19 October 2023 | News
Funds will be utilised for growth, including talent acquisition, technology enhancement and marketing initiatives
image credit- shutterstock
Welcome Cure has raised over Rs 4 crore in Pre-series A round led by Inflection Point Ventures (IPV). The funds will be utilised for growth, including talent acquisition, technology enhancement, and marketing initiatives. IPV has led the round and Welcome Cure is looking at raising over Rs 16 crore in this on-going funding round.
The Mumbai-based startup addresses the growing demand for sustainable and holistic healthcare by providing a comprehensive one-stop solution in the fragmented homeopathy market, offering convenient online and offline services for diagnosis, treatment, and monitoring, with a focus on prevention and overall well-being.
Its unique proposition lies in the integration of proprietary Assisted Intelligence (AI) solutions, which serve as a valuable decision support system for physicians. This AI-powered technology enhances diagnostic accuracy, treatment selection, and monitoring, ensuring optimal patient care.
Within the last couple of years alone, the company has apparently achieved a cumulative business of over Rs 45 crore, demonstrating its strong presence in the alternative medicine space.
The homeopathy industry is currently valued at over $7 billion and is experiencing a growth rate of 18% Compound Annual Growth Rate. Projections indicate that the industry is expected to surpass $21 billion within the next 5 to 7 years, indicating significant growth potential in the near future.