<keyword id="2534058" type="General" weightage="50" keywordseo="healthtech" source="Orion">Healthtech</keyword> unicorn <keyword id="2848710" type="General" weightage="100" keywordseo="innovaccer" source="Orion">Innovaccer</keyword> has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> and the US, the media reports said on Tuesday. Innovaccer cofounder and CEO <keyword id="3561958" type="General" weightage="50" keywordseo="abhinav-shashank" source="Orion">Abhinav Shashank</keyword> cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. "Innovaccer has always believed in empowering its customers to accelerate their transformations, leading to higher quality care for patients and populations, improved patient experiences, and better financial and operational performance," <keyword id="3452" type="General" weightage="50" keywordseo="shashank" source="Orion">Shashank</keyword> was quoted as saying in the email. The startup said it will provide severance packages to affected employees, as well as transitional health insurance benefits and job placement assistance. This is the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce, owing to "tough economic conditions", and most of the layoffs occurred within its tech teams. Innovaccer had said that its business fundamentals are still strong. However, "given the current economic conditions, we implemented a small workforce reduction to optimise our cost structure", said the company. The startup raised $150 mn in its <keyword id="45633" type="General" weightage="20" keywordseo="series" source="Orion">Series</keyword> E round at a valuation of $3.2 bn in February 2022. In December 2021, Innovaccer raised $150 million, driven by rapid customer adoption of the <keyword id="16233858" type="General" weightage="50" keywordseo="innovaccer-health-cloud" source="Orion">Innovaccer Health Cloud</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/egyptian-researchers-digitally-unwrap-2300-year-old-mummy-to-find-gold-and-other-amulets/articleshow/97297512.cms">Egyptian researchers digitally unwrap 2,300-year-old mummy to find gold and other amulets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/equity-markets-have-usually-been-nervous-ahead-of-budget-but-a-relief-rally-is-likely-post-budget/articleshow/97286146.cms">Equity markets have usually been ‘nervous’ ahead of budget but a relief rally is likely post budget, say analysts</a>

Healthtech unicorn Innovaccer lays off 245 workers, 2nd job cut in 5 months

<img class="gwt-Image" src="/photo/49907979.cms" style="width: 800px; height: 600px;" /> In the world of start-ups there is one saying that is held as the gospel truth-that there has got to be a problem that you want to solve. Some of the world’s biggest disrupters, including the likes of Steve Jobs, Mark Zuckerberg amongst others have believed in the ‘you need to want to solve a problem’ theory with utmost faith. It is in this belief that germinates an idea that amongst everything else impacts human lives and changes it for the good. That is exactly what <keyword id="1165145" type="UNKNOWN" weightage="100" keywordseo="Shashank-ND">Shashank ND</keyword> and Abhinav Lal have managed to do with <a href="http://www.businessinsider.in/Booked-an-appointment-with-a-doctor-on-Practo-Uber-will-make-sure-you-dont-miss-it/articleshow/49800904.cms">Practo</a>-now one of the world’s largest <a href="http://www.businessinsider.in/Technology-Trends-That-Are-Revolutionising-Indian-Healthcare/articleshow/45284705.cms">online health services platforms</a>, when they set out as 20-something gullible, but eager-to-learn college students. 
 Since its inception in 2008, from Shashank’s father’s modest 3-bedroom house in Bangalore, today <keyword id="1165142" type="UNKNOWN" weightage="100" keywordseo="Practo">Practo</keyword> has become India’s largest digital <a href="http://www.businessinsider.in/Good-surveillance-could-be-the-lifeline-of-Indias-healthcare-system/articleshow/47342852.cms">health services</a> company, having raised a neat $124 million in funding, one of the largest outside the ecommerce space. It also boasts of a loyal network of over 10,000 <a href="http://www.businessinsider.in/How-about-a-Rolls-Royce-ambulance-or-a-fine-dining-restaurant-in-a-hospital-Welcome-to-5-star-healthcare-in-India/articleshow/47456269.cms">hospitals</a>, 5000 diagnostic centres and over 2 lakh doctors spread across 35 cities in India. It has also recently acquired four companies: Qikwell, a doctor appointment seeking platform; FitHo, a preventive health platform; Genii, a product outsourcing firm and Insta Health Solutions, a hospital information management company. So formidable has been the company’s growth that it has also recently entered the South East Asian market with launches in Malaysia, Indonesia, Philippines and Singapore. 
 
Business Insider caught up with the maverick, unassumingly charming, go-getter co-founder of Practo, Shashank ND to talk about everything that is ‘Practo’. 
 
Let’s start from the beginning. When did the idea of starting a digital company in the <keyword id="6354525" type="COMPANY" weightage="100" keywordseo="Healthcare">healthcare</keyword> space seem like a viable option? 
 
