award for the best online pharmacy in India at the International Quality Awards. They achieved the title ‘New Kid on the Block’ at the NDTV Unicorn Awards in the same year.

Tata 1mg was recognized as one of the Top 50 ventures in the Smart CEO-Startup50 India 2017 program. By the year 2017, the company had grown by 600% in terms of the success of the Tata 1mg app and user engagement. They expanded their product range to encompass Ayurvedic medicines and homeopathy.

Within the years 2016 and 2017, the company had raised 37 million dollars through 5 rounds of funding. In 2018, Tata 1mg won the BML Munjal Award for ‘Business Excellence through Learning and Development’. During the Content Leadership Awards in 2018, they won the title ‘Best Content in a Healthcare/Fitness App’. Tata 1mg was also recognized as the ‘Best Mobile Innovation for Health award ‘ at the India Mobile Congress.

Tata 1mg – Challenges Faced

1mg was initially started as HealthKartPlus, a platform that aggregated medical information and sold alternative medicine to its users. The platform caught up quickly with the users and soon the users began asking for delivery of medicines to be included as well. At a time when information and awareness about medicines and lab tests were either minimal or non-existent, 1mg aimed to change it.

Tata 1mg has a system in place where they onboard vendors onto the platform if they meet certain requirements like computerized inventory and invoicing, which makes end-to-end tracking easier for the customer. The startup can generate business even after strict government compliances which banned online pharmacies by making a prescription mandatory to make a purchase.

Tata 1mg – Future Plans

Aggressively moving towards its expansion plans, Tata 1mg has decided to expand the scope of its platform and is entering the alternate medicine space (AYUSH categories) through the acquisition of Homeobuy.com. Homeobuy is a web platform for homeopathy medicines.

With this acquisition, Tata 1mg will re-brand the website to www.1mgAyush.com and make homeopathic & ayurvedic medicines available to customers in New Delhi. The Indian government has also been actively supporting and developing the AYUSH categories, as a strong system of medicine that has evolved over a long period of time.

After Tata Digital’s acquisition of the majority stakes in Tata 1mg, the company announced that they are looking forward to promising 60-minute deliveries in selected locations around the country. Tata 1mg is known for 4-5 hour deliveries in a bunch of locations, which will also be extended to other locations as well.

“We are the platform that stands for consumer health and we believe the alternate forms of medicines are equally important. Having seen the importance of these alternative forms of medicines and our government’s support in promoting them, we aim at creating an exhaustive platform for all health solutions. The business will continue to work on a marketplace network model and partner with quality vendors in this sector,” said Prashant Tandon.

FAQs

What is 1mg?

1mg is a digital consumer healthcare platform that makes healthcare accessible, understandable, and affordable. It allows users to find information about medicines prescribed by doctors and also buy them. Users can find drugs by ailments, class, companies, and brands.

Who is Tata 1mg founder?

Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan are the founders of 1 mg company.

Who is the CEO of 1mg?

Prashant Tandon is the CEO & Co-Founder at 1mg.

How does 1mg make money?

1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.

Is 1mg an Indian company?

Yes, 1mg is India’s leading consumer health platform.

How do you order medication 1mg?

You can send the list of medicines, your full address, contact number, and valid prescription to order@1mg.com.

Does Tata 1mg provides franchise opportunity?

Tata 1mg provides a franchise model, enabling individuals to partner with the brand and open their own 1mg store.

December 24, 2024

Healthcare Startups Helping Workplaces With Employee Well-Being
Sometimes you are left wondering about the aspects that impact your productivity and mental well-being at your workplace. According to recent statistics portrayed by Microsoft study, about 58% of the leaders and 47% of the employees today in India report that they are drained out at work.

So, how do the world’s leading giants discover the right balance between life and work? Employee well-being now encompasses mental health and overall growth, emphasizing flexibility in where, when, and how employees work.

Irrespective of the size of the company having an awareness that employee well-being is the basic building block of a company and a sound and strong policy in order will enhance productivity while aiding the employees to develop the best habits and routines in the longer run.

Today, we will discuss a couple of healthcare startups supporting their employees’ mental well-being through their effective tech-based solutions!

CircleCare
Visit Health
Resonea
The Pip
Promiser
Buffer
NextJump
Wellable
Nova Benefits
eKincare

Top 9 Health And Wellness Companies

Considering these tough times where we live today, taking good care of your health is significant. In the corporate realm, it tends to become the additional responsibility of the employers to ensure the employees’ proper well-being.

With the growing costs of health care, even employees are searching for corporate wellness programs that help fight the battle between health hazards and leading a fitter life. A couple of workplace wellness providers offer emotional, physical, and mental health solutions. The leading ones are enlisted below after thorough research:

CircleCare

Startup Name CircleCare

Year Founded 2016

Founders Mizan Rahman, Michael Trader

CircleCare – Healthcare Startups Helping Workplaces

Several firms offer optional wellness activities for employees to get past their workplace for a while and perform exercises and other workouts to stay fit. The primary notion behind participating is not related to any physical activities but enhancing the productivity and engagement of the employees.

CircleCare is a US-based firm offering a robust platform and the necessary tools to motivate employees to maintain healthier lifestyles through rewards and positive reinforcements. The active participants are challenging one another or even competing in teams facilitating an enhanced level of activities in building a team.

Visit Health

Startup Name Visit Health

Year Founded 2016

Founders Chetan Anand, Vaibhav Singh, Anurag Prasad and Shashvat Tripathi

Visit Health – Healthcare Startups Helping Workplaces

It is a healthcare startup that allows individuals to connect with doctors on the move while traveling at work. It aids the users with answering health-related queries being your healthcare assistant and a telehealth domain connecting to the healthcare specialists.

It runs an app where the users can easily chat with their doctors or even request visits with consultant specialists while connecting over video and audio calls from the comfort of their homes and offices.

Visit Health even claims to be a completely integrated, 360-degree main platform related to healthcare. It can aid the company in designing primary care, including the medieval services before the wellness and hospitalization solutions for the employees and their dependents.

The app uses a holistic approach to smart data, engaging and guiding the users throughout their well-being journey around the four main pillars of a mental wellness program: physical, financial, legal, and emotional.

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Resonea

Startup Name Resonea

Year Founded 2016

Founders Ruchir Sehra and Sanjiv Narayan

Resonea – Healthcare Startups Helping Workplaces

The studies note that employees are adversely affected by poor sleep health and fatigue, eventually impacting their performance. Restful sleep can impact the mental and physical performance and productivity of employees.

Some employers are highly keen on the qualitative rest of the workers. Through the sleep programs held by the companies, employees can significantly enhance their wellness, irrespective of whether they are suffering from any type of disease or dealing with sleep disorders.

Resonea is a US-based firm creating an online sleep-enhancement program and an app specifically designed to offer information, tools, and strategies to help in better sleep, a better lifestyle, and enhanced productivity. Furthermore, the firm even offers smartphone-based home testing to detect sleep apnea called “Drowzle”.

The Pip

Startup Name The Pip

Year Founded 2021

Founders Kathy Kaluhiokalani

The Pip – Healthcare Startups Helping Workplaces

Wellness not only implies taking care of the body but also positively affects the mind. The mobile platforms and applications offer employees support for the challenges that involve depression, stress, and anxiety disorders. The users are then awarded periodically to set wellness goals and their accomplishments.

The Pip is an Irish startup that allows people to visualize and manage stress levels. The startup system comprises an application that aims to de-stress, learn and re-focus to manage stress in a better way and a distinctive device with Bluetooth connection to detect if the individual is relaxed and focused and even stressed.

The data points are influencing the effectiveness and scoring progress under this session. The app then starts responding to the transforming stress levels using visual and audio feedback.

Buffer

Startup Name Buffer

Year Founded 2010

Founders Joel Gascoigne

Buffer – Healthcare Startups Helping Workplaces

Buffer is a firm that supports its employees in disclosing their emotions. They strongly believe in encouraging people and their authenticity to make themselves complete during work, and it means sharing the highs while supporting individuals in their lows.

Joel Gascoigne, the CEO, openly shares that he had faced darker days and even tweeted regarding the times he had spoken to the therapist, which is a way to deal with the overwhelming senses. The firm is offering access to online therapists for the remote workforce and subscription fees to the health and wellness app, “Joyable.”

There are resources such as Slack being used to discuss and share mental health resources. There is a greater emphasis on preventative means, including the introduction of “Unsick Day.” It is mainly the day which is dedicated to preventative care.

