Health platform Medikoe raises $100k in angel funding to fuel expansion

Medikoe, the Bengaluru-based online platform has recently raised $100,000 in angel funding from Anil Menon, CEO of CMS Computers Limited, to fuel expansion in Mumbai and NCR region by 31 December and in more than 20 cities by the first quarter of 2016. The funding will help the company to create global products for an international audience, enhance current offerings to its audience in the country and to enable it to expand its geographical reach within the country.

Launched in October 2015 with an Android app and web service by IT professionals Sreevalsan Menon (39) and Raman Shukla (32), the aim of the platform is to connect consumers and the supply side of healthcare to four major healthcare pillars –  hospitals, diagnostic centre, pharmacy and wellness along with integrated deals on healthcare from five percent to 30 percent on a single platform. The idea is to make healthcare available to consumers on the platform in just two clicks.

Medikoe as a concept came about when Menon could not get a medicine at night that he wanted when he was staying at a five star hotel in Mumbai and worse, did not know where to procure it from in the vicinity. Medikoe stands for medical and koe for happiness. “Medikoe is about accessing healthcare with happiness. However, we are not aggregators for doctors,” clarifies Menon, Founder and CEO.

The company did a survey before launching the online platform and found that there existed a major gap between the supply side and consumers which is what it aims to bridge. The services as of now are available only in Bengaluru but with the angel funding it has received, Medikoe plans to offer its services and offers  pan India including Tier-2 and Tier-3 cities. “We want to have first mover advantage in cities like Kanpur, Lucknow and other Tier 2 and 3 cities,” says Menon, founder and CEO.

“When we launched in October 2015, we expected to have around around 100 users. However, we were surprised to realize that  we were catering to 1800+ users with more than 20000+ search’s on the platform within one month of the launch. So far, Medikoe has registered more than 1500+ Healthcare and wellness service partners with more than 100+ deals on our platform.”

The one-of-its-kind platform emphasizes on helping the service providers receive more visibility and reach. Some of the key partners includes Manipal Hospitals, Jiyo Natural(healthy food), NM Medical Diagnostic, Nightingales Home care, Positive Homeopathy etc to name a few and clocks.

The company expects 100 percent Year on Year growth in the first full year of operations.