Medify, a Mumbai-based HealthTech startup, on Tuesday announced the closure of its $1 Million Seed Round. According to the company, it was led by Authum Investment & Infrastructure, and included participations from notable Financial Intermediaries and Angels.
Founded by 23-year old NMIMS University graduate Kairav Shah, Medify provides Medical Practitioners and Retail Pharmacies with a platform that enables improved Information Management, Data Analytics, Hierarchical Access Monitoring and Patient Retention, for Primary Healthcare Providers.
“Despite millions worth of investments in this sector, operators of healthcare enterprises, whether micro, small or large, are still employing obsolete methods to maintain information, security of access and retain their patients. At Medify, our aim is to modernise this entire operation, by providing secure cloud based storage of and access to relevant information and analytics for all Primary Healthcare Providers.” Kairav Shah, Founder & CEO of Medify, said in a statement.
The Seed Round, which was led by public listed NBFC, Authum Investment & Infrastructure, also saw participations from financial intermediary Global Media Ventures India, as well as Advisory Members Sudeepto Deb, Partner at Sattva Consulting, and Dr. Vijay T. Shah, a Senior Interventional Cardiologist practicing in Mumbai.
“In the post pandemic era where digital health practices have become the norm, Medify is developing an essential component of the ecosystem that has lacked reinvention over the years. With the focus shifting towards the large E-Health businesses over the last 36 months, Medify’s vision to empower retail enterprises of all sizes with the technology infrastructure that would enable better rendering of services and business outcomes, is one that is truly compelling,” said Sudeepto Deb, an Advisor to Medify since 2021 and one of the participants of the Seed Round.
With healthcare entities from over 20 cities already enlisted on the Platform, Medify plans to utilise the funds from this round for advancing the platform’s capabilities further and helping healthcare providers automate certain processes, while also increasing reach and awareness of the Platform on a PAN-India basis, it claimed.
“The primary objective for us at this stage is to build a platform that serves the purpose of as many protagonists of the industry as possible, as well as educating them on the benefits and advantages that come with the ideal utilisation of a Platform such as this,” Kairav added.