Healthcare Startup, BeYouPlus Bags $3.2 Million in Series A Funding Round
- BY Jaspreet Kaur
Feature Writer, BusinessEx
- Nov 04,2019
- 10 Mins Read
Innovative and fast-increasing healthcare online platform, BeYouPlus has proclaimed to have collected $3.2 million in Series A funding round. IvyCap Ventures led the funding round along with other investors---Madison Capital and Singapore Angel Network, among others.
The Gurugram-headquartered firm is primarily a consumer brand that performs day care procedures, concentrates on delivering clinical excellence, accessibility and affordability through a nexus of co-managed and branded procedure rooms at nearby specialty clinics.
“We remain focused and committed to bringing global gold standard medical procedures to the Indian masses at an affordable price point. Having personally spent over 14 years in the healthcare industry, we understand the challenges doctors and patients face. It is our firm belief that the answer to India’s lack of healthcare infrastructure rests with a standardized distributed model for daycare and elective medical procedures. Our model improves the efficiency of private practitioners whilst providing healthcare consumers a quality-assured, and reliable service provider,” Ankit Khurana, Founder and CEO at BeYouPlus, said in the company’s official statement.
Separately, Vikram Gupta, Founder and Managing Partner at IvyCap Ventures said, “BeYouPlus is addressing critical issues of accessibility, transparency and standardized treatments in Indian healthcare with the help of technology. We believe that with this round, BeYouPlus team shall lay down a strong foundation for its next phase of growth towards achieving massive scale.”
As part of the deal, Vikram Gupta, Founder and Managing Partner of IvyCap Ventures, will be commissioned at the board of directors at BeYouPlus.
Soaring Day Care Procedure Market in India
The day care procedure market in India is expected to grow to $12 Billion with an estimated 40 million procedures by 2022. There has been a tremendous growth of neighborhood day care centers in the western markets, whilst in India, the concept is at its nascent stages. As consumers' spending on healthcare increases, the average spend on healthcare by an Indian household is expected to double by 2022. This opens up a large opportunity for innovative new companies to bridge the gap between supply and demand and ensuring improved outcomes using technology, as stated in the company’s official statement.
Considering this market, BeYouPlus has created a unique model rendering highly skilled specialist doctors with a turn-key solution. Through this solution, the doctors can add more procedural skills to their existing OPD practice.
The company administers high-quality services and immensely surge footfalls at the clinic by ensuring customers of good quality, transparent and affordability at a reachable nearby clinic. Presently, it offers Dermatology services meeting dermatological and aesthetic needs, as well as plans, to expand their business model to other related specialties in the offing.
The healthcare firm has earlier obtained funds in a seed funding round from Ganesh Ventures, Cybercarrier and other angel investment firms encompassing Daljit Singh, Former President at Fortis Healthcare.
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