Practo Technologies hopes to raise $15 million in 6-8 weeks

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Practo Technologies, e-healthcare services provider, is looking at raising over $15 million and hopes to complete the deal in 6-8 weeks. The Sequoia Capital-invested firm plans to use the funds to introduce new products and set its footprints in three new southeast Asian countries.

“We are on the look out to raise upwards of $15 million. The fresh funding will help us expand and introduce new products to bring hospitals and diagnostics under our umbrella. Right now, we offer products and services for clinics and doctors, which patients can avail,” said Shashank ND, CEO and co-founder of the company.

Sequoia Capital invested Rs 25 crore in the company in 2012.

Practo, which was incubated by Morpheus Venture Partners, is an online platform for people to seek appointments and other details and app like comprehensive profile information, doctor search by location and specialty. Mobile-optimised site and application account for about 30-40 per cent of its traffic.

“We have over one lakh doctors on Practo.com. We plan to expand from six to 26 cities, including tier II towns. Practo, which is available in Singapore, will start operations in Malaysia, the Philippines, West Asia in 12-18 months,” he said.

The company also offers two other products Practo Ray and Practo Tab for doctors and hospitals get augmented features like billing, inventory management, electronic medical records, scheduler, appointment reminders, among others.

“The next five years are about benchmarking each piece to global standards, and then connecting the dots and scaling globally. In terms of revenues, we may hit Rs 20 crore mark in FY 15,” he said.

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