Bengaluru-based start-up Kenko Health raises Rs 90 cr in a funding round led by Sequoia Capital

Bengaluru-based healthcare start-up Kenko Health said that it has raised $12 million which is around Rs 90 crore in a funding round led by Sequoia Capital.

The Series A round also saw participation from Beenext, Orios, 9Unicorns and Waveform. The investment will primarily be used to acquire customers, develop new products and build a stellar team, the startup said in a statement.

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As per a PTI report, Aniruddha Sen, Co-founder, Kenko Health said, "The new funds will help us expand our channels and to ramp-up growth in the coming months. We hope to add both affordability and accessibility to quality healthcare in India with our tech-enabled solutions."

He further added that the increasing number of first-time health insurance buyers in the market states that people are looking for comprehensive health solutions and will not hesitate in buying it as long as it brings some real value and is well within their budget.

One must know that Kenko Health provides subscription-based service that covers health expenses across OPD and hospitalisation, in collaboration with insurance companies. Furthermore, as part of its OPD coverage, Kenko covers costs of doctor visits, medicine expenses, diagnostic tests, and more.

Sequoia India Principal Abhishek Mohan stated that managing health care expenses needs to be reimagined in India.

"Out of pocket settlement of healthcare expenses in India is as high as 62 per cent, compared to 11 per cent in the US and 36 per cent in China. Kenko Health is at the forefront of this change by offering affordable all-inclusive healthcare subscription packages with a seamless tech-first claims process," he added.

In this regard it can be said that Kenko Health had previously raised $1.7 million as a part of its pre-Series A round with BEENEXT and Orios as co-lead investors, and also saw participation from 9Unicorns and Waveform ventures.

(With inputs from PTI)