AI-driven healthcare start-up mfine has raised $17.2 million in Series B funding led by SBI Investment, a Japan-based venture capital firm and a subsidiary of the SBI Group.

Tech-focussed global venture capital firm BEENEXT also participated in the round alongside existing investors — Stellaris Venture Partners and Prime Venture Partners.

The start-up provides its users access to virtual consultations and connected care programmes from the country’s top hospitals.

The company will use the funds to expand its hospital network across the country, build its AI technology, and expand its recently launched additional services, which include delivering medicines and diagnostic tests.

Founded in 2017 by Ashutosh Lawania (Myntra co-founder) and Prasad Kompalli, a former business head at Myntra, mfine has raised over $24 million and has 200 employees in Bengaluru and Hyderabad. “The current funding is an endorsement of mfine’s unique model of working with reputed and accredited hospitals, and using technology to make quality healthcare accessible,” said Prasad Kompalli.

Over 1,00,000 customers have consulted on mfine in the last 15 months, he said. Over 500 MD/MS doctors practise across 20 specialities on mfine.

In the next 12 months, mfine plans to bring together 250 hospitals from 10 cities onto its virtual hospital platform.