Practo Raises Rs 574 Crore In New Round Led By Tencent, Sofina

06/08/2015 3:56 PM IST | Updated 15/07/2016 8:25 AM IST
ChinaFotoPress via Getty Images
BEIJING, CHINA - APRIL 28: (CHINA OUT) Ren Yuxin, chief operating officer of Tencent, speaks during the 2015 Tencent Open Strategy Annual Conference at National Convention Center on April 28, 2015 in Beijing, China. The 2015 Tencent Open Startegy Annual Conference got held at National Convention Center and COO of Tencent delivered a speech that Tencent would start new integration of resources to created more innovative and entrepreneurial platform for society. General Secretary of Internet Society of China Lu Wei, COO of Tencent Ren Yuxin, vice president of Tencent Mobile Business Group Lin Songtao and general manager of Tencent Open Platform Hou Xiaonan attended the conference. (Photo by ChinaFotoPress/ChinaFotoPress via Getty Images)

Practo Technologies Pvt. Ltd., an online healthcare platform, has raised Rs 574 crore ($90 million) in its latest round led by China's Tencent, along with new investors Sofina, Google Capital, Altimeter Capital, and billionaire Yuri Milner, founder of DST Global.

Existing investors Sequoia India and Matrix Partners, who had led a $30 million round in the Bangalore-based startup in February, also participated. The company has raised $125 million (Rs 800 crore) since its launch in 2008.

"Millions of users trust our platform every month and with our international expansion we aim to take Practo to billions of people globally," said Shashank ND, founder & CEO, Practo. The company operates two apps, B2B software product Practo Ray, and the online medical appointment scheduler Practo Search.

The new funds will go into expanding its reach to 100 cities in India from the current 35, and to 10 countries worldwide. Practo will also invest to broaden its product lines and acquire companies, besides hiring more people to its current strength of 1,500 employees.

This is the first investment in India by Tencent, China’s second-largest Internet company. “We are very excited to partner with Practo as one of our first few investments in India. We look for ambitious, visionary Internet companies that are improving people’s lives at a global scale. Practo is a digital healthcare leader and one of the fastest growing healthcare companies in India," said Hongwei Chen, senior director of investment and M&A, Tencent, in a statement.

Practo currently has 200,000 healthcare practitioners on its platform and over 10 million monthly searches by consumers for doctors and diagnostic centres.

Like Us On Facebook |
Follow Us On Twitter |
Contact HuffPost India

More On This Topic