# Novocura Tech Health Services Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novocura-tech-health-services-private

- Industry: Healthcare IT
- Headquarters: Bangalore, India
- Website: www.mfine.co
- Total disclosed funding: $77M
- Latest round: Series B (Oct 18, 2021)
- Investors on record: 10

## About

Novocura Tech Health Services Private Limited operates in the healthcare sector, specializing in telemedicine and at-home diagnostic solutions, providing accessible healthcare services through advanced technology and expert medical support.Founded in 2017, Novocura Tech Health Services Private Limited, based in Bangalore, India, focuses on transforming healthcare by leveraging technology. The company has completed nine funding deals, with its latest Series B funding round of USD 44.03 mn occurring on October 18, 2021, led by Moore Strategic Ventures and BEENEXT. The company is co-founded by Prasad Kompalli and Ramana Krishnan, with Prasad Kompalli serving as the CEO. The firm has shown growth through its strategic funding efforts, with a total amount raised of USD 44.03 mn, indicating a current valuation of USD 144.44 mn.MFine offers a comprehensive suite of healthcare solutions focused on telemedicine and at-home diagnostic services. The company's core products include online doctor consultations across various specialties, lab tests conducted at home, and personalized skincare products developed by dermatologists. Customers can book appointments with over 4,000 doctors in more than 35 specialties, including dermatology, gynecology, and general medicine. Additionally, MFine provides care programs tailored for chronic conditions such as diabetes and mental wellness, supplementing their consultation services with dietary and exercise planning. These services are available in major urban markets across India, targeting individuals seeking convenient healthcare solutions that blend technology with medical expertise.In 2022, MFine reported revenue of USD 6,777,855.60, with an EBITDA of USD -27,042,421. The company's revenue model is built on direct-to-consumer transactions, primarily through online consultations and at-home health checks. Clients pay for services such as individual consultations priced at approximately INR 999 and health check packages that can range from INR 1,499 to INR 8,499, depending on the number and type of tests included. The company also offers subscription plans for care programs, allowing clients to manage long-term health issues with access to unlimited consultations and regular follow-ups. Additionally, MFine generates revenue from its skincare line, featuring dermatologist-formulated products, which are sold directly to consumers via their platform, enhancing the accessibility of healthcare services across India.With the recent Series B funding of USD 44.03 mn raised in October 2021, Novocura Tech Health Services Private Limited plans to expand its network of hospitals, diagnostic centers, and e-pharmacies throughout India. The funds will also be utilized to develop technology-driven care delivery products aimed at both acute and chronic disease patients. The company's strategic growth initiatives aim to enhance its operational capabilities and broaden market reach within the healthcare sector.

## Funding rounds

- Series B, Oct 18, 2021, $44M — 57 Stars, SeaBright Capital, SBI Ven Capital, Prime Venture Partners, SBI Investment, BEENEXT, Octave Capital, Moore Strategic Ventures, Y'S INVESTMENT PTE. LTD.
- Series A, Sep 29, 2020, $16M — SBI Ven Capital, Prime Venture Partners, SBI Investment, BEENEXT
- Series B, Apr 24, 2019, $17M — SBI Ven Capital, Prime Venture Partners, SBI Investment, BEENEXT, Stellaris Venture Partners

## Investors

- SBI Ven Capital (https://capitalatlas.ai/funds/sbi-ven-capital) — Series B, Series A
- Prime Venture Partners (https://capitalatlas.ai/funds/prime-venture-partners) — Series B, Series A
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series B, Series A
- BEENEXT (https://capitalatlas.ai/funds/beenext) — Series B, Series A
- Stellaris Venture Partners (https://capitalatlas.ai/funds/stellaris-venture-partners) — Series B
- 57 Stars (https://capitalatlas.ai/funds/57-stars) — Series B
- SeaBright Capital (https://capitalatlas.ai/funds/seabright-capital) — Series B
- Octave Capital (https://capitalatlas.ai/funds/octave-capital) — Series B
- Moore Strategic Ventures (https://capitalatlas.ai/funds/moore-strategic-ventures) — Series B
- Y'S INVESTMENT PTE. LTD. — Series B