Indian Healthtech Startup Phablecare Raises Investment From Kalaari Capital

within a year after receiving Series A investment, Bengaluru-based Indian healthtech Startup PhableCare has received Rs 187 crores in Series B fundraising. Kalaari Capital led the investment, which included Aflac Ventures, Digital Horizon, and Stride Ventures. Omron Ventures, SOSV, Social Starts, and Fresco Capital were among the existing investors in the round.

PhableCare’s technology is currently used by over 3 million patients, 10,000 doctors, and over 1000 pharmacists, making it the industry leader in this category. PhableCare’s strong expansion in 2021 will be bolstered even further by this additional investment.

PhableCare’s valuation has increased by 6 times in a short period of time as a result of this fundraising round. This investment will be used to expand the company’s full-stack and value-driven chronic care ecosystem, as well as to accelerate market development, customer acquisition (doctors and patients), brand building, and revenue generation.

PhableCare intends to consolidate its dominance in the category by acquiring additional competitors through strategic investments. The business has set aside funds and acquired more venture loans to invest in other health-tech startups that have the potential to expand the capacity and capabilities of the healthcare ecosystem.

“Over the next two years, our goal is to get the technology to 30 million or more Indian households and 100,000 or more super-specialist doctors in India, capturing 25% of the market.” In addition, we will continue to develop technologies to further connect the healthcare system and players,” stated Mukesh Bansal, co-founder.