As part of venture analytics, we looked closely at Healthcare Start-up landscape in India recently. Am deliberately avoiding to call these start-ups as SaaS business for reasons mentioned in my earlier post.

Here is quick glimpse of methodology adopted.

We predominantly looked at Cruchbase + Linkedin platforms. Since most of the data is sourced from Crunchbase and LinkedIn, so some of the start-ups (EuorHealth, Doctor24X7 etc.) have been missed out due to their lack of presence on such platforms.

We also focussed on start-ups based out of India which are mainly working in Healthcare technology space. This criteria rules out two sets of companies straight away.

  1. Companies registered in USA/Singapore and having strong presence in India e.g. Praxify, Attune, etc.
  2. Companies which are managing network of hospitals and have technology arms e.g. Vaatsalya

Obviously, this is not final list , still should give really good starting point on understanding Healthcare market in India.

At this moment, there are around 60 healthcare start-ups in India out of which 21 are backed by VCs in some form – either seed or Series A/B funding.


As expected, most of these start-ups came into life over last few years. While, number peaked during Year 2012 – 2014 with over 30+ companies being founded. Number dropped to 5 in 2015  attributing tough funding environment.


Category-wise distribution shows interesting trend with 14 companies each in Wellness and Appointment tracking space. Appointment tracking allows patients to book appointments and helps doctors in manage their schedules. It is followed by 8 companies each in Content/ Practice Management space. Content is about healthcare related information making accessible to patients. Practice Management generally acts as natural extension of Appointment tracking functionality. While there are niche players like mapmygenome or newdigm (Social Healthcare), focus seems to be on ‘low hanging fruits’ – problems solved by direct application of technology rather than requiring deep domain knowledge in specific therapeutic areas.


Funding patterns follows similar model where almost 50% of the investments have gone to Appointment tracking/Wellness/Practice Management space. Practo, Lybrate, Portea Medical, Forushealth dominate most of the funding space.


Most of the companies in Healthcare space are early phase , with almost 40 companies having 11-50 employees on roles.


Most of the VC investments have also came in companies with 11-50 employees.


It is still early days of consumer technology application in Healthcare space in India. Competitive landscape for these start-ups includes local players, technology savvy-hospital chains as well as global companies like GoQii in Wellness. At this moment, major focus appears to be on consumerization of healthcare like connecting both ends of medical value chain – Consumer(Patient) to Providers(Doctors).

Healthcare market is huge , so are the challenges due to fragmented/localized nature. It will require deep domain expertise as well as some ingenuity on part of these companies to make measurable difference overall.

Interesting times are ahead for sure. Watch this space.

*If you require data sheet backing above analysis, would be happy to share. Drop me a note.