LifCare bags $11mn from Saif Partners, Nexus Venture partners led round

Healthcare startup LifCare has raised $11 million in its Series B led by Saif Partners & Nexus Venture partners. With the infused capital, the startup which delivers till now delivers only medicines meant for chronic illnesses to customers who take these medicines regularly, will now look to expand further in Northern and central states of the country.

Moreover, apart from just delivering medicines, the company now aims to become a one stop for chronic patients and raise awareness on the necessity of taking medicines to stay fit. LifCare works on the concept of subscription pharmacy and serves patients with chronic illnesses like diabetes, hypertension and more.

“Starting from lab tests to many such additional requirements which becomes tenious for a chronic patient. We look to expand our suite of services to become a full-service disease management platform for chronic patients” said Krishna Killa, co-founder of LifCare. Post funding, LifCare will be providing end to end services that chronic patients need to manage their diseases better.

The healthcare startup had earlier raised a seed round followed by Series A which altogether summed upto $6million in 2016.

Founded in 2015, the company currently employs around 500 people and will look to expand the team further along with its geographical expansion.

Venture capital funding in digital health sector reached a record high of $4.9 billion in January-June, 2018 as global tech giants expanded their presence in the space, according to communications and research firm Mercom Capital Group llc.

To add, the first half of 2018 has seen an overall flow of $3.6 billion through investments made across 411 deals in startups.