Venture Catalysts, India’s first and largest integrated incubator and accelerator, has led a Rs 4 crore seed round in health-tech EasyAspataal. The funding round also witnessed participation from K Ganesh and Srinivasan Anamulo from Portea Medical, Sumit Chazed, Founder, OTO capital and CredR, Sheela Anand – ex CEO of Vidal Health and VP Star Health Insurance, and serial angel investor Praveen Das.
Founded by Manoj Gupta and Gunjali Kothari, the Mumbai-based startup has built a tech-enabled platform connecting patients and hospitals with multiple stakeholders to provide a smooth hospitalization experience. An alumnus of SPJIMR, Manoj comes with vast startup and fintech experience and has held several leadership positions in the past. Gunjali looks after the business growth as an expert in sales & marketing and is a serial entrepreneur. The founding team comprises Sumit Sharma- an IIM Ahmedabad graduate who leads the product & P Ananth Krishnan, an industry veteran heading the growth vertical.
EasyAspataal aims to assist hospitals with a 360-degree digital infrastructure that will help them automate their front-office operations and maximize their revenues by delivering improved patient care.
On leading the investment, Dr. Apoorv Ranjan Sharma, President, and Co-founder, Venture Catalysts, said, “There are many small and mid-sized hospitals catering to the healthcare needs of 70% Indians. However, they lack ready access to facilities and services like their larger counterparts. About 90% of these hospitals have poor digital payments infrastructure and provide a huge opportunity for EasyAspataal. The team is well-equipped to capture this white space and translate this opportunity into a profit-making business. We are confident in our investment.”
Sharing his views, Manoj Gupta, CEO & founder of EasyAspataal, said, “Small and mid-size hospitals form 66% of India’s healthcare ecosystem and are losing an average of 30% of their annual revenue due to poor infrastructure and administrative challenges. On the other hand, a patient faces various challenges such as identifying the right care, finances, and heavy manual paperwork and lack of coordination between multiple stakeholders in healthcare.”
“EasyAspataal aims to bridge these gaps in treatment delivery with its one-stop solution, bringing a plethora of services including re-admission, treatment financing, hospital service payments, insurance information, and discharge details on a single platform. The fundraising is an indication of all the hard work put in by our team, and it will help us further in our efforts to make hospitalization easy, seamless, and paperless,” he added.
Launched in January 2021, EasyAspataal is already working with 43 hospitals and has received 500+ registrations on their platform. The company plans to utilize the fresh capital injection to strengthen its technology framework and increase its sales and marketing activities. EasyAspataal aims to onboard 200 hospitals and serve 5000 patients across Maharashtra by the end of 2021.