Kochi-based Startup Attracts Prominent Investors to Drive Affordable and Transparent Digital Healthcare Solutions for India’s Middle-Class Segment
Mykare Health, a digital health startup based in Kochi, has successfully raised $2.01 million in a seed funding round. The round attracted participation from prominent investors, including OnDeck ODX – US, Avaana Seed, Huddle, Endurance Capital, F Health, VeritasX, Stanford Angels, Phoenix Angels, Nitish Mittersain (Joint Managing Director, Nazara Technologies), Hari TN (Ex-BigBasket), Arjun Vaidya (Founder, Dr. Vaidya’s), Sean (Hyunil) Sohn (CEO, Krafton), Niraj Karia, Ankit Tandon (Global CBO and CEO, OYO), Nikhil Jaisinghani (Executive Director, Polycab India), Dr. Deepu Sebin (Ex-CEO & Founder, DailyRounds), Vikas Garg (Ex-CFO, Paytm), Rahul Nagar (Ex-VP, Paytm), Himanshu Arora (Ex Gaana), and Bhavya Shah – MD, Ark Impact, among others.
The funding will be utilized by Mykare Health to enhance the overall patient experience and strengthen its talent acquisition efforts. Founded in 2021 by Senu Sam, Rahmatulla TM, and Joash Philipose, Mykare Health aims to establish an asset-light, affordable, and standardized hospital network that focuses on delivering quality healthcare experiences to India’s middle-class segment.
Senu Sam, CEO & Co-founder of Mykare Health, highlighted the challenges faced by patients, such as the lack of administrative and pricing transparency, rising healthcare costs, low patient to hospital ratio, and limited access to quality care. Mykare Health aims to address these issues through a patient-first approach. Sam stated, “We are committed to serving every common, middle-class person in India and beyond, ensuring a seamless experience with affordable and quality care. Additionally, we empower small and mid-sized hospitals to enhance their visibility and trust, thereby strengthening their patient footfalls. With the right support, these hospitals can significantly reduce India’s uneven patient to hospital ratio.”
In 2023, the startup plans to expand its presence in South India, focusing on improving the healthcare experience and transparency for the low and middle-income groups. Sanil Sachar, Founding Partner of Huddle, expressed strong confidence in Mykare Health’s growth potential, emphasizing its purpose-led proposition for the middle-income segment and small to medium-sized hospitals. Sachar added, “By prioritizing quality, accessibility, and transparency, Mykare Health is poised not only to penetrate the Indian market comprehensively but also to make a global impact.”
Over the past year, Mykare Health has treated more than 85,000 patients and has established operations in over 12 Indian cities through partnerships with over 200 hospitals. The startup has received recognition as the TiE Kerala Best Startup of the Year, SLP Best Startup of the Year, Headstart 23 Startups to Watch, KMA Best Startup of the Year, Inc42 Best Startup to Watch, Naturals Best Startup, and Business Connect Best Startup in 2023. Senu Sam, the founder, has been honoured with the Times 40 Under 40 Award.