Monday, 26 February 2024

Welcome Cure raises Half a million $ in Pre-series A Round led by Inflection Point Ventures in its on-going Funding Round

Welcome Cure is a fully integrated Homeopathy Technology company that offers Assisted intelligence (AI)-powered solutions for doctors and patients, ensuring both effective prescriptions and convenient access to healthcare regardless of location

Welcome Cure has raised over 4 Crores in Pre-series A Round led by Inflection Point Ventures (IPV). The funds will be utilized 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.

Welcome Cure addresses the growing demand for sustainable and holistic healthcare by providing a comprehensive one-stop solution in the fragmented homeopathy market, offering convenient online and offline services for diagnosis, treatment, and monitoring, with a focus on prevention and overall well-being.

Welcome Cure is led by a team of experienced and accomplished individuals. Dr. Jawahar Shah, the Founder, brings 45 years of clinical practice as an MD in Homeopathy and holds a post-graduate degree from London. Punit Desai, the Co-founder, and CEO, contributes his expertise with an MBA and over 10 years of entrepreneurship experience. Nidhi Desai, the Co-founder, and COO, also brings an MBA and over 10 years of entrepreneurship experience to the team. Together, they form a strong leadership that drives Welcome Cure's mission to provide holistic healthcare solutions through their innovative platform.

Vikram Ramasubramanian, Partner, Inflection Point Ventures, says, “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 operates at an impressive scale, with 2.5 million platform users and 1.5 million+ registered patients in 36+ countries. Their software business serves over 1 lakh doctors in 140+ countries.

Welcome Cure stands out in the healthcare industry with its modernized homeopathy and holistic care solutions, catering to patients' needs in a comprehensive manner. Their unique proposition lies in the integration of proprietary Assisted Intelligence (AI) solutions, which serve as a valuable decision support system for physicians. This AI-powered technology enhances diagnostic accuracy, treatment selection, and monitoring, ensuring optimal patient care. Welcome Cure's commitment to an integrated and 360-degree technology-powered solution further solidifies their position as leaders in the homeopathy domain.

Dr. Jawahar Shah, Founder, Welcome Cure says, “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% 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.”

Welcome Cure has achieved remarkable organic growth since its inception, with a positive return for the past two years. Within the last couple of years alone, the company has achieved a cumulative business of over 45+ crores, demonstrating its strong presence in the Alternative Medicine space. The startup and its founders have also received recognition and accolades from esteemed institutions and bodies, including testimonials and awards from Prime Minister Narendra Modi, the Ministry of Electronics & IT, and other prestigious organizations.

The Homeopathy industry is currently valued at over 7 billion USD and is experiencing a growth rate of 18% CAGR (Compound Annual Growth Rate). Projections indicate that the industry is expected to surpass 21 billion USD within the next 5 to 7 years, indicating significant growth potential in the near future.

Published on : 19th October, 2023