The intent was to create a company where people would want to come despite having the Monday blues. (smiling) Where people hopefully would have the Friday blues. It is not about the numbers, it is about the emotions. I came across entrepreneurship in the second year of my college. It was really early when I was exposed to the whole world. Today it is main stream to start a company, but in 2008 it was quite a path off the road. Entrepreneurship fascinated me as it was about doing things others have not yet done. 
 
What was the personal aspect that egged you into this? 
 
It was an operation that my dad had to go through in 2008 around his knee. I was the techie in the house. My mom handed me the health reports and asked me to send them to a doctor in the US for a second opinion. I remember taking photographs and printing and then scanning them to send to the doctor in the US, and thinking to myself that if the scanning had problems, some of the data in the reports would be unclear or even lost in the transmission. So, I approached the doctor here who said he couldn’t digitize the reports simply because he didn’t have the ‘email’ button on the platform where the reports were stored. This guy had equipment worth crores, generating revenues in crores, but he didn’t have an email button. 
 
The first thing that occurred to me was why people weren’t storing their own medical records in the digital format. You didn’t have any digital data about your health and it’s funny because that is the one thing that you should have all in one place. People in fact stored every other irrelevant, bizarre matter in their phones, but not the most important one about their health. I saw that this was a global problem. The reason was that the doctors were not able to generate digital data. It’s not for the patients to do. Microsoft World and Google Health were doing the opposite. They were encouraging patients to digitalise their own data. 
 
Did it cross your minds that you could be betting on the wrong stuff, going against Microsoft and Google? 
 
Definitely. It was just like David going against Goliath at its best. In my father’s 3 BHK house we decided to build this out. Sitting and validating the fact that the thing on which all of Silicon Valley was working on is wrong, is plain crazy. But we were not worried about being wrong. What we were worried about was how to solve the problem. 
 Abhinav, my co-founder and I, sat together and built our first software <keyword id="1165143" type="UNKNOWN" weightage="20" keywordseo="Practo-Ray">Practo Ray</keyword>, which had an email button. At each point we got validated. The first validation came from the users. In Bangalore there were 10-15 doctors we sold the software to at first. Changing the system is done best with a bottom-up approach. For 2 years we ran it on our own without any money. Then it just took off. We did what was right. Kept our ego aside and ran the business. Validation came every 2-3 months and accordingly we made changes. It so became that I couldn’t stomach appreciation, I could only take criticism. In fact, now when people say we are doing something wrong, I find that amazing, because it means they are noticing our work. 
 
What do you see as challenges at this stage? 
 
The biggest challenge is the communication culture. How do you make people aware about what you are doing? How do ensure that we keep our outputs equal to the expectations that the rest of the world have of us. Being a global company with the largest space in India, culturally, how do we ensure that we continue to grow? 
 
How difficult was it to make people buy your product? At what stage did you realise that acquisitions and tie-ups would be the way forward? 
 
Acquisition is the fastest way to grow. It is a good way of saving multiple years. It is just about saving time and having more impact. Basis the problems we face, we decide where or who to go to. We have 200,000 professionals today on our platform. 
 
In Practo, you have essentially married technology with healthcare, a sector that is completely inundated with infrastructure issues. What has been your takeaway there? 
 
There are 2 things, failure at the doctor level and that at the public level. Our App tells you where you have to go and how much time you have to wait. You can meet the doctor at the right time. A Qikwell product that we have acquired recently reduced waiting time for patients from 30 minutes to 8 minutes. We are bringing systemic efficiencies into the hospitals in the way they are run. 
 
How have hospitals accepted the technology, including the big chains? 
 
Everyone knew us and that worked in our favour. Reputation and acquisition helped us. 
 
What is the next step? Global expansion? 
 
We are targeting countries where we are seeing mobile internet integration on the rise. We are looking to <a href="http://www.businessinsider.in/Practo-seeks-Rs-400-cr-from-global-investors-to-expand-its-leadership-in-India/articleshow/47599663.cms">invest</a> in developing countries. First preference is Latin America. We have started our ground work in the Middle East too. Our approach in entering new countries has been to launch the consumer product first. We targeted the consumers first there. But, before that we made sure that the doctors are listed on our platform. 
 
So, Now that Practo is safely on its way to becoming a truly global company, do you get time to unwind? You are young. Do you take time out for things like partying, watching movies and other things that people your age like doing? 
 
(Laughs)Yes. I do party. Now I get more time than earlier. Even then it is about prioritising. Choosing between the two parties and two movies that I want to go for. Even at work it’s about prioritising. I also now get time to travel. 
 
