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Medikoe raises $100,000 funding

A Bengaluru-based online platform, Medikoe is planning to expand its presence in Mumbai and Delhi-NCR region by December this year, and further in 20 cities by 2016. As a clear step in this direction, the company had raised $100,000 in angel funding from Anil Menon, CEO of CMS Computers Limited.

Medikoe provides connecting services between the consumers and the healthcare suppliers including, hospitals, diagnostic centre, pharmacy and wellness, on its Android app platform. The highlight of this new service founded by IT professionals Sreevalsan Menon (39) and Raman Shukla (32) in October this year, is to offer integrated deals on healthcare from five percent to 30 percent on one platform. As a result, Medikoe offers customer convenience with two easy click steps.

With this initial round of funding, the company sees a potential to raise its presence by penetrating deeper into the Indian market, as well as assist in creating a global products platform to attend to an international audience at the same time. Some of the key partners includes Manipal Hospitals, Jiyo Natural(healthy food), NM Medical Diagnostic, Nightingales Home care, Positive Homeopathy, to name a few.

As reported by, Medikoe as a concept came about when Menon could not get a medicine at night that he wanted when he was staying at a five star hotel in Mumbai and worse, did not know where to procure it from in the vicinity. Medikoe stands for medical and koe for happiness. “Medikoe is about accessing healthcare with happiness. However, we are not aggregators for doctors,” clarifies Menon, Founder and CEO.

The company did a survey before launching the online platform and found that there existed a major gap between the supply side and consumers which is what it aims to bridge. The service as of now is available only in Bengaluru but with the angel funding it has received, Medikoe plans to offer its services and offers pan India including Tier-2 and Tier-3 cities. “We want to have first mover advantage in cities like Kanpur, Lucknow and other Tier 2 and 3 cities,” says Menon, founder and CEO.

As further implied by Menon in his statement to the press, the company has grown beyond its initial expectation of just having targeted 100 users in the beginning of its launch. The number of visitors to the platform has now reached 1800+. As a direct positive impact, more and more integrated deals are being accessed with their 1500+ registered partners. Medikoe management is optimistic about 100 percent Year on Year growth in the first year of operations.

Source: with inputs from
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