News Contact Us

MFine secures USD 16 million in funding round led by Heritas Capital

Author : Pankaj Singh | Published Date : 2021-01-19 

MFine, an Indian health-care startup, has reportedly raised USD 16 million from a funding round that was led by Singapore-based private equity firm Heritas Capital. Sources with knowledge of the matter stated that the funding round also witnessed participation from Alteria Capital, BEENEXT, SBI Ven Capital, SBI Investment, as well as Y’S Investment Pte Ltd.

MFine intends to improve its position in providing an AI-driven and on-demand healthcare service in India using these fresh investments. The company is also aiming to become the largest virtual hospital with facilities in primary care, secondary care, and chronic care management in partnership with its trusted associates, sources cited.

The funding will also be used to scale up the programs recently introduced by MFine, such as drug distribution, preventive health screening, and diagnostic testing.

Notably, over one million users have used the MFine app since the outbreak of COVID-19 for teleconsulting physicians on chronic conditions such as diabetes and arthritis and acute diseases, including viral infections, and for various services such as health tests, e-pharmacy, diagnostics, and radiology.

In this context, Prasad Kompalli, CEO at MFine reportedly stated that 2020 has been a significant year for the company. He added that the imposition of social distancing measures and strict lockdowns allowed MFine to offer essential healthcare services to millions of people.

MFine had extended its geographical reach to serve people from over 1,000 Indian cities in 2020 and introduced various new services including AI-based self-assessment of different health conditions, long-term care programs for chronic conditions, and membership to benefit corporates as well as its direct consumers.

Chik Wai Chiew, Heritas Capital Executive Director, and CEO mentioned that MFine’s collaborative partnership model with doctors and hospitals facilitated by A.I. technologies will allow smart optimization of inadequate healthcare resources to meet demands throughout India and beyond.

As per credible sources, the firm will also conduct a Series C funding round in the upcoming months. In 2019, in a Series B fundraising, MFine had raised USD 17.2 million.

Source Credit –



About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

Related News

Nine Masts selects Bare Cove Technology as its cloud solutions partner

Published Date: 2021-03-08         Author: Pankaj Singh

Shanghai’s renowned hedge fund manager Nine Masts Capital Ltd. has reportedly selected Hong Kong-based IT solutions provider Bare Cove Technology as its cloud technology partner. According to reliable sources the company has completely migrated to Bare Cove’s cloud-managed IT service pla... Read More

Samsung seeks tax incentives from Texas officials to build chip plant

Published Date: 2021-03-05         Author: Pankaj Singh

Samsung, a multinational electronics company, has reportedly submitted paperwork to officials in Texas, in request of a billion dollars in tax incentives. This document has been submitted with an aim to make Austin the future hub for its new chip factory worth $17 billion. As per the documents fi... Read More

Flipkart might buy controlling interest in travel aggregator Cleartrip

Published Date: 2021-03-04         Author: Pankaj Singh

Ecommerce giant Flipkart is reportedly in talks to acquire a controlling share in online travel aggregator Cleartrip, further allowing it to boost its footprint in the highly competitive marketplace. The move by Walmart-owned Flipkart is intended to take on contemporaries such as EaseMyTrip, Book... Read More

© 2021 Fractovia. All Rights Reserved