Mumbai-based health tech startup DrStore has raised an undisclosed amount of funding in a pre-series A round from Equanimity Ventures. The startup plans to use the freshly raised capital to expand its operations to more geographical locations and develop its technology. It will further use the funds to hire more talent.
Founded by Neeraj Katare and Sukhendu Patnaik, DrStore is making pioneering efforts to bring Group Purchase Organization model in the Indian hospital space with a focus on mid-sized hospitals specifically in Tier 2-3 towns. DrStore has been striving to bring quality products and services to all segments of healthcare service providers.
Commenting on the development, Rajesh Sehgal, Managing Partner of Equanimity, said, “DrStore brings the purchasing power of large organizations to small and mid-sized hospitals using deep technology and industry expertise. This is changing the industry landscape by bringing in procurement efficiencies, reducing costs and helping local hospitals have a wider and deeper impact. DrStore is backed by a rock-solid team with decades of experience and Equanimity is excited to work with them to turn their dreams into reality.”
DrStore provides clinical diagnostic equipment, rapid diagnostic kits, hospital supplies, surgical kits, medical implants, home healthcare solutions, point-of-care devices, disposables, and self-care devices among many other products.
Equanimity is a venture capital fund investing in early-stage technology-enabled startups. It is a sector agnostic fund. Dr Mark Mobius, a fund manager and one of the most prominent voices on emerging market investments, is an investor and part of the investment panel of Equanimity.