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Venture Capital | 9 June 2015

Milner, Google Capital To Invest In Practo Technologies

by Ahemad Shaikh
Milner, Google Capital To Invest In Practo Technologies
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Russian billionaire Yuri Milner and Google Capital alongwith existing VC firms Sequoia Capital and Matrix Partners are close to putting R400 Cr in healthcare technology startup Practo, valuing the company at around R2000 Cr.

Founded in 2008 by Shashank N D and Abhinav Lal, Practo offers an online directory of doctors that enables patients to search for a doctor and make an appointment. The directories are updated through Practo’s feet-on-the-street model. It derives its top-line from Practo Ray, which is sold to doctors.

Practo Ray is a subscription-based web software tool for doctors which provides automated appointment scheduling and storage of healthcare records including X-rays, files, prescriptions and billing.

Recently, it had acquired fitness management app Fitho Wellness for an undisclosed amount and has launched services like salon and spa bookings through its app.

Currently, it exists in 35 Indian cities with 1,50,000 doctors listed on its platform and its charges R12,000 to doctors as an annual fee for subscribing to its software which allows them to keep all records - including patient records - on the cloud, and also share those records online with the patient.

The company is planning to expand to geographies such as Southeast Asian countries as well as Latin America and parts of Middle East and North Africa through acquisitions.

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