Mumbai-based home healthcare startup Aegis Care Advisors Pvt Ltd, which operates under the brand Care24, has raised $4 million (Rs 27 crore) in Series-A funding led by SAIF Partners and existing investor India Quotient.
The company will use the funds to consolidate its presence across Mumbai and expand to more cities in India, a statement said.
This comes less than three months after the company secured $350,000 (about Rs 2.27 crore) in its first round of funding from seed-stage investor India Quotient.
Founded in December 2014 by IIT alumni Vipin Pathak, Abhishek Tiwari, Garima Tripathi and Pranshu Sharma, Care24 offers services such as home care visits by nurses, physiotherapists and attendants for infant care.
"An investment in developing the standard customer-centric healthcare service delivery system is a must for achieving quality services at scale," said Vipin Pathak, who is also CEO, Care24.
The company offers services ranging from post-discharge care, chronic pain care, physiotherapy, infant care, pre- and post-natal care, everyday medical nursing, geriatric care and assisted daily living.
“The firm does not employ the service providers itself but helps customers connect with them through its online platform,” Vipin told VCCircle.
Larger players in the home healthcare space include Health Vista India Pvt Ltd, that runs home healthcare company Portea Medical, and Medwell Ventures Pvt Ltd. In 2015, Portea Medical had raised $37.5 million (Rs 247 crore) in a Series B round of funding led by existing investor Accel Partners. Medwell Ventures Pvt Ltd had raised $10 million (Rs 64 crore) in its Series A round investment from Fidelity Growth Partners India and Fidelity Biosciences.
