mfine raises $4.2 mn from Prime Venture Partners, others

Health-tech company mfine today said it has raised USD 4.2 million funding led by Prime Venture Partners.

Existing investors Stellaris Venture Partners and Mayur Abhaya (CEO and MD of LifeCell) also participated in the series A round. Including the current round, the startup has raised over USD 6 million and has 50 employees in Bengaluru.

"We will use the funds to expand our network of hospital partners, our team and technology. Within the first five months of launch, our platform saw over 10,000 consultations and this year, we are aiming for more than one lakh consultations," mfine co-founder and CEO Prasad Kompalli said.

He added that the company is also working towards expanding to cities like Pune, Delhi-Gurugram, Hyderabad and Chennai this year, taking the number of hospital partners to 50-60.

mfine was founded in February last year by Ashutosh Lawania (Myntra co-founder) and Prasad Kompalli, a former business head at Myntra. The services were launched in December with mfine partnering hospitals instead of aggregating individual doctors on the platform.

Kompalli said mfine already has more than 15 hospitals in Bengaluru such as CloudNine, Aster, and Ovum on its platform, consulting with patients across nine specialties.

"Our platform ensures that users get access to doctors and other integrated experiences as they would when visiting a hospital as and when they need," he said.

mfine also plans to launch additional services like monitoring of vitals, collection of sample for lab tests and medicine delivery at home soon.

"We see a huge opportunity to bring the much needed, tech-driven transformation in the USD 50 billion primary healthcare delivery. With our deeply tech-driven approach and working with reputed providers, we are effectively creating a 'cloud clinic' where quality healthcare can be accessed on demand from anywhere," Kompalli said.