New Delhi, August 28, 2018: myUpchar, the leader in providing health information in Indian languages has raised a Series A round of $5M from Nexus Venture Partners, Omidyar Network and Shunwei Capital. myUpchar, currently accessed by more than 10 million people, is on a mission to solve for healthcare awareness and access across a wide socio-economic spectrum of India. With the funding, myUpchar aims to enrich its product and technology offering that will include further strengthening of voice, video and virtual reality interfaces along with the development of newer interfaces that will make large-scale remote provision of health services a reality.
myUpchar is looking to serve the more than 500 million aspirational Indians who want quality information and services but are unable to access them either because they are not available locally or are not available in local languages.
Rajat Garg, Co-Founder & CEO, myUpchar, says, “We have a unique opportunity to solve the acute awareness and access problem in the healthcare space. Our focus over the next couple of years is to address this gap via technology and content. myUpchar platform will become the one stop solution for every Indian seeking healthcare information and services in Indian languages. As our technology gets smarter and smarter, we will personalize every user’s experience to enhance our ability to have a real impact on their health outcomes.”
myUpchar has partnered with doctors to create credible and authoritative health content in 13 Indian languages across various disciplines such as Allopathy, Ayurveda and Homeopathy. myUpchar’s proprietary voice search, as well as text to speech technology for all health content, has enabled it to serve customers who are not yet comfortable with typing or reading this content on a phone. It also has hundreds of partner doctors across specialties who serve several thousand patient queries every day. These consultations are conducted in a simple interface to make sure the consulting product is accessible to customers with any level of comfort with technology.
myUpchar, headquartered in Delhi, was founded by Rajat Garg & Manuj Garg who met a decade ago at Stanford University. After Stanford, Manuj worked at BCG where he did a long stint at The Gates Foundation while Rajat worked at Amazon before starting his entrepreneurial journey. Rajat realized the lack of Indian health content while running his previous startup and reconnected with Manuj to do a deep dive. They quickly realized that demand for such content and services are huge as quacks and misinformation spread by them is a major issue in India.
Sameer Brij Verma, Managing Director, Nexus Venture Partners, “We are truly excited to partner with Rajat and Manuj on their mission to build the definitive healthcare access gateway for the Bharat market which has its own unique healthcare challenges. The team has done an exceptional job in building market leadership across the Hindi belt and now plans to scale their content and integrated consultation platform to several other regional languages.”
Siddharth Nautiyal, Investment Partner, Omidyar Network, adds, “We are excited by myUpchar’s vision to become India’s largest credible and relatable health destination platform and facilitate low-cost healthcare access to cater to the needs of new wave of first time smartphone users engaging via local language content, a population often referred to as the Next Half Billion. myUpchar has the potential to solve for health information and infrastructure asymmetry for the masses, closely aligned with the government’s National Health Protection Mission.”
Tuck Lye Foh, CEO and Founding Partner, Shunwei Capital, adds, “Shunwei sees great opportunities in the vernacular language content sector in India. We are excited to witness that myUpchar has done a great job in serving health-related content in regional languages to the mass market. We strongly believe that Rajat and Manuj will continue their success to build myUpchar into the default destination for the healthcare needs of 500 million vernacular users.”
About Nexus Venture Partners
Nexus Venture Partners is an early stage VC firm that operates as one team across two markets: India and US. Nexus team comprises ex-entrepreneurs who are strong “bottom-up” thinkers and “sleeves-rolled-up” operators. With decades of experience in building and funding globally leading companies, Nexus manages USD 1.2 billion across funds. Nexus Venture Partners’ footprint in world’s two leading markets, positions the team uniquely with global insights and ability to serve entrepreneurs. Nexus partner companies include Unacademy, Postman, Pratilipi, Clover, Lifcare, Headout, Delhivery, Mezi (acquired by American Express), Pubmatic, Cloud.com (acquired by Citrix), Gluster (acquired by Red Hat), Druva, Netmagic (acquired by NTT) etc
About Omidyar Network
Omidyar Network is a philanthropic investment firm. We create opportunity for people to improve their lives by investing in market-based efforts that catalyse economic and social change. In India, we focus our efforts on helping the 100s of millions of Indians in low-income and lower-middle-income populations, which we define as ranging from the poorest among us to the existing middle class.
Omidyar Network has committed more than $1 billion to for-profit companies and nonprofit organisations that foster economic advancement and encourage individual participation across multiple areas, including Digital Identity, Education, Emerging Tech, Financial Inclusion, Governance & Citizen Engagement, and Property Rights.
About Shunwei Capital
Shunwei Capital is a premier Chinese venture capital firm specializing in early to growth stage investments in founders and disruptive business models in mobile Internet, Fin-Tech, IoT and AI. Founded in 2011 by Mr. Lei jun (also founder of Xiaomi) and Mr.Tuck Lye KOH , Shunwei now manages over 2 billion US dollar across three funds. In the two years Shunwei Capital has been in India, it has backed nearly 15 early-stage startups across categories such as content, social networking and fintech.