Bengaluru-based Medfin on Thursday said that it has raised funding in Series A round led by Singapore-based healthtech venture capital (VC) fund HealthXCapital and early-stage venture fund Blume Ventures. Japan’s Dream Incubator Inc. and existing investor Axilor Ventures also participated in the round.
The healthcare startup that focuses on day care surgeries plans to utilise the raised funds for setting up Ambulatory Care Centres (ASC) across four cities in India including Bengaluru, Pune, Chennai and Hyderabad. The proceeds will also be used to procure high-end surgical equipment for day care surgeries.
“Indians will undergo around six crore surgeries this year. With rapid technological improvements, around 60 per cent of all surgeries can be performed at day care/Ambulatory Care Centres (ASC). This brings down the costs for a wide range of procedures like varicose veins, fibroids, kidney stones, hernia, prostate, and piles among others by about 40 per cent with better patient outcomes,” said Arjun Kumar, Co-Founder, Medfin.
Founded in 2011 by by Arjun Kumar, Arun Kumar and Sidharth Gurjar, Medfin provides patients to access various treatment options and medical procedures by expert surgeons at an affordable cost within their city. It offers treatment options across various categories, some of which are vascular surgery, proctology, gynaecology, urology, orthopaedics, endocrinology, and plastic surgery. Since its launch, Medfin has completed more than 2,800 surgeries and about 33,800 consultations across five cities, according to company’s website.