[Funding News] Healthtech Startup Docplix Raises INR 1.2 Cr in Bridge Round Led by Inflection Point Ventures

Health-tech company Docplix has raised INR 1.2 Crore in Bridge Round led by Inflection Point Ventures. The funds raised will be utilized for product development, AI integration, and market expansion.

This will involve enhancing their EHR system, incorporating advanced AI capabilities to improve decision support and patient care, and expanding their market reach to bring their innovative healthcare solutions to bigger clinics and hospitals.

Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “The govt’s initiative Ayushman Bharat Digital Mission to build a heath ID repository of all citizens for easy exchange of information between the doctors and patients is not a small feat. DocPlix is on a high mission to help citizens and healthcare providers to integrate into a tech enabled healthcare system which can substantially improve patient diagnosis and treatment. At IPV, we have always invested in companies that are using tech for good to bring a real-life change in the lives of the users. DocPlix’s powerful platform, wellness programmes and addressing access to healthcare in tier 2 and 3 towns drove our decision to invest in the company.”

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The company is experiencing rapid growth with its ever-growing customer base and an impressive renewal rate of 93%. DocPlix plans to expand globally, starting with the USA in late 2024, aiming to enter lucrative and technologically advanced markets to further amplify its impact in the healthcare sector.

Dr. Varun Garg: Co-Founder & CEO, Docplix, says, “Our goal is to become the leading EHR provider in India, leveraging advanced technologies like AI and data analytics to transform healthcare delivery. With a strong foundation and the support of IPV, we are poised to scale globally, starting with the USA, while continuously innovating to meet the evolving needs of healthcare professionals and patients.”

DocPlix has achieved significant milestones, including the launch of its proprietary AI model, Pāṇini. The company has built an ecosystem with over 3,000 doctors and has emerged as a market leader in Uttar Pradesh and Uttarakhand.

In 2022, the Indian Electronic Health Record (EHR) market was valued at approximately $414 million, projected to reach $900 million by 2030. Globally, the EHR market was valued at $25 billion in 2022, expected to grow to $40 billion by 2032. Meanwhile, the Indian Lifestyle & Wellness market stood at $1,300 billion in 2024, while the global market reached $5,546.0 billion in 2023 and is forecasted to reach $9,245.8 billion by 2033.

About Docplix

Founded in 2021 by Dr. Varun Garg, Aayush Garg, and Dr. Ajay Shukla, DocPlix operates in the healthcare industry with a mission to digitize health records for 1.4 billion Indians. Our USP lies in providing an ABDM-compliant EHR system with an integrated decision support system (DSS) and innovative visualization tools to enhance patient care and streamline clinic operations.

DocPlix was founded by a team of seasoned professionals: Dr. Varun Garg, Co-Founder & CEO, a dentist with over 10 years of experience; Aayush Garg, Co-Founder & CTO, a B.Tech in CSE with over 8 years of experience in building and scaling tech for startups; and Dr. Ajay Shukla, Co-Founder & CIO, an endocrinologist with a DM from SGPGI, Lucknow, and over 8 years of experience in the field.

DocPlix has built one of the most comprehensive and in-depth AI-enabled Electronic Health Record (EHR) system for doctors, establishing itself as a leader in digital healthcare solutions. With a significant presence across India, DocPlix serves over 2,000 doctors, extending its reach through programs and remote clinics in tier-2 and tier-3 cities to address healthcare needs in underserved areas.

About Inflection Point Ventures and Physis Capital

Inflection Point Ventures (IPV) is an angel investing platform with over 14,000+ CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has announced the launch of a $50 million CAT 2 AIF, Physis Capital, to invest in pre-Series A to Series B growth-stage start-ups. 

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