INDIA – Medfin, surgical services provider, has raised US$15 million in Series B funding from a group of high-profile investors that includes Arka Nxt, HealthXCapital (Singapore), Blume Ventures, Axilor Ventures, Sony, and Kotak Investments.

With these funds, Medfin intends to expand to over 25 cities across the country. It intends to invest in R&D, technology, processes, and people in order to provide patients with a one-stop comprehensive service platform for 250+ types of daycare surgeries.

The company has previously raised US$4 million in venture capital.

Arjun Kumar, Founder and CEO at Medfin, said, “A large part of the population in India falls in the low to medium income bracket and daycare surgeries can really benefit them.

At Medfin we combine value-based care, advanced technology, and superior patient experience to deliver better health outcomes while containing costs.”

Arjun Kumar, Arun Kumar, and Sidharth Gurjar founded Medfin in 2017. They noticed that surgery was a key component within the industry.

The trio has previously collaborated and has valuable experience and backgrounds in consumer internet and healthcare.

Numerous procedures have been able to migrate into the ambulatory care or day care setting due to advancements in clinical approaches and technology.

This also reduces the overall cost of the procedure because these are usually specialized surgery centers that do not bear the burden of high real estate costs and inflated staff requirements.

Medfin assists patients throughout the surgical and related diagnostics processes, including connecting them with surgeons, determining the best course of treatment, performing cost estimates, and determining insurance coverage.

Medfin’s vision is to create India’s first and most affordable network of ambulatory surgery centers focused on providing a pleasant patient experience.

By the end of 2022, the company expects to have completed 100,000 surgeries. The Indian surgical care sector is expected to grow at a compound annual growth rate of 22% between 2016 and 2022, reaching US$100 billion by 2022.

Farther afield, Avi Medical, a German healthtech startup, has raised US€50 million (US$54.40 million) in Series B funding for its telemedicine platform.

Balderton Capital led the round, with participation from Heal Capital, Addition, Picus Capital, Vorwerk Ventures, Eurazeo, and 3VC.

The round was also attended by UiPath founder Daniel Dines and Forward Health founder Adrian Auon. Avi Medical has now raised more than €80 million (US$87.04 million) in total funding.

Avi Medical offers a patient-facing app that allows people to track their health using personalized health recommendations.

Among other interventions, the app incorporates physical interactions, blood work, digital therapeutics, and nutrition plans.

It also allows the patient to share medical data and receive in-home or on-site medical care.

Avi Medical plans to use the funds to create new care pathways and integrate digital assistants to improve patient care.

For patients, this means making primary care more convenient with one-click prescribing and at-home testing.

 Avi Medical will improve decision support for doctors by making recommendations based on machine learning prior to a patient meeting.

The funding will also allow Avi to expand its services throughout Germany and further into Europe, particularly in rural areas that are frequently left behind by technological advances.

It plans to expand from eight to 100 clinics across Germany by 2024. In the European telehealth space, French provider Doctolib recently announced a €500 million (US$544 million) equity and debt funding round, valuing the company at €5.8 billion (US$6.31 billion).

Meanwhile, HigoSense, a Polish startup, announced in January that it had completed a €5 million (US$ 5.44 million) Series A funding round for its telemedicine solution.

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