NextJump

Startup Name NextJump

Year Founded 1994

Founders Charlie Kim

NextJump – Healthcare Startups Helping Workplaces

NextJump is an e-commerce company that strongly believes that their instances go ahead in proving that small companies should never become a hurdle to aiding employees’ mental and health well-being.

In reality, wellness and health are one of the main basic principles of the business. Help gets offered under every attribute of fitness and health, including energy management, mental health, and nutrition. It aids the adequate breaks as the potential way for re-energizing and aiding people to work potentially well while returning to it.

It offers healthier snacks. These employees offer an entire range of physical activities to get involved in and are encouraged to participate for about twenty minutes a couple of times a week. The emotional and psychological coaching programs are also offered with greater emphasis on being the best you can be.

Wellable

Startup Name Wellable

Year Founded 2013

Founders Nick Patel

Wellable – Healthcare Startups Helping Workplaces

Wellable is the most comprehensive wellness provider empowering companies of every size to create engaging employee well-being programs.

Working with employers, properties, and health plans across the globe, wellness now has active users across 35 nations. Wellable even has associates supporting the physical and mental health of the employees while strengthening the company culture and enhancing the main workplace productivity levels.

Wellable now offers the most modular ecosystem of wellness services and technologies while allowing its clients to pick products that work the best for their companies. The main solutions included are multimedia educational content, an award-winning wellness program, and on-demand fitness and mindfulness classes. Wellable supplements its digital platform with onsite and virtual experiences.

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Nova Benefits

Startup Name Nova Benefits

Year Founded 2020

Founders Saransh Garg and Yash Gupta

Nova Benefits – Healthcare Startups Helping Workplaces

Nova Benefits is a Bengaluru-based company founded in 2020. It is a B2B tech-based platform helping companies to enhance employee well-being through wellness programs, daily fitness, health insurance, and mental health counseling programs.

The team members are offered a single platform for accessing their company-offered benefits. It is a startup that consists of direct insurance broking licenses through the Insurance Regulatory and Development Authority, allowing it to offer businesses a combination of coverage and insurers.

The client’s onboarded Nova team includes CoinDCX, Snapdeal, Zenoti, and Yulu. Nova rose to around $10 million under a Series A funding round led by the SIG or Susquehanna International Group, Titan Capital, Better Capital, Bessemer Venture Partners, and Multiply Ventures in September 2021. These assisted in expanding their customer success teams, product management, engineering in building a massive stack of wellness offerings on the platform, and sales.

eKincare

Startup Name eKincare

Year Founded 2014

Founders Kiran Kalakuntla, Srikanth Samudrala

eKincare – Healthcare Startups Helping Workplaces

Corporate wellness and health programs mainly focus on supporting their employees in staying healthier, monitoring their health conditions, and preventing chronic conditions and potential diseases while reducing overall healthcare costs. It mainly includes fitness programs, health screenings, and preventative care.

eKincare is an India-based company built on a robust platform powered by Artificial Intelligence with real-time health analysis. The platform offers their employers data regarding the well-being of the workers, actionable insights, and potential risks. Additionally, the system offers health-tech services, including e-pharmacy, online health checkup bookings, telemedicine, and more.

The vision of these startups is to create a preventive, predictive, and highly personalized healthcare journey for the professionals to aid them in adopting a healthier lifestyle and empower the companies with technology and relevant data for reducing the overall health-related risks for their employees across the platform.

eKincare has raised $15 million under Series B funding in the March 2022 round led by the Sabre Partners, Eight Roads, HealthQuad, Endiya Partners, and Siana Capital for accelerating the growth through branding and marketing along with the addition of products.

Final Takeaway

Although we believe data is the primary key to creating deeper insights, it is easily overwhelmed. Our primary ambition lies in creating the most comprehensive overview and offering actionable innovative intelligence for the partnership, investment targets, and PoC or the Proof of Concept.

We understand that a majority of conditions and diseases drive healthcare costs to unsustainable levels, which are the ones that come out due to negative lifestyle habits. Consequently, the only solution is to take care of the employees while supporting them with the resources empowering them with self-assessments, and developing healthier habits with time.

The availability of science-based and preventative mental health assessments is a ray of good hope for conscientious employees. These are the primary tools playing a huge role in creating organizations and teams that are healthier and highly resilient while offering them a greater competitive edge in times of uncertainty during the aftermath of this pandemic.

FAQs

What are the Top Health And Wellness Companies?

Here are some of the top Health And Wellness Companies:
- CircleCare
- Visit Health
- Resonea
- The Pip
- Promiser
- Buffer
- NextJump
- Wellable
- Nova Benefits
- eKincare
How to support staff wellbeing in the workplace?

To support staff wellbeing, provide mental health resources, encourage work-life balance, offer regular feedback, and create an inclusive, positive work environment. Recognize achievements and promote open communication for a supportive culture.

How do you engage employees in wellbeing?

Engage employees in well-being by offering wellness programs, flexible work options, and a supportive culture that promotes work-life balance.
October 30, 2024
Top 14 Healthcare Business Ideas For Medical Entrepreneurs in India [2022]
Healthcare is a rapidly developing industry in India and opportunities are always on the rise. The Healthcare sector is one of the fastest-growing sectors in India and by 2022 it is expected to grow up to Rs. 8.6 trillion. The healthcare business in India has grown considerably in 2021 because of the global pandemic that started in March 2020.

Looking at the current state of the world, the thing which we learned is the importance of health care. Pandemic has taught us how small things can affect our health. Equally, this also gives a boost to the healthcare business opportunity, so if you are an entrepreneur planning to enter the healthcare industry this is the right time to invest and grow in this business.

Why You Should Consider Healthcare Business in 2022

Healthcare App Statistics

Medical business ideas have become the most profitable business ideas these days. Here are the reasons to consider a medical-related business in 2022.
- The Healthcare industry in India is expected to grow up to Rs. 8.6 trillion in 2022.
- The healthcare sector can create employment opportunities for millions of people by 2021.
- India’s medical device market size could grow up to $50 billion by 2025.
- The applications of AI in the healthcare industry is progressing at a high pace. Soon India will be worth US$ 6 billion by 2021.
- There are a total of 4,892 startups in the Indian health-tech space.
Best Medical Business Ideas for Doctors in India
Best Business Ideas in Medical Field in India

List of the top 14 Best Healthcare Business Ideas in India (2022)

Medical Transcription Services

One of the most well-known medical business ideas is Medical transcriptions as it listens to the voice recordings submitted by the physicians or healthcare workers and converts them into written notes. It ensures that the patients receive the right treatment and medications. Medical Transcription Services is one of the best business ideas for healthcare professionals. The recent advances in a speech to text technology are likely going to affect medical transcription jobs in the future.

Medical Records Management

One of the successful healthcare startup ideas and best business ideas for doctors in India as it can assist doctors and hospitals by managing their medical records. You can either provide full-service medical records management. You can also assist your clients by helping them to manage their medical records by training their staff.

Healthcare app

Health apps and smart health devices Usage in India

In this growing world of technology patients already have a plethora of apps to deal with, which is why making a healthcare app is a good healthcare business idea in India. So providing a holistic app to the patients that will fulfil their every healthcare need is a great approach. This approach to personal health will benefit the patients as well as the business.

Medical Billing Service

It is the right time to begin a business in the healthcare sector as Medical billing services because of the rise in insurance claims by the patients. Due to which the hospitals face the hassle during insurance claims. So to assist them and reduce the burden on hospitals. A medical biller is a person who handles medical claims for insurance companies. This will lessen the burden on the hospitals during medical claims by the patients.

Home Healthcare Service

Home healthcare services are the services that are been provided in the convenience of home to the patients. These services are provided to elderly people. Home healthcare services are less expensive and convenient. And are more effective as compared to that of the care you might get in hospitals.

There are three types of home healthcare services.
Personal care- In personal care nurses are being provided to the elderly people to help them in their daily activities like bathing, dressing, and preparing meals for them.
Private nursing care- In private nursing care, home-based skilled nurses are provided for long term or hourly nursing care for elderly or adults with an illness injury or disability. These services include ventilator service, nursing care, and catastrophic care.
Home healthcare- In-home healthcare service the patients can request a short term physician who can help the patient to recover from illness.

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Diabetic Care Center

The diabetic care centre is one of the top healthcare business ideas in India. The diabetic management centre has all the diabetic management facilities under one roof. It helps the patients to control their diabetes and avoid any serious diabetic complications that may arise due to uncontrolled diabetes.

