Healthtech startup MFine has raised $48 million in a Series C funding round co-led by Moore Strategic Ventures and BEENEXT. The funding round also saw participation from existing investors Stellaris Venture Partners, SBI Group Japan, SBI Ven Capital Singapore, Y’S Investment Pte Ltd., Heritas Capital, Prime Venture Partners, and Alteria Capital.

With the raised funds, the healthtech startup now aims to build one of the largest virtual hospitals in the world and make high-quality healthcare more accessible and effective with the use of AI and mobile technologies.

The newly raised round will help the healthtech startup extend its leadership in digital health with investments into expanding its diagnostics, hospital, and e-pharmacy network across the country. Moreover, the raised funds will help the startup in building tech-driven care delivery products for both acute and chronic conditions patients. 

MFine | Online Consultations And At-home Lab Tests To Medicine Delivery And Scans

Launched in 2017 by Prasad Kompalli and Ashutosh Lawania, MFine is a Digital healthcare startup offering online consultations, at-home lab tests, medicine delivery, and scans, making access to trusted healthcare simple, fast, and effective.

Speaking on the recent development, Prasad Kompalli, CEO and Co-founder of MFine, said,

“We will continue to invest in deep tech to transform every smartphone into a health companion for consumers and a decision support assistant to all doctors. We will also be looking to expand our network across India and make our services available widely. We are very excited about the future of digital health in India, and we look forward to working with our partners, investors and the government to build and scale this further.”

Growing at 15% month-on-month, MFine currently has over three million users and claims to be clocking over 300,000 monthly transactions. In early 2021, MFine raised $16 million in funding led by Heritas Capital and also launched an app-based SPO2 (blood oxygen saturation) monitoring tool, enabling users to keep track of their oxygen saturation levels without needing an additional device.

The healthtech startup is investing heavily in technology to make the telemedicine experience significantly effective and easier for quality care delivery. 

For more stories of startups, click Startup Stories.

Follow us and connect with us on Instagram, Facebook, Twitter and LinkedIn.