Corporate Updates

Healthtech startup PlusPin raises Rs 5.25 cr in seed funding

PlusPin Healthcare

Healthtech startup PlusPin Healthcare has raised Rs 5.25 crore ($708,720) funding from a series of investors of Indian Angel Network, World’s largest seed-stage investment network.

dIgitalhealth

Prominent IAN investors such as Sanjay Jesrani, Dr Vinay Tulla, Dr Kiran Peddi, and Mr Rajan Anandan, among others, participated in the funding round.

Started in September 2017 by Gopal Krishna Panigrahy and Santosh Kumar Panda, PlusPin the healthtech startup operates under the aegis of Weeclu Solutions Pvt. Ltd.

Also read: Mumbai-based startup Innovcare Lifesciences raises $6.4 mn

dIgitalhealth

Speaking on the need-gap the start-up is addressing, Gopal Krishna Panigrahy, Founder – PlusPin Healthcare was quoted as saying, “Today, the independent pharmacies have two options available to them to increase their earnings – expanding their consumer base or increasing margin on prescription/OTC products. However, the rise of the online pharmacy chains and the restrictive regulatory framework render these options ineffective.

“At PlusPin Healthcare, our goal is to help them engage and retain more customers by empowering their entrepreneurial vision. Our tech-based platform and data-driven social intelligence will establish them as healthcare points,” Panigrahy added.

“We will leverage the capital infusion to scale to key target cities, strengthen our tech infrastructure, and augmenting customer engagement and experience,” Santosh Kumar Panda, Founder, PlusPin said.

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