Physical Therapy Center

Physical therapy is also known as physiotherapy. It is one of the allied healthcare professionals who treat patients with conditions like acute pain or soft tissue injury. A physical therapy centre is a prominent business idea that is profitable as well. You have to open a facility in which you can hire professional physiotherapists to treat the patients. They are also required by fitness centres or sports facilities.

Medical Supply Sales

Customers are always on the look for healthcare products such as medical supplies, braces and many more. You can supply the medical supplies to individual patients or to retailers. An e-commerce site is a better option to increase sales and it also helps the customers, who might face difficulty reaching the stores.

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Nutritionist

Being a Nutritionist is a profitable and less stressful job as compared to other healthcare services. a nutritionist is an expert in the field of food and nutrition. He/she advises people on what to eat to maintain a healthy lifestyle. Many organizations such as hospitals, schools and cafeterias need nutritionists.

Childbirth Services

Childbirth services are a bit complicated and crucial healthcare business to handle. If you hire an expert for the job who can make your business grow then childbirth services are a great option. The sole purpose is to attend to a woman during delivery and while birth.

Fitness and Gym Centre

Fitness and Gym Centres are arguably one of the most profitable healthcare business ideas. For both of these centres, one must find a good location and good equipment in order to attract customers. Due to Covid-19 and the increase of other diseases people want to stay healthy and stay fit. And if you are a fitness trainer you can try opening a gym.

Virtual doctor services

Telemedicine Market expected growth in India

This telemedicine market is currently on the rise especially after the pandemic, as people prefer online consultation of doctors than compared to going to the hospital. In 2021, the platform already connects over 100,000 doctors with 300 million users in over 200 cities and has helped people who don’t have time or even rural people to get good quality doctor services.

Aerobics Centre

Aerobics exercise helps in improving the human cardiovascular system in absorbing and transporting oxygen. Learning aerobics are now in demand as people have become more and more health-conscious and preferring to go to aerobics centres instead of going for medicines.

Retail Pharmacy

Annual Turnover of Indian Pharmaceutical market

The $312.1 billion pharmacies and drug store industries are expected to increase in the next five years. Retail pharmacy includes facilities that dispense over-the-counter medications and prescription drugs and also includes operations that deliver prescriptions to patients at discharge, as well as mail-order pharmacy services.

Conclusion

These are the Top 14 Healthcare Business Ideas For Entrepreneurs in India. There are many business opportunities in the healthcare sector regardless of rural, suburban, or metro cities in the coming future. For any entrepreneur planning to start a healthcare business in India, it is the right time to commence your business.

FAQs

What is the healthcare business in India?

The healthcare sector consists of businesses that provide medical services, manufacture medical equipment or drugs, provide medical insurance, or otherwise facilitate the provision of healthcare to patients.

What are the medical business ideas for 2022?
- Retail Pharmacy
- Aerobics Centre
- Virtual Doctor Services
- Child Birth Services
- Nutritionist
- Fitness and Gym Centre
What are the best future business ideas for healthcare?
- Medical supply sales
- Physical therapy centre
- Diabetics care centre
- Home healthcare services
What are the healthcare startup ideas?
- Medical billing service
- Medical transcription services
- Medical records management
- Healthcare app
May 2, 2022

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Year Founded	2016
Founders	Ruchir Sehra and Sanjiv Narayan

Startup Name	The Pip
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Founders	Kathy Kaluhiokalani

Startup Name	Buffer
Year Founded	2010
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Startup Name	NextJump
Year Founded	1994
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Startup Name	Wellable
Year Founded	2013
Founders	Nick Patel

Startup Name	Nova Benefits
Year Founded	2020
Founders	Saransh Garg and Yash Gupta

Startup Name	eKincare
Year Founded	2014
Founders	Kiran Kalakuntla, Srikanth Samudrala

StepSetGo – How it Makes Every Step Count?

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 StepSetGo.

The benefits of fitness go on and on, but you need consistency and discipline in order to stick with a routine long enough to reap those benefits. That’s where technology can help. The right app can act as a virtual personal trainer or training partner to keep you motivated and accountable. Running and jogging help to build strong bones, as it is a weight-bearing exercise, strengthen your muscles, improve cardiovascular fitness, burn plenty of kilojoules and help you maintain a healthy weight.

StepSetGo is one such health and fitness app that lets people earn coins after every walk, which they can redeem in the in-app store for free products or discounts. StepSetGo app aims to get people out of the workout rut by incentivizing the process of walking. PM Modi also recognized this fitness app in his Mann ki Baat address.

StepSetGo- Company Highlights

Company Name	StepSetGo
Headquarter	Mumbai
Founders	Shivjeet Ghatge, Misaal Turakhia, and Abhay Pai
Founded	January 2019
Sector	Health & Fitness
Parent Company	Pepkit Media Pvt. Ltd
Website	www.stepsetgo.com

StepSetGo – About and How it Works
StepSetGo – Industry
StepSetGo – Founders
StepSetGo – Startup Story | How was StepSetGo Founded?
StepSetGo – Vision and Mission
StepSetGo – Name, Logo and Tagline
StepSetGo – Business and Revenue Model
StepSetGo – Growth
StepSetGo – Partnerships
StepSetGo – Challenges
StepSetGo – Marketing Strategy
StepSetGo – Competitors
StepSetGo – Recognitions and Achievements
StepSetGo – Future Plans

StepSetGo – About and How it Works

With StepSetGo, founders wanted to make fitness simple, engaging, fun, and get as many people as possible to take up the challenge without asking them to do too much. So, walking was something that they knew they could use as an instigator to get users to get moving. It is something that they regularly do, all they needed to do was track it, institute a rewarding system, and make it social.

How StepSetGo works is simple; the app tracks everything from users’ steps, calories lost to the kilometers walked. It then converts those steps into SSG coins which is the currency used to redeem offers from the in-app marketplace called the ‘Bazaar’. Users can earn 1 SSG coin for every thousand steps they take. While fairly simple, earning these coins is purely dependent on the user’s diligence and persistence towards getting those steps in daily.

Once enough coins are accumulated, the user can reward his/her progress with gadgets, apparel, online courses, wellness products, and even bikes from the Bazaar section of the app. StepSetGo has taken things one step further, by heightening the engagement and motivation by introducing a healthy dose of friendly competition through the ‘Arena’ section in the app. There, users can compete with family and friends to reach specific goals, which ultimately encourages the building of healthier communities.

There is no limit to the number of coins a user can collect but limitations are only determined by each individual and also there are daily limitations. Therefore the longer your commitment to fitness is, the more rewards you can earn with StepSetGo. This simple yet viral concept has, in the last two years building its registered user base to nearly 7 Million.

StepSetGo Tools

JIRA, Confluence, Asana, Slack, Whatsapp Web are the few tools StepSetGo uses to ensure business continuity and seamlessness. Additionally, they’ve invested in an Atlassian suite for better communication within the team.

StepSetGo – Industry

2020 has been an extremely transformational year for the fitness industry. The almost overnight churn of traditional to virtual has not only had an impact on the responsiveness of the industry to adapt and evolve but also has molded a new generation of fitness enthusiasts. This new generation has finally been given enough nudges towards making that long-term commitment to their fitness journey and is seeking more accessible means to achieve it. Apps, virtual training, gamification with a combination of traditional offline solutions will chart out the next few years of the industry.

StepSetGo – Founders

StepSetGo was founded by Shivjeet Ghatge, Misaal Turakhia, and Abhay Pai.

Abhay, Misaal, and Shivjeet have been friends for a while and they’ve always wanted to work together on something they could call their own. Sports and fitness are shared passions and the trio always knew they wanted to create the next big thing in the Indian fitness space. They all come from varied backgrounds, which came together perfectly to build and launch StepSetGo.

Abhay Pai

Abhay Pai is the Co-founder and CTO at StepSetGo. He holds an M.Tech degree and specializes in building high-scale technology solutions while heading the engineering team that develops, manages, and maintains all server-side infrastructures. He is also involved actively in the development and optimizations of the iOS and Android mobile apps for StepSetGo. While working with high scale tech-driven companies like IBM and BookMyShow, Abhay learned quickly what goes into building and scaling up a platform – which made him the perfect fit at StepSetGo.

Misaal Turakhia

Misaal Turakhia is a Co-founder and CPO at StepSetGo. With a Bachelor’s degree in Computer Engineering from NMIMS and a Master’s degree in Advanced Computer Science from the University of Leicester, Misaal handles the technical aspects of the product, UI & UX, as well as app development. After switching from a leadership position at Fork Media, Misaal developed a logistics app for his father’s spice trading business, which received a lot of attention and instigated his drive to pursue the next big thing. Watching his father run his own business gave him the inspiration to start his own entrepreneurial journey and that came into motion through StepSetGo.

