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Doctor's mobile app Daily Rounds raises Rs 3 crore in seed funding

Daily Rounds, a mobile app that compiles case studies and quizzes for doctors, has raised a seed round Rs 3 crore ($500,000) from venture capital firm Kae Capital.

, ET Bureau|
Last Updated: Mar 13, 2015, 11.19 AM IST|Original: Mar 13, 2015, 11.16 AM IST
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Daily Rounds, a mobile app that compiles case studies and quizzes for doctors, has raised a seed round Rs 3 crore ($500,000) from venture capital firm Kae Capital.
Daily Rounds, a mobile app that compiles case studies and quizzes for doctors, has raised a seed round Rs 3 crore ($500,000) from venture capital firm Kae Capital.
MUMBAI: Daily Rounds, a mobile app that compiles case studies and quizzes for doctors, has raised a seed round Rs 3 crore ($500,000) from venture capital firm Kae Capital, Japanese e-commerce firm Beenos' founder Teruhide Sato and startup accelerator GSF.

The app, available on the Android platform, is currently being used by over 45,000 doctors.

The investment underlines rising interest in mobile application-based healthcare and wellness startups, with services ranging from helping customers book doctor appointments and helping clinics in their internal software management.

The Bengaluru-based startup was founded by Deepu Sebin, an MD in internal medicine, in January 2014. "Doctors create a lot of clinical cases, which are real life patient stories used to keep updated and learn. But most of them are never published," said 31-year-old Sebin.

Other co-founders include Nimmi Cherian, former research officer with IIT-Madras on the Akash tablet project and Priyaank Choubey , who was earlier CTO at another startup called Spiffout.

"The team has done a great job of engaging the doctors on the app by providing them high-quality content. The key metrics on usage of the app by the doctors was compelling enough for us to make an investment," said Kae Capital's Sasha Mirchandani.

One of its new investors, Sato, has also backed a similar company in Japan called Medpeer, which was listed in 2014. Daily Rounds is adding 300 new doctors daily on its platform and is targeting to reach 200,000 doctors by the end of the year with the launch of its iOS application due in the next eight weeks. The startup has also expanded its team to eight people from three.

Daily Rounds has also partnered with AIIMS Endocrinology, WikiDoc (Beth Israel Harvard) for case studies and expects to ramp these up further. While monetisation is not on the cards right now, the company expects to ultimately make money through subcription of premium case studies, advertisements and even analytics, according to Sebin. Several other mobile application-driven plays in the space have received funding over the last one year. The biggest investment was Practo, which helps customers book 120,000 appointments every month, raising Rs 185 crore from Matrix Partners and Sequoia Capital. Other funded players include Lybrate (Nexus Venture Partners), Ziffi (Orios Venture Partners), Qikwell (SAIF Partners) and HelpingDoc (Singapore's Senior Marketing Systems).

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