Medical tourism startup Hospals has raised $1.5 million in a round led by Japanese early-stage venture capital fund Spiral Ventures and incubation platform Venture Catalysts.
The funds raised will be used by the company to expand its operations across India, the Middle East and North Africa.
Danish Ahmed, Co-founder of Hospals, said, "Cross-border healthcare is a $100-billion market globally, and India, the fastest-growing country in this space, is expected to generate $9 billion in revenues by 2020. That’s a huge opportunity, but the market is still very unorganised and disconnected. At Hospals, we're combining technology and operations to build a one-stop shop for international patients."
Yasuhiro Seo, Partner at Spiral Ventures, said, "With a multilingual, tailored mobile-technology based platform, Hospals has successfully created a solution which addresses the pain points in the healthcare ecosystem. Japanese corporates are extremely bullish to partner with healthcare companies in India and Spiral Ventures can facilitate possible partnerships."
