Health-tech Start-up eKincare Secures Series A funding
Hyderabad-based eKincare, India’s first integrated healthcare benefits platform driven by Artificial Intelligence (AI), has announced today that they have secured an undisclosed amount of Series A funding. The investors involved in the round includeVentureast, Endiya Partners, Eight Roads,Bitkemy Ventures, andPadma Shri BVR Mohan Reddy.
eKincare’s AI powered personal health assistant reads medical data from health records and various healthcare interventions, predict health risks and provide timely personalized recommendations to beat those risks.All one has to do is take pictures of the physical medical records and eKincare will do the rest; it’s as easy as taking a selfie!
The incredible success of eKincare in a short span of time stems from the fact that it has developed a world-class product that is disrupting the way ‘employee health spends’ are perceived in organizations across India. Through its deep understanding and usage of technology, data science and curated services, the start-up has successfully assisted organizations to reach their optimal health and save on healthcare costs; thereby helping them become more strategic and efficient in their employee benefits spend.
Trusted by fortune 500 companies, like Optum, Unilever, Barclays and Disney among others, eKincaretoday has strategic partners in over 2000 locations across India.As India’s only end-to-end integrated healthcare solution, with the ability to collect, structure and provide meaningful insights, eKincare is also adding value to insurance through quicker and efficient decision making, data-driven underwriting of risk, reduced costs, minimised fraud and errors through automation.
Speaking on the occasion, Kiran Kalakuntla, Founder & CEO, eKincare said, “We have seen a lot of interest from corporates to leverage our platform for their employees, keep track of the overall organization's wellness metrics and maximize the ROI out of their wellness budgets. We have defined and established the need for an enterprise-level platform that delivers an unparalleled personalized experience for corporates, employees and consumers at large and help them achieve and sustain their optimal health.”
“The current round of funding will be used to grow and expand our technology platform and sales team and also get more doctors onboard. We are committed to providing effective and intelligent solution to healthcare system in India and contribute in developing a healthy ecosystem overall”, added Kiran
Commenting on the announcement, Srikanth Sundararajan, General Partner,Ventureast said, “We constantly invest in disruptive start-ups that aim at addressing a larger market or consumer related challenges. eKincare is leading the predictive digitization of health-care that can help us take control of health outcomes while minimizing recurring costs.We are confident that the team will cement strategic partnerships, and continue to lead the ‘predictive diagnosis’ space through technology innovations.”
Amongst the top Indian startups selected by Swiss Re for its first ever global accelerator program, eKincare received a no-obligation grant of $15,000 to further develop its product. Winner of the prestigious Uberexchange program, the company was also featured in the Global Digital Health 100 Award List by The Journal of mHealth.
“We have always been a strong advocate for technologies that will help build a better tomorrow. As the healthcare sector continues to evolve, we believe, eKincare is on the right path to addressing the current challenges in the sector through technology and innovations.”saidDr.Ramesh Byrapaneni, Managing Director,Endiya Partners.