Highlights:

  • iKure, the Ratan Tata funded start-up, is in talks with investors for raising capital
  • Post investing in the start-up in October 2020, Ratan Tata now is an equity shareholder of the company
  • iKure delivers primary healthcare services via a network of clinics, digital technologies, and frontline health workers

iKure, an enterprise that delivers primary healthcare and wellness services via innovative technology, currently has 160 touchpoints in West Bengal, Jharkhand, and Karnataka cities in India. Based out of Kolkata, India, the tech start-up plans to expand its facilities to about 2,000 in the next four years.

Powered by technology and innovation, the healthcare services enterprise, iKure Techsoft, received funding from Ratan Tata, emeritus Chairman of Tata Sons, two months ago in October. As the company plans expansion in the domestic and international markets and boost its technology solutions, it is also in discussions with investors to raise funds.

This will be a Series A round of funding.

The tech start-up expects the deal to conclude by the end of this fiscal year. On this, Sujay Santra, Founder and CEO, iKure, said, “We are in talks with a couple of investors for raising further funds of around $5 million (around Rs 36.5 crore). We are already talking to some potential investors, both venture (capital) and strategic investors.”

He added, “Basically, for the strategic investors, it could be a combination of equity and quasi-equity instruments as they are looking for a long-term investment. The deal should get concluded within the next three months. We will prefer to raise funds from two-three investors because it will help us strengthen our network.”

After investing in the promising start-up, Ratan Tata is now an equity shareholder of the tech company focused on delivering primary healthcare services via a network of clinics, digital technologies, and frontline health workers.

On the progress front, iKure has covered more than 4,000 villages and seven states in the country, delivering healthcare services to over 10 lakh patients. Moving forward, the innovative tech venture aims to build a network of a tech-enabled hub and spoke healthcare delivery system across the Indian rural diameter.

Mr. Santra on expansion plans,

“We are looking to serve one crore patients through the expansion of our clinics. We have plans to set up 200 clinics across the country in the next four years. At present, we have 10 clinics.”

On the networking front, the company has built 160 touchpoints in West Bengal, Karnataka, and Jharkhand and plans to expand its facilities to close to 2,000 in the next four years. Not just this, but the company has programmatic interventions operating in Odisha, while digital health centers are operational in Nagaland.

Internationally, eight countries in the African continent have deployed iKure’s technology, and the company has recently entered Vietnam. It looks forward to expanding and strengthening its technology solutions in Africa and Southeast Asian countries.

“We are looking to enter Indonesia, The Philippines and Cambodia,” said Santra.

iKure Techsoft details

iKure Techsoft earns revenue collectively from its healthcare solutions and technology platforms, research services, and corporate training programs.

On the innovation front, the tech start-up has joined hands with the University of Michigan on creating an interactive tool for maternal and child health monitoring and routine assessment.

The company has also partnered with McGill University, Canada, to develop an AI-enabled framework to identify the high-risk hypertensive Asian population.