Shivjeet Ghatge

Shivjeet Ghatge is a Co-founder and CEO at StepSetGo. As CEO, he looks after the finances, marketing, and business development for the platform, which are the areas of his core competence. After graduating from Grenoble Ecole de Management with a degree in international business, he began his journey as a working professional with some extremely reputable agencies like Duval Guillaume, a prominent and well-known advertising agency in Belgium, Publicis Paris, Umbrella Design, and Grey Worldwide. Working with these companies helped him hone his skills in brand marketing and business development, which eventually led him to start his own consulting agency. Working with this new generation of go-getters who were determined to go off the beaten path, in a direction that had not been explored by their predecessors inspired him to do the same.

What started out as a three-person setup, out of a friend’s father’s office space, has now grown to a 32-member team. StepSetGo’s team comprises young, vivacious individuals who work dedicatedly to make the platform reach newer heights in the least amount of time possible. The success of StepSetGo is a joint and collective ambition.

StepSetGo – Startup Story | How was StepSetGo Founded?

Misaal, Abhay, and Shivjeet have always had a passion for fitness, and they knew that was the space they wanted to be in. While the trio went through multiple concepts that went from the idea board to the actual business plan, they knew that they still hadn’t found a hook that would set them apart from the rest. This was when, during a seemingly innocent conversation about their sporadic workout regimens that involved spurts of rigorous workouts with bouts of none at all, Abhay mentioned that if they got paid to exercise, they’d take their commitment to fitness a lot more seriously. That was when StepSetGo was born.

When they were about six months in, at the starting of 2019, they were hesitant about pushing its concept out into the market. After a lot of R&D and testing within their own social circles, they knew that they needed an unbiased sample size in order to get honest and actual feedback. So, they decided to take the leap and on 10th January 2019, they launched the application and did a dipstick at the NMIMS College in Bombay with the students there. Little did they know that by the end of the day StepSetGo would have 200 new registrations and by March 2019, they would be up to about 55,000+ new user registrations.

Their dipstick at NMIMs college launched their first 200 users and from there on their concept has only further catapulted their brand awareness. In the first three months StepSetGo had reached almost 55,000+ registered users a day and today StepSetGo has clocked a total registered users base of nearly 7 million through organic routes.

As people used StepSetGo and saw individuals in their immediate circles reap the rewards, proof of concept was established and ultimately created an almost viral momentum for StepSetGo. Today, the platform has turned into a dinner-table conversation for users and their families.

The organic following StepSetGo acquired a loyal user base that loves using the application, and this helped them cross nearly 7 million registered users in just 20 months. That was a huge accomplishment for them because it was then that they realized that they had a unique concept that had a sense of virality built into it.

StepSetGo – Vision and Mission

The ideation and final launch of StepSetGo involved an immense amount of market research. From their research, they found that there are about 400 million people who were conscious of getting fit. However, only about 45 million were actually doing anything about it. Therefore, their goal was to reach those 350 million or so people and find a way to create something that would not just get them to begin a commitment to their fitness journey or goals but ensure it was a long-term one.

With that in mind and with a joint vision to build a fitter community, they came together to build a platform that would incentivize its users to make a long-term commitment to their fitness journey by providing them with immediate rewards.

StepSetGo – Name, Logo and Tagline

StepSetGo is all about getting started with one’s fitness journey, so they wanted to translate that concept to something that had a lot of energy behind it. The phrases Ready-Set-Go or Get-Set-Go were easy connections for them, considering that, that’s what one says at the start of a competition or race. So, they started to toy with terms that would be a call to action and had a concept of movement to it. That’s how StepSetGo was coined.

Name – StepSetGo
Tagline – Make Every Step Count

StepSetGo Logo

StepSetGo – Business and Revenue Model

The StepSetGo funding is provided by Huddle and ESV. Also, the StepSetGo revenue model as of today is through ad networks like Google, AdMob, and Facebook Audience Network as well as brand partnerships.

StepSetGo – Growth

The initial growth highlights can be summed up by StepSetGo’s social media following, which are:

Instagram – 1,38,000+ Followers
Facebook – 79,294+ people like this
Twitter – 5,162+ Followers
LinkedIn – 2,082+ Followers

StepSetGo – Customers/Clients Acquisition

‘Word of mouth has been its most powerful tool to make a name of StepSetGo in an incredibly cluttered market. Their strategy was very simple i.e. reward users for walking and the concept spoke for itself. In fact, their referral campaign is what has helped them really escalate the momentum at which they grew, because it gave users an easy way to build their SSG coins piggy bank by just getting more people to not just join but start walking and complete a minimum of 5000 steps. Additionally, at the beginning of the lockdown, since it was mandated for people to stay at home, they even instituted an indoor walking rewards system to continue to motivate and incentivize their users to keep up their progress.

Apart from that, marketing hasn’t played a very pivotal role in StepsetGo’s growth, however introducing new gamification features and avenues through which users can interact with social circles, at consistent intervals is what has helped keep things engaging. To enhance the appeal, they’ve collaborated with leading brands like Bajaj Avenger, Bewakoof, Skechers, Puma, and Decathlon among others to reward their users for making an effort to stay fit.

StepSetGo – Partnerships

StepSetGo has seen partnerships, among which the partnership with Symbo on April 28, 2022, is the latest one. The collaboration with Symbo Insurance, a leading insurtech firm, aims to launch a one-of-a-kind health insurance. This health insurance will be available on the app of the award-winning health and fitness industry disruptor, StepSetGo (SSG), which will also help the users earn cashback on their premium. This will make StepSetGo foray into the new segment of insurance. SSG, thus, will not only take care of the health of the users but also insure their health in real-time. This SSG insurance in partnership with Symbo will be cost-friendly, effective, and unique in nature.

The incentives that StepSetGo will likely offer will be awarded as monthly cashback, where the users would be able to earn back a maximum of 25% of the price of the premium by meeting their step goals. For instance, if someone completes 60,000 steps in a month, 2000 steps daily on an average, then he/she will be able to earn a minimum of 10% cashback. Thus, if he/she wants to claim 25% cashback, then 4,50,000 steps must be completed per month, which will make 15,000 steps daily on an average. The users can, in this way, keep track of the total steps they have completed, and the cashback they have earned. This will help them stay motivated and consistent.

StepSetGo – Challenges

The challenge was creating an application that was easy to use for everyone. The founders had to keep in mind the policies required for both Android and iOS systems. Their motive was to target anyone with a smartphone who could understand the concept and smoothly use the app. Building an application for the masses is tougher than it sounds even when one has a great idea.

StepSetGo – Marketing Strategy

StepSetGo’s one and only marketing strategy have been ‘word of mouth’, which was only made possible by a simple concept but had a unique added concept of customer-centric engagement at its core. It helped them get their first 200 users and has continued to help them grow their base to almost 7 million today.

StepSetGo – Competitors

Some of StepSetGo’s competitors are

Curefit
BurnCal
Cadoo
Abvio

StepSetGo – Recognitions and Achievements

StepSetGo recently won the Atmanribhar Bharat Innovation Challenge under the health & fitness category.

PM Modi also recognized this fitness app in his Mann ki Baat address.

StepSetGo – Future Plans

Userbase: over 7 million registered users

Notable client: The app has also collaborated with leading brands like Bajaj Avenger, Bewakoof, Skechers, Puma, and Decathlon among others

As per Similarweb’s data, StepSetGo ranks second after the Aarogya Setu app in terms of user engagement under India’s free apps’ category. StepSetGo is completely bootstrapped and is less than 2 years old. More than 95% of all of StepSetGo’s users are organically acquired. In September, StepSetGo entered the top 50 free apps under the Indian ‘all’ category and reached the #2 spot in India under the ‘health and fitness category.

There will be more fitness-oriented features that go beyond just walking. More of the gamification that you already see on the app, to keep people motivated. Additionally, there will be quite a few features that are coming up in the bazaar section that is just around the corner.

FAQs

What is StepSetGo?

StepSetGo is fitness the app tracks everything from users’ steps, calories lost to the kilometers walked. It then converts those steps into SSG coins which is the currency used to redeem offers from the in-app marketplace called the ‘Bazaar’. Users can earn 1 SSG coin for every thousand steps they take.

How does StepSetGo earn money?

At the moment, StepSetGo gets its revenue from advertisements, which the users can choose to watch to earn coins but a user can earn only up to four coins per day through this.

Who is the founder of Step Set Go?

Shivjeet Ghatge, Misaal Turakhia, and Abhay Pai are the founders of StepSetGo.

