Health-tech startup PlusPin which is based in Hyderabad has received INR 5.25 cr in an investment round attended by a bunch of investors of Indian Angel Network (IAN) including former Google India head Ranjan Anand, who at present is working as a managing director in Sequoia Capital. IAN is one of the most prominent and active angel networks in India, which has invested in more than 110 startups including Druva Software, SP robotics, FarEye and Unbox Ltd.

PlusPin was established in the year 2017 by Gopal Krishna Panigrahy and Santosh Kumar Panda. This startup is a digital platform for retail pharmacy stores that offers customized healthcare services including diagnostic and healthcare at home.

Currently, PlusPin is having over 200 pharmacies in Hyderabad and more than 70 healthcare providers on its platform. Before the inception of PlusPin, Gopal Krishna was an engineering program manager at US-based global interactive entertainment software company Electronic Arts. He was earlier associated with Accenture and Tata Consultancy Services. Panda was a program manager at Microsoft before taking up this entrepreneurial venture.

He earlier worked with companies such as Nokia and Motorola. Sanjay Jesrani, Vinay Tulla and Kiran Peddi also participated in the funding round. Other investors such as Munjal Group, existing angels including Ambicare Clinics and investment firm Axilor Ventures also contributed to the funding. PlusPin Healthcare, which is operated by Weeclu Solutions Pvt Ltd, will utilize the fund for geographical expansion, bolstering its technology and amplifying customer care experience. The company also maintained that all big and small healthcare players will benefit from PlusPin’s OTT platform and will be able to utilize its network for launching and promoting their products within an affordable budget.

According to DataLabs by Inc42 estimates, the total market size of the healthcare industry in India is projected to be $202 Bn this year. This is a growth of 84% from the $110 Bn market size in the year 2016. The healthcare sector has gained significant investor interest as well. According to DataLabs, healthcare startups have raised $1.9 Bn across 405 deals between 2014-H1 2019.