A report by Nasscom clear;y states that Indian healthcare IT market was at $1 billion in 2016 and is projected to grow 1.5 times by 2020. In this market, the recent development is that a data analytics and clinical research startup The Healthy Billion has raised $2.1 million in a funding round led by venture capitalist Blume Ventures and Heathquad, a company statement revealed.
In the funding round Fireside ventures, Apoorva Patni and Arpan Sheth individual investors also took part.
In 2015, the Gurugram-based health-tech startup was founded by Akansh Khurana. The other co-founders are Rajesh Pachar, Rohit Kumar, and Gagandeep Singh. The company uses its technology to automate data analytics for healthcare companies and it also helps in providing personalised health care to patients. The data analytics also helps pharmaceuticals companies in clinical research and doctors in patient analytics. The company uses LIONICS and ICD code to provide authentic data in real time. The company plans to use the raised funding to expand its technical team.
Khurana said, We have partnered with some of the leading healthcare providers in the country to drive clinical intelligence, and have a strong set of investors and mentors supporting us in the path ahead.
The company leverages technology to automate analytics for healthcare providers. THBs products integrate with multiple IT systems at a given provider, creating a coherent view of the providers datasets, offering the ability to run seamless analytics.
In 2016, the company raised funding from Ajith Sukumaran and Currae Healthtech fund.
Recently a health-tech startup eKincare has also raised funding of $1.5 million in Series A round led by Ventureast, Endiya Partners, Eight Roads Ventures and others.