These Silicon Valley guys think they have the answer to India’s medtech space

The seeDoc founders

One was the founder of the search engine Spock. The other launched the venture capital firm Plus Ventures. Jaideep Singh and Vivek Bansal spent more than 20 years in Silicon Valley, incubating and growing technology companies.

The two eventually decided to return home to India to be with their families. But while you can take an entrepreneur out of Silicon Valley, you can’t take Silicon Valley out of the entrepreneur.

The two were soon itching to birth a startup. What brought them together was the medtech space.

“India has close to 1 million doctors, yet access to high quality medical care was completely broken here,” says Vivek. “There was an urgent need for a transparent and trustworthy mechanism that is easily accessible yet affordable.”

The two collaborated on SeeDoc, one of India’s fastest growing video medical consultation companies. Since the beta version of the app came out in December, the app has signed on 300,000 users and is seeing up to 500 video consultations a day.

The app was formally launched in Delhi last week.

The opportunity

Photo credit: NEC Corporation of America

Jaideep, an MBA from The Wharton School, was a successful entrepreneur. He was the founder and CEO of Spock, which had over 30 million monthly visitors within two years of its launch.

He was also a venture capitalist at Clearstone Venture Partners.

Vivek, who did a masters in computer science from Kansas State University, had founded Plus Ventures, an early stage investment firm focused on technology-enabled products. He also worked at Globespan and NEC Research Laboratories.

So, what did they see in India’s medical space? An enormous opportunity.

“The existing market size of medical consultation is over US$25 billion, growing at over 15 percent per year,” Vivek tells Tech in Asia. “Some 75-80 percent of medical problems and follow-ups can be handled digitally.”

Tech play

Physical examination

Doctor, doctor