New Delhi, 31st July 2018: MyHealthcare, a digital integrated healthcare technology platform operated by Gurgaon based InnoCirc Ventures, has raised its Series A funding of US $2 million, led by Hunch Ventures and Ajay Nanavati, Angel Investor and Retired Managing Director of 3M India & Israel, also participated in the round. A digital healthcare company, InnoCirc Ventures has been founded by Shyatto Raha, Aneesh Nair and Divya Laroyia.
MyHealthcare, the company’s flagship product is a mobile healthcare ecosystem that enhances patient engagement and empowers them with their health care needs, through offerings such as EMR, health trackers, emergency services, video consult and 24×7 health monitoring, among others. The platform helps connect healthcare givers, hospitals, diagnostics, patients and their family and brings them into a digital ecosystem.
The platform is offered on a partnership model with hospitals, whereby MyHealthcare plugs in as the technology partner for the hospital network across all its patient-facing services. MyHeathcare’s vision is to use digital technology and data to improve patient outcomes and patient care.
“With a widening gap between the availability of doctors, specialists and the demand for such caregivers, we believe this gap can be bridged with data-driven healthcare solutions. Our platform works with hospitals, in enhancing their care solutions by transitioning the care process from paper to digital form. In the next phase we are working towards the use of AI & ML for predictive analysis, to aid caregivers in the diagnosis process,” said Shyatto Raha, Founder and Director of InnoCirc Ventures.
Shyatto further added, “Making healthcare easily accessible, affordable and ensuring accuracy of care is our single focus at MyHealthcare. The MyHealthcare SPINE works with its hospital network in ensuring the data acquisition is done on globally accepted standardised data forms, which will enable a collective patient care process, at affordable pricing.”
The platform has launched operations across India and is now expanding its services to Malaysia, Indonesia and Myanmar. One of India’s largest hospital networks, the Fortis Group of Hospitals are among its customers, along with others such as Cygnus Hospitals and PH Siloam Hospitals (Myanmar).
Mr Karanpal Singh, Founder and Managing Director of Hunch Ventures said, “India is one of the largest and poised to be the youngest population the world. Minimum social security and access to healthcare is going to be critical in the years ahead. MyHealthcare has developed a platform to deliver quality healthcare through the use of technology. Hunch believes in the team and its capabilities in building a digital ecosystem to make healthcare accessible to all”.
Mr. Ajay Nanavati, Angel Investor and Retired Managing Director of 3M India & Israel said, “Having spent many years building 3M’s healthcare businesses globally, the problem MyHealthcare is providing a solution to is very real. The challenge of post IPD patient care given the pressures on hospitalisation needs a robust, data driven delivery mechanism which MyHealthcare offers”.
Client Associates Investment Banking (CAIB), acted as the exclusive financial advisor to the transaction. CAIB is a part of Client Associates, the leading multi-family office firm.
Shyatto’s experience in business strategy spans the Indian Sub-Continent, South East Asia and the Middle East. He has been a broadcast professional for over 20 years, working with organisations such as NDTV Group, Astro Networks (Malaysia and Indonesia).
Shyatto created NDTV’s first services division, which launched and managed successful media business operations across Malaysia, Indonesia, Vietnam, Myanmar, Bangladesh, Dubai, Kuwait and India.
As an entrepreneur, he Co-Founded IndianRoots.com, an online retail platform offering the best of Indian fashion. Combining customer and digital experience, Shyatto focussed on building a mobile based healthcare ecosystem called MyHealthcare as its Founder. Shyatto is an alumnus of the Harvard Business School.
Aneesh is an alumnus of National Institute of Engineering and IIM-Ahmedabad and is a hard-core Information Security Practitioner.
He started his career and worked for over a decade with large enterprises automating factories & hospitals; implementing enterprise systems like ERP, SCM, MRP, CRM and HCM.
During the last decade in his various roles as CIO and CTO, he has delivered high availability Internet and eCommerce businesses, mobile applications and enterprise digital ecosystems. He has built teams and end-to-end technologies required to power eight eCommerce ventures.
He has won several industry accolades as Top CIO and CISO. During 2017, he has been awarded as India’s Technology Icon, CIO of the year, and is on the CIO Power List. He is also among the Top 50 eCommerce influences in India.
A media professional with 23+ years of experience in broadcast and digital content production and design, Divya was with the NDTV Group in various leadership roles.
From heading the News Operations team of 150 people across NDTV’s three flagship channels – NDTV 24×7, NDTV India & NDTV Profit to heading the design team as Chief Brand Officer at NDTV Worldwide, Divya’s strength lies in leading teams, understanding operations and having a strong aesthetic sense.
She has worked with clients across Malaysia, Indonesia, Vietnam, Myanmar, Bangladesh, Dubai, Kuwait, Sri Lanka and India, to help build brand strategies for their media and digital platforms. At InnoCirc Ventures, she leads the product design, brand strategy and platform strategy platforms.
Hunch Ventures partners with innovative and visionary entrepreneurs in building out their businesses. Hunch looks at capital efficient business models that use technology to improve customer experience.
Entrepreneurship, innovation and technologies the enable efficiency and ease to our daily living, is the core investment philosophy. Hunch works with founders in scaling their business by leveraging its global network and find synergise within its diverse portfolio.
Current portfolio of Hunch includes: Comprehensive Healthcare Systems (Healthcare, USA), Vmobo Inc (Retail, USA), Cloud Raxak (Technology, USA), GoodTimes (Media, India), Quintessentially Lifestyle (Retail, India), MyHealthcare (Healthcare, India), Empowertrans (Power & Technology, India), Vagupu (Education, India), SpotDraft (Technology, India), The Quorum (Hospitality, India), TalentNext (Media, India) and The Circle (Retail, India).