Congratulations!! Mfine Secures Series A Funding
- Prasad Kompalli
- 2 Min Read
- Fact Checked
mfine has crossed the next milestone. We are excited to have Ritesh(Stellaris) and Shripati (Prime Ventures), as our partners going forward. We constantly draw from Ritesh’s deep knowledge of healthcare ecosystem and Shripati and team bring with them tech and product focus and experience of building and supporting several successful tech start-ups.
It has been roughly a year since Ashu and I started. We grew deeply passionate about this space the more we studied the domain and the more we interacted with people in this ecosystem.
Healthcare is complex – not technologically per se, but the overall problem space is so vast with many different players, different economic models, incentive structures and also consumer behaviour. We went through several months of internal discussions, studied other markets- as we travelled to China, SE Asia and the US and did several interviews with consumers, doctors and hospital owners.
We zeroed in that high quality and on-demand access are to be at the foundations of what we would build. On-demand solves not just convenience of access but also allows for early detection of issues, makes it easy to track health and recovery, makes follow ups effortless and improves medication compliance – essentially puts lot more control in consumers’ hands for managing their health. This is an important perspective we want to drive across the ecosystem: Empowering consumers helps with better health outcomes.
‘High Quality’ in healthcare can get into highly opinionated, just perception based debates. When we stepped back and thought we saw hospitals are able to give holistic care to patients and that’s an important element of Quality. When we partner with reputed and standards accredited institutions, the quality bar is high. We had a reinforcement of this decision with a strong business model that shaped up as well, with hospitals as the providers: Working with reputed hospitals helps us maintain quality.
When we started talking to doctors from these hospitals, we got incredible support, enthusiasm and even ideas how the mfine app needs to work. We designed an AI system that’s learning medical standards, protocols and doctors’ diagnosis and treatment methods. It assists doctors by providing with all the data and analysis to do accurate diagnosis and effective treatment. With this system doctors are increase their reach and productivity: Technology we build massively scales the quality and effectiveness of doctors.
Everything we are doing at mfine- product design, partnerships and overall operations are following the above as principles. We are effectively creating a ‘cloud clinic’ where quality healthcare can be accessed on demand from anywhere. We believe we can scale this across the country and beyond and help people gain much more control over their health. New infusion of capital, helps us take more steps towards that vision.