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Startup Funding 2015-07-27

Home healthcare start-up Zoctr raises $1 mn from SPA Capital Group, Organic Wellness & others

Mumbai-based start-up Zoctr, which offers home-based wellness packages online, has raised second round of funds from angel investors in span of three months.

Home Healthcare start-up Zoctr that allows users to buy health-related services and home-based wellness packages online, has secured US$1 million from angel investors.

This was the second round of funding raised by Zoctr from Sandeep Parwal, Founder of SPA Capital Group, Organic Wellness' Founder Krishan Gupta and others including former Ranbaxy Executives Anil Khandelwal and Arun Purohit confirmed a press release.

"Zoctr is a disruptive home healthcare concept with unlimited potential. With the right customer acquisition model and execution capabilities, it can revolutionise the healthcare delivery model in India and globally," said Sandeep Parwal, founder and MD of SPA Capital Group.

Earlier, Saxena’s contracted research firm Karmic Lifesciences got acquired by a multinational company Cliantha Research in January 2015. This move has forced her to jump into the Home Healthcare industry. And within months, she has started yet another venture ‘Zoctr’ and raised first round of seed funding from a group of angels including Rajeev Agrawal, partner at Ambit Pragma Ventures.

"This is an exciting time to be a start-up and even more exciting to be in the healthcare domain where the macro-economic drivers and technology application are both highly conducive.
We look forward to an action-packed journey to scale in the next few years – our aspiration is to be the Flipkart of healthcare," said Nidhi Saxena, founder and CEO for Zoctr Health.

Reportedly, Zoctr will use the second round of funds to expand its services in Delhi-NCR and for partnering with hospitals and ICUs across Delhi and Mumbai, of course apart from enhancing the hiring and training activities within the firm.

The services fall under Zoctr’s portfolio of home-based medical services, including long-term intensive care, chronic care, health check-up and others. It also provides services such as tele-consulting, home laboratory pick-ups, online pharmacy and emergency management support.

The healthcare start-up also wants to add over 20,000 doctors and health service providers with an aim to servicing five million Indians over the next few years, informed the company.

Home healthcare is an emerging space within the overall wellness space. Another funded startup is Portea Medical, which has raised $8 million from Accel Partners and Ventureast.

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