Health tech startup Idea Bubbles has raised a Pre-Series A round of Rs. 4.5 crore led by the IvyCamp platform.
It has developed 'Eureka Forbes Good Health' (EFGH) platform that enables doctors to offer patients tele-consultation services underpinned with several offerings such as digitized medical records.
Idea Bubbles has over 12,000 patients and 600 doctors on its roster and has completed 1,000 transactions. This fund raise was facilitated by IvyCamp, a Unified Innovation and Entrepreneurship Platform, that leverages the Global Alumni Networks to help entrepreneurs become successful.
Eureka Forbes was one of the key investors which participated in this round facilitated by IvyCamp. In addition to being an investor, Eureka Forbes will also contribute to the start-up in form of operational and strategic guidance.
It will work with Idea Bubbles across their sales, distribution, operations and brand building functions.
"Idea Bubbles is making on-demand tele-consultation with expert doctors mainstream under the brand Eureka Forbes Good Health (EFGH). IvyCamp helped us bring in Eureka Forbes as a strategic investor who is helping us build a differentiated healthtech story by enabling us to leverage the brand and the wide distribution reach of Eureka Forbes field force," said founder Idea Bubbles, Gururaj Potnis.
"Eureka Forbes, as a leader in health and hygiene consumer products with over 10 million customers including 1.62 lakh doctors, sees big potential in the healthcare enablement sector. With India having a very low doctor-patient ratio, Eureka Forbes Good Health is a powerful and convenient enabler of family health services and health data management for individuals and also, all employers keen to improve their employee productivity," said CEO of Technology and Corporate Development Eureka Forbes, Dr. Raman Venkatesh.
"Our success in aiding Idea Bubbles raise a significant round with support from eminent corporate such as Eureka Forbes reflects our dedication to expanding our expertise to disruptive business that will redefine the landscape," said Co-founder and President at IvyCamp, Anju Gupta.
"The USP of IvyCamp is the cutting-edge skills of the investment team, and mentorship of the Global alumni networks from Institutes such as the IITs, IIMs, ISB, BITS, and many more which we expect will play a more active role - both as mentors and entrepreneurs - in the coming years," added Anju Gupta.
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