Hyderabad-based Karma Primary Healthcare Raises Undisclosed Funding
Karma Primary Healthcare, a Hyderabad-based healthtech startup, has raised an undisclosed amount in a Series A funding round from a consortium of investors, including Innospark Ventures, Innovative Directions, 1Crowd, Aanshi LLP and Social Innovation Circle, among others.
As per the startup, the freshly raised funds will be used for product development, developing referral programs and adding new revenue streams.
Karma Primary Healthcare | Bridging The Healthcare Divide
Founded by Jagdeep Gambhir, Karma Primary Healthcare is a Hyderabad-based rural-area-focused healthcare startup that provides real-time online video consultations and delivers healthcare to users via its facility-based, paramedic-assisted clinics.
The firm operates e-Doctor clinics in rural/semi-urban India, providing nurse-assisted online medical consultations by qualified doctors, diagnostic services and referral services to secondary/ tertiary care.
Speaking about the development, Jagdeep Gambhir, Founder and CEO of Karma Primary Healthcare, said,
“Access to quality healthcare should not be a privilege limited to urban areas. Digital innovations to bridge this healthcare divide presents a significant opportunity. Through last 8 years, we at Karma have honed the necessary skills and operating model to deliver primary healthcare to rural India. We look to expand our clinic footprint to 80 clinics in 7 states. We also look to create linkages with secondary and tertiary players to create a seamless patient experience. We are thankful to our incoming and existing investors that have shown faith in our business model, its impact and potential.”
Through these clinics, the firm provides clinical treatment, medicines and diagnostics and partners with other public health organizations for disease-specific programs like Covid, diabetes and others.
The healthcare firm aims to create an omni-channel healthcare delivery platform having multiple touch-points, including physical clinics, mobile-based solutions and referral linkages to improve transparency & efficiency and reduce information asymmetry in the healthcare system.
Commenting on the development, Deepak Verma, Operating Partner at Innospark Ventures, said,
“We believe Karma is addressing a significant challenge: how to provide longitudinal care, with specialist MD consultations as and when required, to rural populations, without expecting patients to travel for hours to access quality care. Over time, as Karma’s footprint continues to grow, the company will provide better diagnostics and care, for more diseases, at more affordable prices while substantially improving patient outcomes.”
In May 2023, THB (Technology l Healthcare l Big Data Analytics), an enterprise healthcare SaaS firm, raised $20 million in funding in a growth equity round. Also, Sukino Healthcare Solutions, a Bengaluru-based healthcare startup, raised $6.04 million (around Rs 50 crore) in a Series A funding round from Stakeboat Capital to expand geographically and diversify its services.
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