Deepti Sri · · 1 min readIndian healthtech firm to raise $10m in fresh funds
India-based MedTel Healthcare is looking to raise US$10 million in a new financing round.
Image credit: Timmy Loen
The healthtech company aims to increase patient engagement and compile patient data to help doctors draw insights faster and in real time.
MedTel’s remote patient monitoring platform caters to physicians, hospitals, governments, health insurance companies, telemedicine providers, homecare providers, and other-care delivery organizations.
Founded in 2017 by Soumyakant Das, Lalit Ranjan Manik, Timiresh Das, and Ajit Choudhury, MedTel is looking to close the fresh round by the end of this financial year. It will use the money to develop products, conduct relevant clinical validation studies, and scale its platform across India.
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The pandemic had stretched the healthcare sector “to unforseen limits,” so 2021 was “a real test” for MedTel, Manik said in a statement. “Healthcare providers needed to find ways to deal with the surge in emergency care while ensuring ongoing and routine care for patients,” he added.
MedTel’s services are currently available in Singapore and Indonesia as well as in Africa and North America. According to the company, it is on track to deliver “strong” revenue for 2022 to 2023.
Editing by Miguel Cordon and Joy Tirkey
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