Mfine, an online platform for doctor consultation, which is not yet launched and claims to be India’s first artificial intelligence-driven healthcare network, has raised Rs 9.5 crore ($1.5 million) in its seed funding round from Stellaris Venture Partners.
The funding will be used by the Bengaluru-based startup for product development and to meet the working capital requirements.
Apart from Stellaris, the round also witnessed participation of Mayur Abhaya and Rohit MA, healthcare entrepreneurs from Stellaris’ Founder Network.
As a part of this funding round, Stellaris’ partner Ritesh Banglani will now be joining the company’s board.
“The seasoned founding team brings together scale, execution experience and deep technology expertise to create a unique artificial intelligence application in healthcare,” said Banglani.
The startup is the brainchild of online fashion retailer Myntra’s co-founder Ashutosh Lawania. He founded the startup along with Prasad Kompalli, who is acting as a chief executive officer of the company.
“At mfine, we use technology to make a high-quality hospital network accessible on demand to consumers and will help provide a proactive care experience for patients,” Kompalli said.
Lawania, who had co-founded Myntra along with Mukesh Bansal and Vineet Saxena in 2007, had quit the online fashion portal in February, following a top management reshuffle. Kompalli was previously heading the company’s e-commerce platform and had quit in December 2016.
Mfine was established in February this year. The company has hired many of Myntra’s team members. Ajit Narayanan, who quit as Myntra’s chief technology officer earlier in June, has now joined Mfine as its chief technology officer.
Along with Ajit, the company has also hired Arjun Choudhary as chief business officer. He was working as a head of growth and sales at Myntra.
Mfine platform provides a chat window using which patients can consult doctors from hospitals on the network. Patients can consult paediatricians, gynaecologists, obstetricians and physicians. It also enables to collect samples for lab tests and order medicines online.
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Priya Singh leads the editorial team at AIM and comes with over six years of working experience as a journalist across broadcast and digital platforms. She loves technology and an avid follower of business and startup news. She is also a self-proclaimed baker and a crazy animal lover.