Digital healthcare startup Karma Primary Healthcare raised $1.3 M Series A funding

A Series A funding round led by UBS Optimus Foundation, with participation from 1Crowd and other investors, has seen digital healthcare startup Karma Primary Healthcare secure Rs 11 crore (about $1.3 million).

Previously, Ennovent, Ankur Capital, Innospark, Grand Challenges Canada, and other investors had contributed $1.69 million to the company.

Karma said in a press release that the money will be used to expand the team and improve its technological capabilities as it develops a patient-centric care model for patients in rural areas.

Karma Healthcare is an online platform that provides primary health services remotely. It was co-founded in 2014 by Jagdeep, Gagandeep, and Manjeet Singh Gambhir. It provides rural villages and their health clinics with technologically advanced remote patient monitoring services.

For a number of ailments, the platform also provides remote doctor consultations. A community health worker is employed by the clinic to take vital signs, assist with video consultations between patients and doctors, print electronic prescriptions sent by the doctors, and give out free medications.

With its assisted telemedicine model, the Hyderabad-based company says it provides primary healthcare access to eight states in India. In the last three years, the number of patients it has helped has tripled, and it has affected over 350,000 lives—of which 55% are women.

By 2027, Karma hopes to have 100 locations providing care for more than 150,000 patients annually. The organization claims to be transitioning from a value- and transaction-based care model to one that is patient-centered.

Revenue for Karma Primary Healthcare dropped from Rs 5.18 crore in FY22 to Rs 4.79 crore for the fiscal year that ended in March 2023, a 7.5% decline. From a profit of Rs 10.20 lakh in the prior fiscal year, the company’s losses grew to Rs 3.21 crore in FY23.

It faces competition from companies such as DocOnline and Practo.