Is StepSetGo a Chinese app?

No, StepSetGo is an Indian app headquartered in Mumbai.

April 28, 2022

Top 18 Healthcare and Pharma Startups in India 2022
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:

List of top pharma startups in India

Netmeds
ImpactGuru
Docplexus
Mera Medicare
3Hcare
Ekincare
Practo
PharmEasy
AddressHealth
Consure Medical
DocTalk
HealthKart
BeatO
Niramai
CrelioHealth (formerly LiveHealth)
Lybrate
Criador Design Labs
Green Cure Wellness

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Netmeds

Netmeds Website

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.

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Consure Medical

Consure Website

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.

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As the healthcare field is growing rapidly and so are the businesses and startups. Here’s the curated list of the best healthcare business Ideas.

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Conclusion

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.
March 19, 2022
List of Top 10 Startups in Paris Contributing in Europe’s Startup Ecosystem
Paris is famous for being one of the most popular fashion cities. It is often regarded as the fashion capital of the world. The moment we hear about Paris, the first things that come to mind are Eiffel Tower and Persian fashion. But this beautiful city has much more to offer.

Paris is home to many flourishing startups. It has the most innovative ideas, creative people, and technology. The tech sector in Paris is super dynamic and has a great spot in Europe’s entire tech ecosystem.

Among Europe’s best startup hubs, Paris stands among the top three cities. Be it advertising, financial, logistics, food, Paris has now a variety of startups.

Paris – The Evolving Startup Hub in Europe
Top 10 Startups in Paris
1. PayFit
2. Alan
3. Leavy
4. Heetch
5. Memo Bank
6. Kard
7. Yubo
8. ManoMano
9. Meero
10. Ledger
Paris – The Evolving Startup Hub in Europe

In the earlier times, it was quite difficult to set up a business in Paris. But the times have changed now. Today great attention is being paid towards building an advanced technology startup hub.

The development of a great tech sector needs three things. These are great-minded specialists, investment, and a growth-supporting ecosystem. The city of Paris has shown great progress in all these over the years.

The educational system of Paris is one of the most demanding. It offers many entrepreneurial programs. The environment of the city is more progress-oriented than ever before.

More and more startups are now establishing in Paris due to favourable conditions. This has made a great contribution to the economy of France. Thus, over the year, Paris had made great progress in many fields apart from being known as a fashion capital.

Paris Startup Ecosystem

Top 10 Startups in Paris

Paris is now a budding home for many startups. Not only the natives but the people from outside are also interested in establishing startups here. The following are some of the top startups in Paris:

PayFit

Founder: Florian Fournier, Firmin Zocchetto and Ghislain de Fontenay
Founded: 2016

PayFit – Top Startups in Paris

It is one of the most popular startups in Paris, launched in 2016. Florian Fournier, Firmin Zocchetto and Ghislain de Fontenay are the founders. It is a cloud-based software for the management of payrolls. This makes the process easy and efficient and thus, increases the productivity of human resource managers.

PayFit is not based on a fancy concept. But it is a great deal as it helps with the efficiency of the work ecosystem. The startups deal with all the activities of HR. It has its customers in France, UK, Germany, and Spain.

Alan

Founder: Charles Gorintin and Jean Charles Samuelian
Founded: 2016

Alan – Top Startups in Paris

It is a digital health insurance startup, founded in the year 2016. Charles Gorintin and Jean Charles Samuelian are the founders. This Persian startup focuses on user experience by providing great quality health plans at reasonable prices.

After 1986, this is the first independent company to get its insurance licensed by the French Prudential Supervisory Authority in France.

Alan has made healthcare in France better and more resourceful. It has even got the status of a unicorn startup.

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Leavy

Founder: Aziza Chaouachi, Yassine Ben Romdhane and Mario Moinet
Founded: 2017

Leavy – Top Startups in Paris

Leavy is a startup established in Paris in the year 2017. Aziza Chaouachi, Yassine Ben Romdhane and Mario Moinet are the founders. It is a travelling community and marketplace. It aims to make travelling easy and affordable.

With this app, people can rent their spaces while they are travelling. In this way, they can earn money while being away from home. This Persian startup has made great progress and is an attractive catch for millennials.

Heetch

Founder: Jacob Mathieu and Teddy Pellerin
Founded: 2013

Heetch – Top Startups in Paris

Heetch is a ride-sharing company based in Paris, founded in the year 2013. Jacob Mathieu and Teddy Pellerin are the founders of the startup. The main target is the late-night transportation seekers. It is like an alternative to regular taxis.

The drivers of Heetch are available 24/7. So, when public transport lets you down in the middle of the night, Heetch is there to help. One can know about the price before taking the ride and can select the payment method of their choice. With great progress over the years, the company has expanded its services to Belgium, Italy, and more.

Memo Bank

Founder: Michel Galibert and Jean-Daniel Guyot
Founded: 2017

Memo Bank – Top Startups in Paris

Memo Bank is a French fintech startup founded in the year 2017. Michel Galibert and Jean-Daniel Guyot are the founders. It is an independent bank for medium and small-sized companies.

This startup helps businesses with banking services and managing their financial flows. This aims to support the growing businesses with their finances in the best possible way. Memo Bank is one of the most popular fintech startups in France.

Kard

Founder: Amine Bounjou and Scott Gordon
Founded: 2018

Kard – Top Startups in Paris

Kard is another Persian banking startup, founded in 2018. Amine Bounjou and Scott Gordon are their founders. This startup focuses on teenagers. They believe that most teenagers deal in card payments and for that, they have to borrow their parent’s cards. So, Kard enables teenagers to have their debit cards and enjoy banking services.

Kard enables teenagers to have their bank accounts. Parents can add money for children and let them spend accordingly. This empowers the youngsters with banking experience according to their needs and gives them control over it.

Yubo

Founder: Sacha Lazimi, Jeremie Aouate, and Arthur Patora
Founded: 2016

Yubo – Top Startups in Paris

Yubo is a social networking app based in Paris, founded in 2016. Sacha Lazimi, Jeremie Aouate, and Arthur Patora are the founders. The app focuses on youngsters aged between 13 to 17. This enables them to make new friends and create a healthy community.

It allows the users to chat, play games, and also live stream with up to ten friends. The app enables users to make friends all around the world.

ManoMano

Founder: Christian Raisson and Philippe de Chanville
Founded: 2012

ManoMano – Top Startups in Paris

ManoMano is a startup founded in 2012 in Paris, France. Christian Raisson and Philippe de Chanville are the founders of the startup. It is an online platform for home, gardening, and DIY products.

It might sound small but the company has made great progress and earned huge profits over the years.

Meero

Founder: Thomas Rebaud
Founded: 2016

Meero – Top Startups in Paris

Meero is a Paris-based startup founded in 2016. Thomas Rebaud is the founder of the platform. It provides photography services using algorithms of Artificial Intelligence and Machine Learning.

Meero helps photographers to follow their passion and establish their profession. It provides a platform for photographers to get clients. In this way, the photographers get work and clients get their work done in an easy manner.

Ledger

Founder: Eric Larchevêque, Joel Pobeda, Nicolas Bacca, Thomas France
Founded: 2014

Ledger – Top Startups in Paris

Ledger is a provider of security solutions for digital wealth. The company was launched in the year in 2014 by Eric Larchevêque, Joel Pobeda, Nicolas Bacca, and Thomas France. The company provides infrastructure and security to the consumers and investors of digital assets.

With the rise in the concept of cryptocurrency and other digital assets, Ledger has become super popular.

Conclusion

The above-mentioned startups show the growth of the startup industry in Paris, France. Paris has great advantages in its pockets. These are exquisite food and wine, great history, beautiful views, exclusive fashion, and more.

Now, Paris is not only known as a fashion capital but also a great hub for technology. It has startups for banking, HR, social networking, finances, healthcare, and more. Thus, Paris has flourished well in technology and has more to offer in the future.

FAQs

Which are the top startups in Paris?

Top 10 Startups in Paris are:
- PayFit
- Alan
- Leavy
- Heetch
- Memo Bank
- Kard
- Yubo
- ManoMano
- Meero
- Ledger
How many startups are in Paris?

There are around 8000 startups in Paris.

Which are the startup hubs in Europe?

Europe’s biggest startup hubs are:
- London
- Berlin
- Paris
- Barcelona
- Amsterdam
- Lisbon
- Munich
- Stockholm
- Copenhagen
- Milan
February 4, 2022
Get Personalised Fitness Solutions at Miten Says Fitness
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.

