Indian medical tech startup Medinfi has raised its seventh round of funding, worth $50,000. The firm, based in the country’s tech capital of Bangalore, will use the injection to grow its user base well into the millions–as local outlets tout it as one of India’s most promising tech brands.
Medinfi helps people in 30 Indian cities locate doctors and healthcare professionals. It also publishes blogs on a number of health-related issues including women’s health and nutrition.
Medinfi has been funded to the tune of around $700,000 to date. Angels in India, the US, Germany and Singapore have led investments, which CEO Ravi Shankar Mishra tells Red Herring will help it achieve a far greater spread of users.
“We intend to grow to five million users since we have extremely low cost of user acquisition,” Shankar Mishra says. “We are looking for long-term investors who are from healthcare, technology or the venture capital space.”
This round will allow Medinfi to reach an additional 20 cities–and to develop the company’s iOS platform. While iOS only represents around 10% of India’s smartphone market, in a landscape where around 340m people have smartphone, it is a significant step.
Medinfi is already garnering the attention of investors and media inside and outside of India. TechInAsia recently rated it one of its country’s six most promising startups. Shankar Mishra says that public and private partnerships will push its ‘TripAdvisor for Health’ model even further.
“Yes, indeed,” he says. We have already have worked with the Insurance Information Bureau of India, and from there ROHINI Project of giving Unique Identification to every Indian hospital.”