Welltopia receives first round of Funding for its Telemedicine Venture
Welltopia who has been the frontrunner in Delhi NCR in field of Lifestyle Disease Consultation, Life Coaching and Anti-aging treatment and this year it has entered into the Telemedicine field. After a long discussion with Healthstart team, the Healthstart (a Healthcare VC/Incubator) has funded Welltopia with INR50 Lacs for the exchange of 3.33% equity in Telemedicine arm of Welltopia. This gives Welltopia’s Telemedicine a valuation of INR15 Crore, which is likely to go up as the project grows further.
Noida, October 14th 2019: in a meeting with Healthstart team led by its CEO Mr. Vishal Bansal, Welltopia (represented by its founder, CEO – Dr. Sandeep Gupta) signed an MoU to receive funding of INR5MN (INR50 Lacs) in exchange of 3.33% of equity in its Telemedicine project.
Dr. Gupta, further added that for Telemedicine, Asia Pacific is estimated to be the fastest growing region due to a huge patient pool and growing Telemedicine sector. Moreover, the presence of continuously developing economies like India, China and Australia within the region fuels the market growth. According to the Indian Brand Equity Foundation in 2017, telemedicine sector was estimated to be a fast emerging sector in India. The Indian Telemedicine Market is estimated to reach USD 32 million by 2020. It’s growing @ 19% p.a. Thus, market size should reach at least $76mn by 2025.
With these figures in mind, in next five years, Welltopia aims to capture at least 5% market share in India that’d give Welltopia a revenue base of US$3.9mn or INR300mn (INR30 Crore) by 2025.
About the Company
“Welltopia” – The premium healthcare and life enhancement center came into existence in 2018. The company provides gamut of services that improves and enhances quality of human lives. Welltopia focuses on Lifestyle Diseases consultation, Life Coaching and Anti-aging Treatment.
The company has been recognized as one of top 10 life coaching companies in India and also the best Healthcare OPD Chain in U.P.
The Company is managed by the CEO, Dr. Sandeep Gupta, a strategic leader and innovator. Qualified doctors and assistants will be hired along with administrative staff to assist him in daily operations.
The mission of Welltopia is to provide holistic care to achieve wholesome health at its centers across the country. It aims to improve the quality of life of members of community by offering them high quality patient-focused health care options at affordable pricing.