Company Highlights of Miten Says Fitness

Startup Name Miten Says Fitness

Headquarter Mumbai

Sector Health & Fitness

Founder Miten Kakaiya

Founded 2017

Parent Organization Miten Says Fitness LLP

Miten Says Fitness – About
Miten Says Fitness – Founders and Team
Miten Says Fitness – How was it Started?
Miten Says Fitness – Name, Tagline, and Logo
Miten Says Fitness – Business Model and Revenue Model
Miten Says Fitness – User Acquisition and Growth
Miten Says Fitness – Startup Challenges
Miten Says Fitness – Funding and Investors
Miten Says Fitness – Advisors and Mentors
Miten Says Fitness – Awards
Miten Says Fitness – Future Plans
FAQ

Miten Says Fitness – About

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,
1. Helping its clients with a laid down path to enable them to achieve their fitness goals.
2. Enabling access to world-class fitness knowledge and expertise right at their fingertips.
3. Making personalized fitness programs affordable to its consumers.
4. Educate its clients with the correct information
The USP of MSF is;
1. They provide the services of a personal trainer and a nutritionist under one roof.
2. 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.

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Miten Says Fitness – Name, Tagline, and Logo

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.

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Miten Says Fitness – Startup Challenges

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.
January 21, 2022

MedPlus – Story of India’s Second Largest Omni Channel Pharmacy

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 MedPlus.

There are millions of businesses in the world but not all of them carry equal importance. Some may be for entertainment, some for food, essentials, knowledge development, etc., but a basic requirement for running all the above businesses is our health. A place/business that helps us in taking good care of our health next to hospitals are the pharmacies. Carrying such importance, this industry has always seen growth. Now, by combining technology and healthcare needs, the pharmaceutical industry is enhancing itself to provide better and quick healthcare assistance to people.

MedPlus is one such pharmacy retailer offering multiple health services. They provide services like path labs, optical stores and physician consultation services, in addition to selling prescription medicines. MedPlus was established in 2006 by Madhukar Gangadi. Here, in this article, is the formation and growth of MedPlus along with its funding history, business and revenue models.

MedPlus – Company Highlights

Name of the Company	MedPlus
Headquarters	Hyderabad, India
Industry	Pharmacy
Founder	Madhukar Gangadi
Founded	2006
Total Fund Raised	$317.7 million
Website	medplusindia.com

MedPlus – Latest News
MedPlus – About
MedPlus – Industry
MedPlus – Founders and Team
MedPlus – Mission and Vision
MedPlus – Business and Revenue Model
MedPlus – Challenges Faced
MedPlus – Funding and Investors
MedPlus – Growth
MedPlus – Competitors
MedPlus – Future Plans
MedPlus – FAQs

MedPlus – Latest News

December 23, 2021 – Shares of MedPlus were listed on BSE and NSE on 23rd December. They were made available at a premium of 31 per cent. But the price ended at a gain of more than 40%, which is considered a big jump for MedPlus’s debut trade.

December 13, 2021 – The IPO subscription of MedPlus Healthcare Services opened on December 13. Though aggressive pricing has been followed by the company for its IPO, investors showed ample interest in the bidding. Almost 70% of the issue was subscribed on Day 1.

MedPlus Health Services IPO

MedPlus – About

MedPlus is an omnichannel pharmacy retailer offering healthcare services in India. The company sells medicines on prescriptions, FMCG products, nutritional supplements and many more. MedPlus also offers optical solutions and other medical consultation services in the country. It is based in Hyderabad and is the 2nd largest pharmacy chain in India, next to Apollo Pharmacy.

MedPlus, during its initial stages, operated under the name ‘Aushadi’. It was renamed ‘MedPlus’ after expanding its operation to over 48 retail stores. MedPlus Mart is the e-pharmacy store through which the company sells medicines online.

MedPlus – Industry

MedPlus belongs to the Pharmaceutical Industry. The pharmaceutical industry involves dealing with research, development, marketing and sales of medicines and drugs. They aim at preventing, protecting and curing the illness. The industry also deals with medical equipment and generic medications.

India’s pharma industry is huge. It is the largest supplier of generic medicines and ranks 3rd by overall production in the world. India meets the vaccine demand of the world by 50%, the generic medicine demand of the US by 40% and the UK by 25%.

MedPlus – Founders and Team

Madhukar Gangadi - MedPlus Founder — Madhukar Gangadi – MedPlus Founder

MedPlus was founded by Madhukar Gangadi in 2006 in Hyderabad. He has also served as the Chief Executive Officer of the company since its inception. Gangadi has an MBA degree from the Wharton School. He also earned a bachelor’s degree in medicine and surgery from the Sri Venkateshwara University. He used his experience in both healthcare and entrepreneurship to start MedPlus. The other core team members of MedPlus are:

Bhaskar Reddy Cherukupalli – COO (Retail stores)
Surendranath Mantena – COO (MedPlus Mart)

MedPlus – Mission and Vision

MedPlus Logo

MedPlus runs with a mission to turn itself as the customer’s first choice when it comes to medicines and healthcare. The company wants to understand the customer’s needs and exceed their expectations as much as possible. MedPlus has the vision to bring about a revolution in the healthcare industry in India.

MedPlus – Business and Revenue Model

MedPlus is an omnichannel platform that provides services through both retail stores and online platforms. The company increased its retail stores through franchises. MedPlus first chooses an area and studies its market, demographic needs and supply chain. Then it starts expanding its retail stores in and around the area by proper planning and implementation of strategies. Later, the company uses this growth and supply chain to expand its operations further.

MedPlus also operates its pharmacy business online through MedPlus Mart. This service was started in 2015 and was expanded across the country. MedPlus claims to be the first to start an omnichannel pharmacy in India. The company also entered the path labs and optical businesses in 2020. The revenue of MedPlus flows from the sale of medicines and other healthcare services offered by the company directly or through their franchisees across the country.

MedPlus – Challenges Faced

MedPlus faced severe challenges and criticisms at the time of establishing their online platform MedPlus Mart. The All India Organization of Chemists and Druggists (AIOCD) organized a nationwide strike against the company for starting e-pharmacies. They criticized that the chemists around the country will be severely affected by this MedPlus’s initiative. Then MedPlus made their sales policy explicit and clarified that they are complying with every aspect of the Drug Act.

MedPlus – Funding and Investors

MedPlus managed to raise a sum of $317.7 million through 7 rounds of funding. A total of 6 investors have invested in the company so far. Here is the company’s list of fundings:

Date	Round	Money	Investors
February 11, 2021	Private Equity Round	$13.5 million	Warburg Pincus, PremjiInvest
April 1, 2019	Series C	–	PremjiInvest
January 2, 2018	Debt Financing	$117.7 million	Goldman Sachs
December 15, 2017	Series C	$1.1 million	–
November 10, 2014	Series C	$89.9 million	Mount Kellett Capital Management
March 14, 2011	Private Equity Round	$90 million	TVS Capital Funds, Mount Kellett Capital Management
March 22, 2007	Private Equity Round	$3.1 million	Peepul Capital LLC

MedPlus – Growth

Starting its operations in 2006, MedPlus has seen enormous growth in about one and half decades. Today, the company has widened its business to over 2100 pharmacies across 7 Indian states. It also adapted to the technological advancements and established an online platform in 2015 to ease and widen its sales to customers. MedPlus has now issued its IPO thus aiming to enlarge its operations to every corner of the country in the future.

MedPlus also had consistent revenue growth over the years. The company’s CAGR growth is expected to grow 25% between the financial year 2020 and 2025. The market share of this omnichannel entity is 22% as of 2021. Similarly, the company reported an increase in revenue and profit for 2021, which was severely affected in 2020 due to the pandemic. At the end of the third quarter of 2021, MedPlus had revenue of ₹1890.9 crores and a profit of ₹66.36 crores.

MedPlus – Competitors

MedPlus has earned quite a good competition all through its operation span of over 16 years. Few of them, like Apollo, are omnichannel competitors. In fact, Apollo stands to be the largest pharmacy retail chain in India. In addition to it, few other companies, which show promising growth and worthy competition to MedPlus, have emerged. Here are some of them:

PharmEasy
Netmeds
1mg
Apollo Pharmacies
MedLife

MedPlus – Future Plans

MedPlus launched its Initial Public Offering in the name of MedPlus Health Services by mid-December 2021. The company is expected to be valued high in the near future. It is also planning for potential financial growth in the long term. MedPlus has decided to use the proceeds from IPO for meeting the future working capital requirements of the company. The majority of the funds are expected to be used for developing Optival Health Solutions. MedPlus is strategically planning every step to bridge the gap with the competitor ahead. The CEO Madhukar Gangadi confidently said that the MedPlus will overtake Apollo within the next two and half years.

