Dermatology consultation platform Remedico secures $500K in seed round
Remedico, the mobile-based dermatology consultation platform, has secured $500,000 in a seed round from Venture Catalysts, an integrated incubator and accelerator platform.
The round has also seen participation from other investors including US-based Parkview Investment Advisors, Vida Ventures, and several angel investors like Anshumani Ruddra (VP of Product at Hotstar, ex-VP of Product at Practo), and Rohini Pandhi (Product Lead at Square).
Dr. Apoorv Ranjan Sharma, President and Co-Founder, Venture Catalysts, said, “Skin and hair care in India is approximately $7 billion industry, and will achieve more than $10 billion in valuation over the next two-three years, with a projected 20-25 percent online penetration. Given this landscape, Remedico’s mature product and service offering and strong technology-driven infrastructure places it in good stead to lead this market.”
Remedico was founded by Ranjit Bhatia in 2017. It is an end-to-end mobile healthcare company, allowing young people to solve their critical health problems, as they move through adolescence and early adulthood.
The Bengaluru-based company’s present focus is on dermatology, with its doctors treating conditions like acne, hair fall, and pigmentation.
Ranjit Bhatia, Founder of Remedico, stated, “This investment has validated our belief in the need and viability of Remedico’s core proposition. From app-based consultation to developing a robust product ecosystem, we have an exciting vision with Remedico that will benefit from investors such as Venture Catalysts and Parkview, not only in terms of capital but also the expertise and mentorship they provide.”