Corporate Updates

Docprime gets fund of worth $50 mn from parent Policybazaar Group

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The telemedicine platform Docprime.com has received an internal funding of $50 million (about Rs 3.62 billion) from its parent company Policybazaar Group.

Docprime.com, which allows users to book appointments with doctors and labs through its platform, would use the fund to enhance its technology capabilities.

While docprime.com allows users to book appointments in Delhi-NCR, it also plans to make the facility available across all major cities, including Mumbai, Bangalore, Hyderabad and Chennai, the company said in a statement.

“We intend to use the capital in providing seamless user experience and bringing innovation in the healthcare space. Our focus is to make the services more customer-friendly driven by transparency, trust, and sustainability,” docprime.com CEO Ashish Gupta said.

He added that the company is bringing in innovation through the use of various new-age technology tools like artificial intelligence (AI), data science and deep analytics.

Healthcare sector has a lot of untapped potential and currently, the services are not affordable and accessible for all. With rising out-of-pocket expenses, there’s a need to provide quality healthcare at competitive prices that can be accessed by anyone, anywhere,” Yashish Dahiya, CEO and co-founder of Policybazaar Group of Companies, said.

Docprime is the third venture of the Group, which already owns insurtech (insurance-technology) player PolicyBazaar.com and lending marketplace, Paisabazaar.com.

Earlier this year, Policybazaar had received a $238 million funding, led by Japan’s SoftBank Group and its existing investors.

 

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