MedTel, leading connected care and remote monitoring platform, has expressed its plans to raise $10 million in fresh funding in 2022. This news has made MedTel fundraising a sensation among healthcare investors.
MedTel is an India-based B2B & B2B2C healthcare startup currently providing services in India, North America, Africa, Singapore and Indonesia. The startup plans to use the fresh funding for rapid business expansion, product improvement and conducting relevant clinical validation studies. It also wants to expand its services to PAN India.
Tripling the revenue over the years, MedTel has become a profitable investment for investors. It also has a strong revenue pipeline for 2022-2023. Therefore, existing investors and leading venture capitals have already expressed enthusiasm for this fundraising.
MedTel’s Funding History
MedTel Healthcare raised $1 million in August 2021 during its Pre-series A funding led by Singapore-based institutional investor MCE.
Besides, it also received support from a group of angel investors, HNIs, Meta Health (A Singapore-based listed company), and Physician VC (A global healthcare-focused VC firm founded and managed by doctors).
The startup was incubated in KIIT-Technology Business Incubator and received its seed funding from Bharat Petroleum and Start-up Odisha in 2018.
About MedTel
MedTel is an Internet of Medical Things (IMoT) based health tech startup deploying its remote patient monitoring services, WhatsApp chatbots and healthcare kiosks for connected care. Founded by Dr. Lalit Manik, Dr. Timiresh Das, Dr. Soumyakant Das and Ajit Choudhury, MedTel is a physician-led startup aiming to tackle the challenges of chronic health conditions, pregnancy, oncology and mental health.
They’re working hard to make healthcare more accessible, affordable and user-friendly for all patients.
MedTel’s contribution during COVID-19
During the pandemic, MedTel helped hospitals, clinics, and doctors remotely monitor COVID-19 patients with diabetes, hypertension, and obesity in real-time. It developed connected care and remote patient monitoring (RPM) applications for fast and accurate results. The startup also joined hands with Apex Group of Hospitals in Mumbai to ensure the best treatment during the pandemic.
How will MedTel impact India?
MedTel can be a game changer for India as it’ll immensely help to grow and improve healthcare systems. It can assist in
- The transition from in-person care to virtual consultations.
- Protecting sensitive health data from cybercrime.
- Building an integrated ecosystem to drive the adoption of telemedicine.
- Reducing medical errors and improving overall care delivery, especially in remote areas.
Let us know your thoughts on MedTel’s fundraising plan in the comments.
