Digital Health startup MFine has raised $16 million in a new funding round led by Heritage Capital with participation from the Singapore-based family office of Y’S Investment Pte Ltd. Existing MFine investors including SBI Investment, SBI Ven Capital, BEENEXT and Alteria Capital have also followed-on in the round. The oversubscribed round wraps up a strong year for MFine with the company achieving 10x growth amid exponential adoption of telemedicine and digital health in India in 2020.
The COVID-19 pandemic, subsequent lockdown measures, and the release of Telemedicine Guidelines by the Government of India have led to the widespread adoption of telemedicine in India. A new standard for digital health services including health IDs, personal health records, Digi Doctor, and a health facility registry has also been announced in August 2020 under the National Digital Health Mission (NDHM) to support universal health coverage for India’s citizens.
