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MFine raises $48M in Series C round

mfine funding

MFine, a digital healthcare startup, announced that it has raised $48 million in a Series C round co-led by Moore Strategic Ventures and BEENEXT.

 The round also saw participation from existing investors Stellaris Venture Partners, SBI Group Japan, SBI Ven Capital Singapore, Heritas Capital, Prime Venture Partners, Y’S Investment Pte Ltd., and Alteria Capital.

With the latest round, the startup is now looking to build one of the biggest virtual hospitals in the world and make high-quality healthcare more accessible and effective using AI and mobile technologies.

The freshly infused capital will enable MFine to increase its leadership in digital health with investments into extending its hospital, diagnostics, and e-pharmacy network across India and building tech-driven care delivery products for both acute and chronic conditions patients. 

In a press release, Prasad Kompalli, CEO and Co-founder, MFine, said,“ In the healthcare sector, the world has changed to a new normal and we are seeing a steep growth in the adoption of digital health in India too.”

“We will continue to invest in deep tech to transform every smartphone into a health companion for consumers and a decision support assistant to all doctors. We will also be looking to expand our network across India and make our services available widely. We are very excited about the future of digital health in India and we look forward to working with our partners, investors, and the government to build and scale this further,” he added. 

Hero Choudhary, Managing Partner, BEENEXT, said, “MFine’s model, coupling AI technology with a strong provider network, is powerful in providing healthcare services on-demand and changing the way we think about care delivery for millions across the world.” 

“We see a huge demand from consumers looking for an integrated care experience, and MFine has built the right platform to deliver that experience with its state-of-the-art technology and a fast-growing provider network.

He added, “The high uptake and engagement on MFine’s platform speaks volumes about the pressing need for such a service not only in India but also globally. We are excited to partner with MFine as they continue to change the face of healthcare in India.”

MFine seems to have established itself as a strong player in the healthcare segment. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of MFine.

Shishir Gupta, Founder and CEO, StartupLanes

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