MedPlus – FAQs

What is MedPlus?

MedPlus is an omnichannel pharmacy retailer offering healthcare services in India.

Who is the founder of MedPlus?

Madhukar Gangadi founded MedPlus in 2006. He is the CEO of the company.

Who are the top competitors of MedPlus?

Some of the top competitors of MedPlus are:

PharmEasy
Apollo pharmacies
Netmeds
1mg
MedLife

How many retail stores does MedPlus have in India?

MedPlus has over 2100 stores in the country as of March 31, 2021.

January 12, 2022

Growth Of Online Doctor Consultation Market During Pandemic
In an era, where everything is available at the click of a button it is no surprise that even a specialist doctor or a clinical examination could be done online. Online doctor consultation is a coveted field in India and is able to offer services like telehealth, telemedicine, telecare, and digital health care services. According to the survey conducted by Accenture in 2017, over 70% of the consumers are willing to experience health care services virtually, while 20% have already experienced virtual healthcare.

Many startup companies are looking to make it in the industry as it is currently rising. The consumer’s expectations for a convenient healthcare system are evolving while the healthcare industry is continuously striving to meet people’s needs with the help of technology. The telemedicine market in India is expected to reach $5.4 Billion by 2025 with a CAGR of 31%.

The online doctor consultation allows the dissemination of specialized knowledge among the medical community through advanced networks, reviews, emergency medical consultations during an epidemic or crisis among others. According to a report by Practo, online doctor consultations have increased 500% since March 2020, as five crore Indians are now accessing healthcare online amidst the COVID-19 pandemic.

Telemedicine Industry in India
Growth of Online Consultation in India
Importance Of Online Consultation
Target Audience of Telemedicine Industry
Future of Telemedicine Industry in India
FAQ’s

Best Online Doctor Consultation Apps in 2020

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Telemedicine Industry in India

The Telemedicine Industry is expected to create more than $5.4 billion market opportunities by 2025. Practo, DocPrime, mFine, CallHealth, and Lybrate are some of the leading startups in India’s telemedicine market. The COVID 19 outbreak has created many challenges in traditional healthcare systems, as citizens have not been able to consult with the doctors physically.

This situation has led the government to change the regulations around remote delivery of healthcare services and allow telemedicine via video, audio, or text. Telemedicine will not only help these startups address the spread of Coronavirus but also improve access to healthcare in rural areas. Innovative technologies are allowing health organizations to enhance access and reduce the burden on hospitals through real-time consultation with doctors through online services.

top doctor consultation sites in India

Telemedicine will reduce the time of consultations and improve the quality of healthcare services in rural areas, removing many infrastructural challenges. The World Health Organization (WHO) recommends every country to have a ratio of 1:1000 doctor to patient ratio, India only has one governmental doctor for every 1,139 people.

According to a report, India has a shortage of 600 thousand doctors and 2 million nurses. This leads to limited face-to-face consultations among patients. Secondly, India also has a shortage of hospital beds, which makes hospitalization difficult and there needs to be better infrastructure and facilities whereas with the help of online consultations the healthcare sector can reduce its problems.

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Growth of Online Consultation in India

Online consultation has become popular in India because it is easier and safer to access healthcare via call, video, chat with doctors, especially during the COVID-19 pandemic. The health ministry has urged people to take advantage of telemedicine services during the lockdown. And since then the usage of online consultation apps and medicine delivery services has been on the rise.

The pandemic has encouraged people to use the platform and consult a certified medical practitioner rather than resorting to self-medication. Online consultations are known for specialties such as Gynecology and Dermatology, while other specialties like mental health, pediatrics, ENT, ophthalmology, and gastroenterology are all well-known departments.

The growth of telemedicine in India

The telemedicine sector is steadily increasing not only across metropolitan cities but also in smaller cities like Hoshiarpur, Karnal, and Durgapur. The online doctor consultation platform mFine is seeing demand from states which has a low doctor-to-patient ratio since lockdown. The app has also seen new user signups and consultations from users in states such as Bihar, West Bengal, Jharkhand, and Uttar Pradesh where the doctor-patient ratio is the lowest in the country.

Many other healthcare startups are seeing an unprecedented surge in demand as they shift healthcare delivery onto the internet, promote telemedicine, encourage online medicine bookings and use chatbots to answer patient queries. The support rendered by the national and state governments, their subsidiary concerns, and allies such as the ISRO have contributed a great deal to facilitate the development of telemedicine as a well-recognized field.

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Importance Of Online Consultation

India has seen a tremendous increase in demand for telemedicine for healthcare services. According to Statista, the industry might have touched $280 billion by the end of 2020. Though the healthcare sector is seeing a giant leap in providing services to consumers, it has still not been able to expand its market in rural areas. Around 75% of the rural population is struggling with insufficient infrastructure and technological awareness. This is the reason why online consultation might help overcome this issue.
- Bringing quality healthcare services to the rural areas of the country.
- Benefits the people of rural areas in bringing down the disparity in healthcare offerings between the rural and urban areas.
- Provides access to qualified healthcare providers, specialized consultation, accurate prognosis, timely diagnosis, and effective course of treatment.
- The people of urban areas, who have access to world-class hospitals and treatment facilities but don’t have the time can seek help by online consultations.
- The patients can have real-time interactions through video conferencing solutions, or store and forward models which can capture patient and disease-related information through dictation, photos, videos, radiology, etc.
- The patients can get the benefits of an actual visit to the doctor without having to do so.
- Not just consultation and treatment, but many other services can be fulfilled through telemedicine, which brings together the best of both worlds – medicine and telecommunication.
- It helps in the dissemination of specialized knowledge among the medical community through advanced technology and peer-to-peer reviews.
- It’s very useful for emergency medical consultations in times of an epidemic or crisis.
How to provide a great online consultation experience

Target Audience of Telemedicine Industry
- People who are willing to try telemedicine.
- Application developers and network operators.
- Third-party suppliers and healthcare service providers.
- Potential Investors.
- Government organizations.
- Research Institutes.
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StartupTalkyParnas Ghosh

Future of Telemedicine Industry in India

With the growing attention for telemedicine services, countries around the world are developing a regulatory framework for the industry. While India is already one of the top 10 countries in telemedicine marketing the world, the adoption of a regulatory framework will help the segment grow rapidly.

Tattvan Mishra, founder, and CEO of Tattvan E-Clinics said that “India has seen considerable growth in the telemedicine sector however, the growth was not rapid due to the lack of proper guidelines and regulations. In the coming years, I expect a high investment from the private sector in the field of telemedicine. I think the telemedicine industry has a bright future and may become a multi-billion industry in the next 3-5 years.”

Online consultation platforms have supported the healthcare needs of Indians at a time of lockdown. Saurabh Arora, the founder and CEO of Lybrate in a press statement said that “It is the need of the hour to contain the spread of the virus. The healthcare burden on the country is gigantic around this time and platforms like ours can definitely help share it. People can consult doctors on Lybrate across specialties and so on other platforms, letting hospitals tend to more serious patients”.

Besides telemedicine, other health-tech segments such as online pharmacy, medical technology, and medical devices have also called for increased regulatory clarity so that startups can focus on the model rather than tweaking their operations. When it comes to the online consultation market, the COVID 19 crisis could bring about a lot of clarity and growth just like the fintech sector got a push in India after the demonetization in 2016.

FAQ’s

1. What is an online doctor consultation or online medical consultation?

When you visit a doctor about your health-related issues through an audio/video/chat, it is called an online doctor consultation or online medical consultation. This is an alternative for you when you cannot visit a doctor physically at the clinic or hospital.

2. How do I consult a doctor online now?

Book an online consultation either on the website or mobile app. Look out for the ‘Find a Doctor’ button on the homepage of the website/app, select the specialty of your problem or type the name of the doctor directly. Once the doctor of your specialty is selected, you can click on the “Consult Now’ button to start with the online consultation.

3. Do you provide online doctor consultation for emergencies?

No, it is not recommended. It is advisable to contact emergency services during emergencies. Emergency medical services are available round-the-clock which can be accessed by calling 112 or clicking the ‘Emergency’ tab on the homepage of the respective website/app.

4. Where is my prescription for the online doctor consultation?

Prescription for your online consult can be found in the Records/History section. By clicking on this tab, you will be able to view/download your prescription.

