ekincare raises $3.6 mn in funding

Health benefits start-up ekincare on Wednesday said it has raised USD 3.6 million (about 25.8 crore) in funding round from investors like Venture East and Eight Roads.

The round was led by a new investor (whose name the company did not disclose), with participation from existing investors including Venture East, Eight Roads and Touchstone equities, a statement said.

The latest round takes the total funding raised by ekincare to USD 5.6 million, it added.

The funds will be used to strengthen ekincare's technology platform, business development, marketing and expand its portfolio of offerings in the corporate health benefits market, the statement said.

Currently, ekincare caters to over 200 companies, managing health of more than three lakh employees on its platform. It offers preventive health services like telemedicine, e-pharmacy, health checks, vision and dental care, access to gyms, and other services.

Citing a report by Transparency Market Research, the company said the corporate health market size in Asia Pacific was valued at USD 4.5 billion in 2018 and,is expected to grow at a CAGR (Compound annual growth rate) of 9 per cent over the next 10 years.

"Our patent pending technology recognises patterns across disparate health data sets, discerning differences between consumer segments and behaviours to engage people better," ekincare founder and CEO Kiran Kalakuntla said.