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YOLO Health, a Mumbai-based healthcare start-up, has raised an undisclosed amount of funding from investment network Chandigarh Angels Network (CAN).
Started in 2015 by three IITians, the start-up provides walk-in kiosks (called ATMs) with integrated medical devices, and is staffed by a medical attendant.
Patients can walk into a YOLO Health ATM without an appointment and get a quick health check-up and instant health report or consult with healthcare providers via high-definition video conferencing.
YOLO co-founder Dhilly Babu told BusinessLine that the concept of such health ATMs was inspired from the banking system where all basic banking services are now delivered through an ATM without the consumers walking into a bank. Such ATMs also help banks cater to people even in remote areas that are inaccessible through the traditional banking system, he added.
“This year, the focus will be to strengthen our existing product and technology capabilities to deliver better virtual-care experience while expanding and scaling our existing virtual-care touch points through closely collaborating with private hospitals, State governments and CSR foundations,” said Babu.
YOLO, which has on-boarded some marquee clients such as Dr Balabhai Nanavati Hospital, Glocal Hospitals, Dell, Intel Corporation, Indian Railways, IRCTC and Essar Steel, is planning to set up 100 virtual-care touch-points across rural and urban communities to deliver quality and affordable healthcare, in 2017, Babu said.
The 13-member company will use the funding to strengthen the existing product development and pipeline of newer products focussed on bringing forward more advanced and intelligent Health ATMs, along with generic drug-dispensing. Also, a significant amount will be used for backing clinical and regulatory compliance, R&D and marketing.
Kunal Nandwani, lead investor at CAN and CEO of financial technolgy firm uTrade Solution, said: “It’s more of a social investment for us. We hope to drive the healthcare ATMs to the under-privileged areas around the world.”
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