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 16 crores in this on-going funding round.
Vikram Ramasubramanian, Partner, Inflection Point Ventures, said, “While Homeopathy treatment is well recognised across the globe, the number of people opting for such treatment is also growing exponentially. The main reason for such acceptance is the ability to provide treatment to the root cause, especially chronic disease which is recurring and needs utmost attention. Welcomecure with its unique healthcare solution has been able to offer its patients the much-needed treatment regardless of location. The brand itself has grown multifolds with its ability to offer seamless interaction between its patients and doctors, onboard best caregivers and experts in homeopathic medicine and providing a holistic solution all under a roof. We at IPV look forward to scaling their new age business with strategic guidance and enable the brand to benefit more and more individuals”.
Welcome Cure claims to have 2.5 million platform users and over 1.5 million registered patients in 36 countries. Their software business serves over one lakh doctors in 140+ countries.
Jawahar Shah, Founder, Welcome Cure stated, “Homeopathy has been around for more than 200 years, grown consistently and served humanity. It enjoys acceptance from all socio-economic classes and has a wide presence across the world. As per WHO it is the 2nd largest system of medicine and used in over 100 countries. In a $9 Billion+ market there is immense potential as it’s growing at over 18 per cent CAGR and there is a missing brand which is a name synonym to Homeopathy. Welcome Cure desires to do that and be that. Emerge as the 1st choice when anyone thinks of Homeopathy Care. With IPVs participation in Welcome Cure as an equity and growth investor we are poised to make this vision come to light.”
According to reports, the Homeopathy industry is currently valued at over USD 7 billion and is experiencing a growth rate of 18 per cent CAGR (Compound Annual Growth Rate). Projections indicate that the industry is expected to surpass USD 21 billion within the next 5 to 7 years, indicating significant growth potential in the near future.
Categories: Other News