Total amount raised
$228.2 Millions
Latest funding date
Location
Title
Practo has successfully raised significant funding through multiple rounds, with its latest being a Series D round. The company is backed by 14 investors, including prominent names like CapitalG and Matrix Partners China.
Keep reading to explore the intricacies of Practo's fundraising journey and the investors backing this innovative healthcare platform.
What Is Practo?
Practo, founded in 2008 in Bangalore, Karnataka, India, is a healthcare technology company that connects patients with healthcare providers for various services. The company was established by Abhinav Lal, Gholam Sarwar, and Shashank ND.
Practo offers a comprehensive platform for healthcare needs, including instant video consultations, booking doctor appointments, ordering medicines, and diagnostic tests. It aims to streamline the healthcare experience for both patients and providers.
With a workforce of 501-1000 employees, Practo continues to innovate and expand its services, making healthcare more accessible and efficient for everyone.
How Much Funding Has Practo Raised?
- Series A
- Amount Raised: $4M
- Date: July 2012
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's reach and enhance its technology infrastructure.
- Series B
- Amount Raised: $30M
- Date: February 2015
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $90M
- Date: August 2015
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand services and improve product offerings.
- Series D
- Amount Raised: $55M
- Date: January 2017
- Lead Investors: Tencent
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand into new regions.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2019
- Lead Investors: InnoVen Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Debt Financing
- Amount Raised: ₹1.2B
- Date: June 2019
- Lead Investors: Trifecta Capital Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and fund expansion activities.
- Series D
- Amount Raised: $32M
- Date: August 2020
- Lead Investors: AIA Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion in the digital healthcare sector.
Total Amount Raised: $211M
Current Valuation: Not publicly disclosed
Key Investors
- CapitalG
- Details: CapitalG is a growth equity investment fund backed by Alphabet Inc., the parent company of Google. It focuses on investing in companies that are at the growth stage and have the potential to become market leaders.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Airbnb, Stripe, Lyft.
- Matrix Partners China
- Details: Matrix Partners China is a venture capital firm that invests in early-stage companies in China. It is part of the global Matrix Partners network, which has a strong track record in technology investments.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Didi Chuxing, Ele.me, Baidu.
- Tencent
- Details: Tencent is a Chinese multinational conglomerate holding company known for its investments in internet-related services and products, entertainment, and artificial intelligence.
- Investment Focus Areas: Technology, entertainment, healthcare.
- Notable Investments: JD.com, Meituan, Pinduoduo.
- AIA Group
- Details: AIA Group is a leading pan-Asian life insurance group with a presence in 18 markets across the Asia-Pacific region. It provides insurance and financial services to individuals and businesses.
- Investment Focus Areas: Healthcare, insurance, financial services.
- Notable Investments: Not publicly disclosed.
- Peak XV Partners
- Details: Peak XV Partners, formerly known as Sequoia Capital India, is a venture capital firm that invests in early and growth-stage companies in India and Southeast Asia.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Byju's, OYO, Zomato.
What's Next for Practo?
Practo stands at the cusp of significant growth opportunities, driven by the increasing demand for digital healthcare services. With the recent $32 million funding led by A1A Company, Practo is well-positioned to enhance its technology and expand its service offerings. The digital healthcare market is booming, and Practo's ability to scale operations and reach a broader audience presents a substantial opportunity for growth.
Future fundraising seems promising as Practo continues to attract international investors. The successful funding rounds indicate that Practo may secure additional investments to support its expansion plans. However, the company must navigate challenges such as intense competition, regulatory hurdles, and ensuring data privacy and security for its users. Balancing these challenges with growth opportunities will be crucial for Practo's continued success.
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