Companies

PurpleHealth raises $100,000 from Katabole Venture

Rajesh Kurup Mumbai | Updated on January 20, 2018 Published on May 17, 2016

Poised for growth PurpleHealth.com co-founders Vikram Nair, MiniBalaraman and Prakash Sathyapalan

To use funds to expand team and offer new products

PurpleHealth.com, a Thiruvananthapuram-based health-on-demand platform, has raised seed funding of $100,000 from Mumbai-based private equity firm Katabole Technology Venture. The firm will use the funds to build its product roadmap and strengthen the team.

“The funds would be utilised for product development, marketing activities and expanding the team,” said Vikram Nair, co-founder and CEO of PurpleHealth.com, confirming the development.

Founded in 2014, PurpleHealth.com provides access to doctors, hospitals and procedures and health-related products and services.

At present, the platform has on board more than 38,000 doctors and 4,000 hospitals.

The other co-founders are Mini Balaraman, who serves the company as President and COO, and Prakash Sathyapalan, who is CTO.

Scale of problems

“We found PurpleHealth interesting as the company is focusing on the common man and is building an entire ecosystem for the common people. It recognises the scale of the problems the health space presents, and looks for solutions involving all stakeholders,” said Katabole founder and CEO Balaji Jagannathan.

Katabole, an early stage investor that typically invests about ₹25 lakh to ₹1 crore in each investee firm, is focused on disruptive ideas across education, healthcare, fintech, digital, security, storage, mobile and data analytics. It has already invested in two start-ups, while two others are in the pipeline.

The Indian healthcare sector is expected to register an annual growth rate of 22.9 per cent between 2015 and 2020 and grow to $280 billion.

Published on May 17, 2016
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