Mfine, a health-tech startup focused predominantly in Artificial Intelligence recently raised a Series A funding round of $4.2 Mn led by Prime Venture Partners. This round of funding also saw the participation of existing investors such as Stellaris Venture Partners and Mayur Abhaya who is also an entrepreneur in healthcare.
This is the second time that the company is raising funds, having previously raised $1.5 Mn from Stellaris Venture Partners in September 2017.
The funds raised will serve the purpose of building the hospital networks across cities while strengthening the team behind the manufacturing of the technology. It is also targeting making over 1-lakh consultations coming end of 2018 and sign partnership deals with 50 additional hospitals in India.
Mfine saw the day in December 2017 from former Myntra executives Prasad Kompalli and Ashutosh Lawania. The duo operated as Chief Business Officer and co-founder respectively. Former Myntra CTO Ajit Narayanan and Arjun Chaudhary, former head of Digital Marketing at Myntra also joined the team of mfine.
The startup specializes in offering patients online consultations and care programs from different hospitals such as Cloudnine Group, Ovun Hospitals and Femiint health to increase its reach of patients and provide standardized care to its patients. Through the use of Artificial Intelligence (AI), Mfine hopes to improve the productivity of doctors while delivering quality diagnosis.
The health-tech company provides its patients with examinations, sample collections for lab testing and order of medicine from the user’s place. It also keeps track of medical records, sends health reminders and updates generated from the AI’s data. It also keeps track of the medical conditions of its users.