Clinikally, a Gurugram-based startup operating a digital clinic for skin and hair care, has raised $2.6 million or around Rs 21.5 crore, in a new financing round led by US-based startup accelerator Y Combinator, with participation from other investors, including Tribe Capital, Goodwater Capital, Sequoia Scout Fund, and Rebel Fund.
A slew of angel investors including Dropbox co-founder Arash Ferdowsi, Cred’s Kunal Shah, BloomTech (formerly Lambda School) founder Austen Allred, former Y Combinator COO & Applied Intuition co-founder Qasar Younis, Bluejeans Network Co-Founder Alagu Periyannan, Athelas founders Tanay Tandon and Deepika Bodapati and Tilt founder James Beshara.
How the raised capital would help Clinikally?
According to the company’s statement, the raised capital would be utilized to build the platform to become more robust and cohesive, strengthen telehealth technology and beef up omnichannel capabilities with offline clinic collaborations.
Additionally, the startup would focus on improving its artificial intelligence (AI)-powered features to provide automated treatment plans from condition-specific diagnostics and questionnaires which were built using a proprietary database of prescriptions.
Prior to this round, the healthtech startup raised $500,000 in funding and was backed by Shutterstock CEO and Founder Jon Oringer’s Parento Holdings, ReNew Power Founder Sumant Sinha, MapMyGenome Founder Anu Acharya, Neapean Capital Founder Gautam Trivedi, among others.
What does Clinikally do?
Clinikally was founded in late 2021 by a Stanford graduate and healthcare researcher Arjun Soin. Arjun is also a part of the founding team at Get Safle and has worked as a researcher at companies like Microsoft, Cardiospire, and Amazon.
He has also served as a data advisor for the Ministry of Health and Family Welfare (Delhi).
The healthtech startup connects consumers with licensed dermatology practitioners who recommend products and personalised treatment plans that cater to individual clinical needs across a range of conditions such as acne, hair loss, male or female pattern balding (Androgenetic Alopecia), hyperpigmentation, eczema, rosacea, melasma and more.
According to Soin, The startup aims to enable same-day doorstep delivery across all Tier 1s in India and add 250 partner clinics. The startup claims to have served 450,000 users across 500 cities.
“By giving a direct channel to qualified physicians and online pharmacy offering established, rigorously-tested products, Clinikally’s telehealth platform democratises access to expert dermatological and wellness care like never before. We are thrilled to have some truly strategic global investors on board that resonate with the India opportunity; it gives a huge fillip to our mission of reimagining the future of vertically integrated, full-stack care for the specialty in India,” said Soin.
The current landscape of digital healthcare in India
The digital healthcare market in India is growing rapidly. In 2021, it was valued at Rs 252.92 billion and is expected to reach Rs 882.79 billion by 2027, showing a CAGR of 21.36%.
It’s worth mentioning that digital technologies are revolutionizing the delivery of healthcare services in India. Telemedicine, e-pharmacies, AI, and data analytics are reshaping the accessibility and personalization of healthcare.
Currently, Clinikally’s e-pharmacy leverages AI to offer recommendations for certain over-the-counter (OTC) categories.
($1 = INR 83.04)
Also Read:
MyMandi catering to cart-pushers raises Rs 10 crore from Real Time Angel Fund
