Health-tech startup DocPlix raises Rs 1.2 crore led by IPV

DocPlix, a health-tech startup, has raised Rs 1.2 crore from Inflection Point Ventures (IPV) the company said in a press note on June 6.

This is the bridge round raised by the company. The fresh funding round was led by IPV.

DocPlix plans to use the funding for product development, AI integration and market expansion.

IPV is an angel investing platform that claims to have over 14,000 high net-worth individuals and professionals to together invest in startups and provide them with monetary and experiential capital. 

DocPlix aims to digitize health records for all 1.4 billion people in India in compliance with the Ayushman Bharat Digital Mission (ABDM). 

The company maintains an Electronic Health Record (EHR) system to ensure secure and interoperable management of patient data. 

Vinay Bansal, founder-CEO of IPV said, “The government’s initiative ABDM 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 is on a high mission to help citizens and healthcare providers to integrate into a tech enabled healthcare system which can substantially improve patient diagnosis and treatment. At IPV, we have always invested in companies that are using tech for good to bring a real-life change in the lives of the users. DocPlix's powerful platform, wellness programmes and addressing access to healthcare in tier 2 and 3 towns drove our decision to invest in the company.”

The startup boasts of a renewal rate of 93% and an increasing customer base addressing healthcare needs in underserved areas of tier-2 and tier-3 cities.

Dr. Varun Garg, co-founder and CEO  of  DocPlix commented, “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.”

With the launch of its proprietary AI model, Pāṇini, it has built an ecosystem with over 3,000 doctors and has emerged as a market leader in Uttar Pradesh and Uttarakhand, the company stated.

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.