Medical software as a service (SaaS) provider LivHealth has raised $1.1 million in seed funding from Nexus Venture Partners. The company will be the eight from the healthcare sector in Nexus Venture’s portfolio.
LiveHealth, which digitises records from diagnostic laboratories through its SaaS platform and makes them available on the cloud to patients and doctors, will use the funding to expand its platform across India, explore international markets and strengthen product and technology.
“Our platform becomes one-stop solution for care providers to improve their operations, reduce costs & errors, and enhance collaboration among stakeholders. This also helps us gather a huge amount of data to generate insights and models to improve health care outcomes,” said Abhimanyu Bhosale, co-founder & CEO of LiveHealth.
The Pune-based company works with more than 650 diagnostic centres across India and Africa to automate their operations – managing patients, financial transactions, inventory, and automation among medical instruments.
The platform, having already digitised more than 72 million records and delivering over 50,000 digital medical records to doctors and patients every day, aims to extend its value offerings to other stakeholders in healthcare to build a more tightly connected healthcare ecosystem.
“More than 80% of clinical decisions are made with the help of lab and diagnostic tests. LiveHealth has chosen to transform the diagnostic industry first and then extend its offerings to other medical areas. We are excited to partner with the team on this journey”, said Sandeep Singhal, co-founder & MD, Nexus Venture Partners.
Nexus already has investments in over 20 startups working with data and artificial intelligence and over 40 across enterprise services.