Kenko Health, a healthcare provider, has raised $12 million as part of its Series A funding round led by Sequoia Capital India. The funding round also saw participation from existing investors Beenext, Orios, 9Unicorns and Waveform.

As per the startup, the raised funds will be used to acquire customers, develop new products and strengthen its talent base.

Kenko Health | Affordable Health Subscription Plans

Founded by Aniruddha Sen and Dhiraj Goel in 2019, Kenko Health offers a subscription-based service that covers healthcare expenses across OPD and hospitalisation. The startup partners directly with Health & wellness services providers that guarantee services to its members in exchange for a recurring monthly payment.

As part of its OPD coverage, the insurtech startup covers costs of doctor visits, medicine expenses, diagnostic tests, and more. 

Speaking about the development, Aniruddha Sen said,

“The new funds will help us expand our channels and to ramp up growth in the coming months. We hope to add both affordability and accessibility to quality healthcare in India with our tech-enabled solutions.” 

As per the startup, their plans have been designed for middle-income households in tier-II cities, where health insurance coverage continues to be low.

Offering monthly payments, instant benefits, wide coverage and competitive pricing for its plans, Kenko Health has over 50,000 users across India. With a presence in 40 cities, including Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, Nagpur, Indore, and Lucknow, the insurtech startup aims to gain 250,000 new users by the end of March 2022. 

Anup Jain, Managing partner at Orios Venture Partners, stated that Kenko identified a huge white space in the healthcare finance space, overlooked by incumbents for years with innovation in OPD as well as a refreshing take on health benefits settlement.

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