Online healthcare platform Practo raises $55 million in fresh funding

Indian online healthcare platform Practo said on Tuesday it had raised $55 million (nearly Rs 365.90 crore) from new and existing investors in a fresh round of funding led by China`s Tencent Holdings.

Bengaluru-headquartered Practo, founded in 2008, acts as a one-stop shop for patients booking appointments with doctors for online and in-person consultations.

New investors in the latest round include Japan`s Recruit Holdings Co -owned RSI Fund and Thrive Capital, Practo`s founder and chief executive Shashank ND told Reuters. 

Sequoia Capital, Matrix Partners, Capital G and Tencent were among the existing investors, who also participated in the latest round of funding, he said.

"The main focus will be to further invest in the platform to make it accessible to more Indians," said Shashank, who added that Practo will expand its medicine delivery and diagnostics services, currently available in the tech-hub of Bengaluru, to all major Indian cities.

The firm may soon partner with health insurance providers, Shashank said.

A part of the new funds will be used to expand the company`s services in South East Asia, he said. The company already has a presence in Indonesia, the Philippines, Brazil and Singapore.

The firm says 45 million appointments annually are currently managed through its website.