5. Is it safe to consult online?

Online consultation is absolutely safe and private, where customer information and health data is the most important thing that is kept private.
November 26, 2021
How I Am Love aims to redefine the relationship we have with our health
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 I Am Love.

I Am Love works in the Nutraceutical industry where it would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns. Launched in early 2021, the startup is working on developing more intuitive research-backed products.

StartupTalky interviewed Ms. Shilpa Rathi (Founder, I am Love) to get insights into the startup story and roadmap of the organization.

I Am Love – Company Highlights

Startup Name I Am Love

Founder Shilpa Rathi

Headquarters Mumbai

Founded Early 2021

Industry Nutraceutical

Website iamlove.in

I Am Love – About and Products
I Am Love – Nutraceutical Industry Details
I Am Love – Idea & Inspiration
I Am Love – Founders and Team
I Am Love – Ideology behind Name & Logo
I Am Love – Launch and Marketing Strategies
I Am Love – Challenges Faced
I Am Love – Funding and Investors
I Am Love – Future Plans
I Am Love – FAQs

I Am Love – About and Products

I Am Love came into existence in early 2021, with the aim of redefining the relationship we have with our health. It works in the Nutraceutical industry where the team would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns.

I Am Love blends science and innovation to deliver effective, yet gentle solutions. That means working with clinically proven ingredients and natural extracts which are sourced responsibly keeping the quality in mind. Its formulas are free from toxic preservatives, additives, artificial flavorings and sweeteners, and even artificial colors.

“We Believe that the answer to all our bodily concerns is deep within our food. Whether it’s for our skin, hair, cognitive functions, our physical or even our mental wellbeing” says Shilpa Rathi, Founder, I am Love.

I Am Love offers 5 products –
1. Acne negative – Reduces acne by controlling the sebum production throughout your body
2. Spotless – Resolves stubborn acne, pigmentation, Melasma, and dark spots anywhere on your body
3. Renew + Repair – A beauty protein powder with marine collagen and whey isolate
4. Protect + Repair – 100% Whey isolate with vegan collagen builders
5. Future – Immunity and stress relief mix
I am Love Products

I Am Love – Nutraceutical Industry Details

The Nutraceutical Market worldwide is around $530 Bn as of 2020 however in India it’s at a very nascent stage around 4-5 Bn. Covid has impacted the consumption of Nutraceutical at a Major level and the population is now understanding the importance of being healthy from within.

Shilpa’s decision for building I am love is based on deep Market reports through Mintel and likewise. The team even did a Dipstick study with around 5000 consumers to understand their knowledge of Nutraceuticals, their understanding of what are the current best ways to solve the problems they were facing, and built the business on the findings.

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I Am Love – Idea & Inspiration

Shilpa battled cystic acne back in 2009, in her late 20’s. It was the result of a personal loss that led to changing the body’s reaction to handling the depression. That along with her work stress led to the acne outbreak. Shilpa tried literally every solution she could get her hands on. Around that time she was traveling to the US and along with her brother there, who then worked in Pfizer, the duo developed a formulation for Shilpa to tackle her acne outbreak. It worked really well. Inittially the idea was only to cure her own acne, but now fast forward to 2020, Ms. Shilpa Rathi realized the Indian population was open to the Idea of supplements for health reasons and this led to her improvising the formulation that worked for her and launching it for everyone who was battling the same fight.

I Am Love – Founders and Team

I Am Love is a partnership between Shilpa Rathi and her brother Gaurav Rathi.

I am Love Founder – Shilpa Rathi

Gaurav is in the US and he is responsible for arranging funds and investors. Shilpa, in India, oversees Product development and Marketing. They are a team of 12 and growing.

“Hiring funda at I Am Love is clear, someone who is always willing to think outside the box, I believe that the most important criteria when looking for talent, even more than experience is whether that person is an initiator, can look at a situation from all fronts but also knows when to drop the ball and act fast” – Shilpa added.

I am Love team

I Am Love – Ideology behind Name & Logo

Though there were plenty of options for the brand name, I Am Love struck out because it was clear. The product is love, love for all your senses, and we all know we are the best, feel best, act best when we are loved.

I am Love Logo

I Am Love – Launch and Marketing Strategies

Social Media played the major role!

I Am Love’s consumers taught the startup how to convert them. What they would like to see in a product and what they thought was the gamechanger.

What has worked for I Am Love is Social Proof!

The team realized that their consumers liked real stories, getting in touch with real people! Who featured in the ads. I Am Love was so focused on that and knew that its products worked that the team initially only partnered with Influencers who had acne or skin concerns. The startup wanted their consumers to believe and few of them even went out of their way to give it deliverables or shout out when the product worked for them. I Am Love plans to continue doing that.

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I Am Love – Challenges Faced
- Convincing customers to share their progress, asking them to feature so as to help someone who was battling the same concerns.
- Convince consumers that this wasn’t a quick fix and for an effective solution they would need to be patient. The battle is still ongoing, but the team at I Am Love is determined to keep pushing.
Also Read: 10 Ways To Convince Someone to Change Their Mind

I Am Love – Funding and Investors

I Am Love raised INR 35 Cr from Xentel Investments in the seed round.

Date Stage Amount Investors

July 2021 Seed INR 35cr Xentel Investments

I Am Love – Future Plans

I Am Love is working on developing more intuitive research-backed products. The startup claims that its next product line is very exciting!

I Am Love – FAQs

What is I Am Love?

I Am Love was established with an aim of redefining the relationship we have with our health. It works in the Nutraceutical industry where the team would like to re-educate people about the saying “Let food be thy medicine”. Its products are to be taken orally to counter skin and health concerns.

Who is Shilpa Rathi?

Shilpa Rathi is the founder of I Am Love.

Is I Am Love an Indian company?

Yes. I Am Love is an Indian company headquartered in Mumbai, Maharashtra.

Has I Am Love raised any funding?

I Am Love raised INR 35 Cr from Xentel Investments in the seed round.
November 16, 2021

Startup Name	I Am Love
Founder	Shilpa Rathi
Headquarters	Mumbai
Founded	Early 2021
Industry	Nutraceutical
Website	iamlove.in

Tag: Healthcare startup

Tata 1mg Startup Story: An Online Drug Delivery Platform

1mg – Company Highlights

Tata 1mg – About and How it Works?

Tata 1mg – Logo and its Meaning

Tata 1mg – Founder and History

Tata 1mg – Mission

Tata 1mg – Business Model

Tata 1mg – Revenue and Growth

EBITDA

Tata 1mg – Funding and Investors

Tata 1mg – Acquisitions

Tata 1mg – Competitors

Tata 1mg – Awards and Recognitions

Tata 1mg – Challenges Faced

Tata 1mg – Future Plans

FAQs

What is 1mg?

Who is Tata 1mg founder?

Who is the CEO of 1mg?

How does 1mg make money?

Is 1mg an Indian company?

How do you order medication 1mg?

Does Tata 1mg provides franchise opportunity?

Healthcare Startups Helping Workplaces With Employee Well-Being

Top 9 Health And Wellness Companies

CircleCare

Visit Health

Resonea

The Pip

Buffer

NextJump

Wellable

Nova Benefits

eKincare

Final Takeaway

FAQs

What are the Top Health And Wellness Companies?

How to support staff wellbeing in the workplace?

How do you engage employees in wellbeing?

Top 14 Healthcare Business Ideas For Medical Entrepreneurs in India [2022]

Why You Should Consider Healthcare Business in 2022

Best Medical Business Ideas for Doctors in India

List of the top 14 Best Healthcare Business Ideas in India (2022)

Medical Transcription Services

Medical Records Management

Healthcare app

Medical Billing Service

Home Healthcare Service

Diabetic Care Center

Physical Therapy Center

Medical Supply Sales

Nutritionist

Childbirth Services

Fitness and Gym Centre

Virtual doctor services

Aerobics Centre

Retail Pharmacy

Conclusion

FAQs

What is the healthcare business in India?

What are the medical business ideas for 2022?

What are the best future business ideas for healthcare?

What are the healthcare startup ideas?

StepSetGo – How it Makes Every Step Count?

StepSetGo- Company Highlights

StepSetGo – About and How it Works

StepSetGo Tools

StepSetGo – Industry

StepSetGo – Founders

Abhay Pai

Misaal Turakhia

Shivjeet Ghatge

StepSetGo – Startup Story | How was StepSetGo Founded?

StepSetGo – Vision and Mission

StepSetGo – Name, Logo and Tagline

StepSetGo – Business and Revenue Model

StepSetGo – Growth

StepSetGo – Customers/Clients Acquisition

StepSetGo – Partnerships

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