MFine, a Bangalore-based on-demand healthcare platform, raises $48M Series C co-led by Moore Strategic Ventures and BEENEXT, sources say at a $450M+ valuation
BENGALURU: Moore Strategic Ventures and BEENEXT led a $48 million Series C funding round for MFine, a digital healthcare platform.
The round also included participants from Stellaris Venture Partners, SBI Group Japan, SBI Ven Capital Singapore, Heritas Capital, Prime Venture Partners, Y’S Investment Pte Ltd., and Alteria Capital.
The company plans to utilize the profits from the latest round to increase its diagnostics, hospital, and e-pharmacy networks across the nation, as well as develop technology-driven care delivery solutions that cater to chronic and acute diseases.
The company has received $16 million in an investment round that was led by Heritas Capital earlier this year.
The current round of fundraising for the company is likely to be valued between $500 million and 450 million, people who were aware of discussions told Mint.
The four-year-old company is a health platform on demand that allows users to access online consultations with physicians through video or chat formats. The app allows users to schedule routine lab tests, order medicine delivery, and access comprehensive health services.
“The world is moving toward a new standard in the health sector, and India is also adopting digital health.” It is our intention to continue investing in advanced technology that will transform any smartphone into a medical companion for users and a decision-support tool for all doctors. “We’ll also be trying to expand our presence across India and provide our services to the world at large,” said Prasad Kompalli, chief executive officer and co-founder of MFine.
Since its inception, MFine claims to have provided more than 3 million customers with more than 300,000 transactions per month. These include consults with doctors as well as diagnostic tests, e-pharmacy, and patient procedures.
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