India’s Healthcare Info Company Lybrate Gets $10 Million Funding

India’s Healthcare Info Company Lybrate Gets $10 Million Funding

 Eighteen-month-old Lybrate, based in New Delhi, which aims to increase access to doctors and quality healthcare information, received $10.2 million in funding from Tiger Global, Tata Sons’ President Emeritus Ratan Tata and existing backer Nexus Ventures.

The Opportunity: People in metro areas put off visiting doctors for lack of time, traffic congestion, and just the hassle. Whereas people in rural areas, where fewer doctors are available, preferred to get medicines prescribed by local pharmacists.

The CEO: Saurabh Arora left the U.S. and his job as a data scientist in Facebook and returned to India to start the business when, on a visit home, he realized the need for a web-based platform along with apps for Android and iOS that could connect doctors to patients and break down the barriers surrounding healthcare in India.

The Product: Users can search doctors and surgeries, make and manage appointments, and save their medical records. Patients can consult more than one doctor for opinions – they are only charged when they choose to enter into a one-on-one dialogue with a doctor. In that event, the app handles the communication, allowing them to share photos, videos and chat via text with the physician. Patients are charged a variable fee set by the doctor, and an additional ‘internet handling fee’ — typically a further 5 to 15 percent — which goes to Lybrate, reports Tech Crunch. Additionally, Lybrate’s mobile apps carry Facebook-like feeds which provide daily health tips and advice to users based on their own needs or situations, such as pregnant women or seniors.

“Lybrate’s concept is ground breaking. We believe it has the potential to revolutionize healthcare delivery in India and script the future of the healthcare industry with its model,” said Lee Fixel, the Tiger Global partner who has overseen the firm’s major investments in India.


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