Amidst coronavirus, Healthtech startup, Phable raises $1million in its pre-Series A funding round participated by Inflection Point Ventures (IPV) among others. Previously, in the same round two US- based funds SOSV and Fresco also invested in the company. The raised amount will be used in expansions as well as enhancing the technology.
Phable was co-founded by Sumit Sinha and Mukesh Bansal in 2018. They have created a massive network of patients, doctors, health devices, insurance and patient-care services. Through their network, Phable has helped approximately 50,000 patients with their network of over 700 doctors. They are currently present in Bangalore, Hyderabad and Chandigarh.
To help the doctors in the current pandemic, they are allowing the doctors to use their platform to track health of their patient and guide them. They started with the vision to drive better and cheaper healthcare for patients. They intend to reach 1.3 billion Indians in 5 years.
IPV believes in the company’s initiative, vision and potential. They have confidence in company’s product and that is can reach a huge market. IPV has been an active investor even in this situation and has invested in 10 companies since the beginning of this year. Phable also plans on expanding itself in 12 cities by the end of this year.