Healthtech AI start-up mfine has raised about ₹120 crore ($17.2 million) in a Series B funding round led by SBI Investment, a Japan-based venture capital firm and a subsidiary of the SBI Group. Singapore-based SBI Ven Capital, which is SBI Group's South-East Asian investment arm, and tech-focussed venture capital firm BEENEXT participated in this round, along with existing investors Stellaris Venture Partners and Prime Venture Partners.

Founded in February 2017, mfine will use the money to expand its hospital network, build its AI technology and expand the recently launched additional services including delivering medicines, conducting preventive health screenings and diagnostic tests.

Over one lakh customers have consulted on mfine in the last 15 months and its customer base is growing 30 per cent month-on-month.

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