Home based healthcare aggregator Zoctr gets backing from NB Ventures
Online health-related services startup and home-based wellness packages, Zoctr has raised an undisclosed amount in a pre-Series A round of funding from Dubai-based NB Ventures Ltd, a company statement said.
A host of angel investors including Udaipur Angel Network also participated in this round.
With this round, the total funds raised by the company has crossed $2 million, the statement added.
Zoctr will use a significant portion of this funding to build deeper technology and domain expertise, the press note said.
The startup also plans to add electronic health dashboard as well as remote monitoring features to its recently launched mobile app. Besides, it intends to enter the home cancer care and chemotherapy market soon.
Founded in January 2015 by Nidhi Saxena, Zoctr aggregates a portfolio of home-based medical services, including long-term intensive care, chronic care, health check-up and others. It also provides services such as teleconsulting, home laboratory pick-ups, online pharmacy, emergency management support, medical equipment and ambulatory support.
“Home healthcare is a huge market and we are in it for the long haul. Rather than pursue senseless growth with huge cash burns, we are focusing on creating a highly differentiated niche play around cancer care, particularly home chemotherapy as well as leverage technologies such as remote monitoring, IoT etc. to add value to the customer,” Saxena, Zoctr’s founder and chief executive, said.
The company claims to have served more than 5,000 patients and has aggregated over 3,500 blue collar workers so far across India.
“We find Zoctr’s business model and vision of an integrated cancer homecare company compelling. Home healthcare being a huge but still evolving market, we believe Zoctr can earn a fairly niche positioning,” Neelesh Bhatnagar, director NB Ventures, said.
Zoctr is in the process of creating a pan India database of qualified and registered blue collar workers including nurses, attendants, baby care nurses and nannies on the backend of its app. The company said it is currently in advanced stages of discussion with a few venture capital funds in India and abroad to close a larger $3-5 million Series A round.
NB Ventures is a $50-million Dubai-based fund. In January this year, it participated in a $3-million funding round into online fraud detection platform IDfy.com. The fund’s other notable investments include fitness startups HealthifyMe and MobieFit, transportation firm TempoGO, home tutor provider Qriyo, and logistics startup LetsTransport.