Care24 raises seed fund of USD 350,000 from India Quotient

Care24, Mumbai’s rapidly growing home healthcare platform, has raised its first round of funding worth USD 350,000 (INR 2.27 Crores approx) from India Quotient. Care24 is committed to bringing premium medicare services to the patient's home. Care24 will use funds to enhance its technology, strengthen team, standardize care and quality assurance. Furthermore, it will focus on deepening its services and customer reach in Mumbai.

Care24 is founded by IIT alumni- Vipin Pathak, Abhishek Tiwari, Garima Tripathi and Pranshu Sharma to make care easy, accessible and affordable. Care24 offers care at home through background verified caregivers including Nurses, Attendants and Physiotherapists. Rapid urbanization, nuclear families, working couples, and the hectic modern life that disrupts the work-life balance has raised the need for medicare aid that is skilled, reliable and convenient.

From post-discharge care, bedridden care, chronic pain care, physiotherapy, infant care, pre-natal and post-natal care, everyday medical nursing, geriatric care and assisted daily living, Care24 lives up to its name in terms of the gamut of services it covers. It aims to leverage technology in systems and processes to enforce stringent feedback, monitoring of treatment and reaching the customer 24/7.

Commenting on the fund raised, Garima Tripathi, Co-Founder, Care24, said, “We want to create an indelible position as India’s one point solution for patient care services at home. Our choice of business model, its veracity and market approach differentiates us and puts us in a unique position to address the dire need for apt and practical health care services in the country. India Quotient has shown a lot of faith in our capacity to execute the vision of the company. This investment will help us cement our technology, processes and recruitment of talent by making balanced investments in these directions and ultimately take us closer to the goal of delivering high quality patient care services.”

Garima further added, “We wish to first carve a niche place for ourselves in Mumbai by offering consumers a compelling experience, and then expand our services to other cities in due course. We also plan a huge investment in training the caregivers on-boarded onto the platform.”

Care24 is backed by an experienced board of medical professionals which strengthens the medical thrust of the business while its efficient management team leads the operations and administration. Together, the team is responsible for guaranteeing that health problems of the common man are resolved through trustworthy and seamless support without the usual rigmarole of finding the right doctors, medical support or timely help.

Madhukar Sinha, Partner, India Quotient said, “Macro factors like increased income, double income group, increased hospitalization needs etc. are resulting in explosive growth in home health care.  The use of tech in this highly un-fragmented industry can be game changing which is the approach of Care24."

Anand Lunia, India Quotient, said “Our reason to invest in Care24 is was straightforward - we’ve know the team for a long while and were impressed by their collective synergy & execution speed.”

Care24 follows a comprehensive and carefully curated process to achieve 100% patient satisfaction- right from addressing the patient’s need, appointment of caregiver, expert tracking and doctor counseling. It ensures 24/7 availability, transparent pricing and speedy services to provide the right care at the right time. Its caregivers undergo attestation, verification and on boarding and training to make its services personalized, reliable and cost-effective.

Care24 currently serves 50 new patients a day and plans on adding new service verticals. The company is also looking at adding travel assistants and equipment renting as part of the platform in the future.