Docplix raises Rs 1.2 crore for product development, AI integration, market expansion – ET HealthWorld

Lucknow: Health-tech company Docplix has raised Rs 1.2 crore in Bridge Round led by Inflection Point Ventures. The funds raised will be utilised for product development, AI integration, and market expansion.

This will involve enhancing their EHR system, incorporating advanced AI capabilities to improve decision support and patient care, and expanding their market reach to bring their innovative healthcare solutions to bigger clinics and hospitals.

The start-up is on a mission to transform healthcare in India by digitising health records for 1.4 billion people. The company’s ABDM-compliant Electronic Health Record (EHR) system ensures secure and interoperable management of patient data. The company’s integrated Decision Support System (DSS) helps healthcare professionals make informed decisions through data analytics. Additionally, innovative visualisation tools make patient data easy to understand, enhancing patient care and clinic efficiency.

Vinay Bansal, Founder & CEO, Inflection Point Ventures said, “The govt’s initiative Ayushman Bharat Digital Mission to build a heath ID repository of all citizens for easy exchange of information between the doctors and patients is not a small feat. DocPlix’s powerful platform, wellness programmes and addressing access to healthcare in tier II and III towns drove our decision to invest in the company.”

The company has built a comprehensive and in-depth AI-enabled Electronic Health Record (EHR) system for doctors, establishing itself as a leader in digital healthcare solutions. The start-up serves over 2,000 doctors, extending its reach through programmes and remote clinics in tier II and tier III cities to address healthcare needs in underserved areas.

The company is experiencing rapid growth with its ever-growing customer base at a renewal rate of 93 per cent. The start-up plans to expand globally, starting with the US in late 2024, aiming to enter lucrative and technologically advanced markets to further amplify its impact in the healthcare sector.

Dr Varun Garg, Co-Founder & CEO, Docplix, said, “Our goal is to become the leading EHR provider in India, leveraging advanced technologies like AI and data analytics to transform healthcare delivery. With a strong foundation and the support of IPV, we are poised to scale globally, starting with the USA, while continuously innovating to meet the evolving needs of healthcare professionals and patients.”

The company launched its proprietary AI model, Pāṇini and has built an ecosystem with over 3,000 doctors and has emerged as a market leader in Uttar Pradesh and Uttarakhand.

In 2022, the Indian Electronic Health Record (EHR) market was valued at approximately $414 million, projected to reach $900 million by 2030. Globally, the EHR market was valued at $25 billion in 2022, expected to grow to $40 billion by 2032. Meanwhile, the Indian Lifestyle & Wellness market stood at $1,300 billion in 2024, while the global market reached $5,546.0 billion in 2023 and is forecasted to reach $9,245.8 billion by 2033.

  • Published On Jun 6, 2024 at 08:55 PM IST

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