(Image credits: yourstory)

EXCLUSIVE: Practo Co-Founder says taking global Internet giants head-on was crazy, but solving the problem at hand was more important

New Delhi, As global layoffs deepen, Indian startups are not far behind and have sacked thousands of employees in the past 3-4 months, with many more to be given pink slips in the coming months amid deepening funding winter. In <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>, more than 21,000 employees have been laid off by more than 70 startups to day, including from unicorns like BYJU'S, <keyword id="6354720" type="General" weightage="80" keywordseo="ola" source="Orion">Ola</keyword>, MPL, Innovaccer, Unacademy, Vedantu, Cars24, <keyword id="2808667" type="General" weightage="50" keywordseo="oyo" source="Orion">OYO</keyword>, Meesho, Udaan and many more. The edtech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees to date. With the onset of January, more and more Indian companies are slashing jobs across the spectrum. The new year has already seen more than 16 homegrown startups sack employees in the country. Social media company <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword> (Mohalla Tech Pvt Ltd) has laid off 20 per cent of its workforce due to uncertain market conditions. Backed by Twitter, Google, Snap and <keyword id="526777" type="General" weightage="80" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, ShareChat has about 2,300 employees, and the layoff impacted about 500 people at the company, Healthtech unicorn Innovaccer has sacked nearly 245 employees, or about 15 per cent of its workforce, across teams in India and the US. Innovaccer cofounder and CEO Abhinav Shashank cited an "uncertain macroeconomic environment" as the reason behind the job cuts, according to an internal mail sent to employees and accessed by leading startup news portal Inc42. This was the second layoff at the company in around 4-5 months' time amid the deepening funding winter and recession fears. In September last year, Innovaccer laid off nearly 120 employees, or less than 8 per cent of its workforce. Online food delivery platform <keyword id="6358977" type="General" weightage="50" keywordseo="swiggy" source="Orion">Swiggy</keyword> confirmed that the company is laying off 380 employees as food delivery growth slows. MediBuddy, an end-to-end digital healthcare platform in India, has laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. Homegrown online vehicle repair platform GoMechanic, backed by <keyword id="563136" type="General" weightage="50" keywordseo="sequoia-india" source="Orion">Sequoia India</keyword>, has laid off 70 per cent of its workforce as the startup struggles to raise funds amid serious concerns of accounting troubles. The company has asked the remaining staff to work without pay for three months, according to reports. Software-as-a-service (SaaS) voice automation startup Skit.ai has asked more than 115 employees to go, mostly from its India team, as part of the "restructuring process" amid the deepening funding winter. Even IT giant <keyword id="10862" type="General" weightage="50" keywordseo="wipro" source="Orion">Wipro</keyword> has laid off more than 400 fresher employees for poor performance in internal assessment tests. SEE ALSO: <a href="https://www.businessinsider.in/budget/news/budgeting-for-climate-change/articleshow/97378027.cms">Budgeting for the fifth C</a> <a href="https://www.businessinsider.in/business/news/an-app-that-wants-to-turn-fear-of-stock-markets-into-fun-raises-75-lakh-from-sharks/articleshow/97378121.cms">An app that wants to turn fear of stock markets into fun raises ₹75 lakh from sharks</a> <a href="https://www.businessinsider.in/india/news/steps-taken-in-subsidence-hit-joshimath-inadequate-declare-himalayas-eco-sensitive-zone-say-experts/articleshow/97411665.cms">Steps taken in subsidence-hit Joshimath inadequate, declare Himalayas eco-sensitive zone, say experts</a>

70-plus Indian startups show exit door to 21K techies, more pink slips coming

<ul><li><keyword id="2848710" type="General" weightage="20" keywordseo="innovaccer" source="Orion">Innovaccer</keyword> has raised $150 million led by Mubadala Capital, at a valuation of $3.2 billion.</li><li>Facebook’s cofounder Eduardo Saverin-led B Capital, Microsoft’s M12 fund also participated in the round.</li><li>The company is looking to hire 100 individuals across engineering, product, and business functions.</li></ul>Noida and San Francisco-based Innovaccer is now valued at $3.2 billion, after raising $150 million in a funding round led by Mubadala Capital. Existing investors Facebook’s cofounder Eduardo Saverin-led B Capital, Microsoft’s M12 fund, Tiger Global, Steadview Capital, OMERS Growth Equity, Dragoneer also participated in the round, along with new investors Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors. Innovaccer has crossed the valuation of Indian startups like vernacular social media platform ShareChat, online investment platform Groww, merchant platform PineLabs, and others. The company’s funding announcement coincides with surgical care startup Pristyn Care raising <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-valued-at-over-a-billion-dollars/articleshow/88294474.cms">$96 million at a valuation of $1.4 billion</a>. It is the second healthtech to enter the unicorn club. A unicorn, in startup parlance, is a company valued over billion dollars. Innovaccer was founded in 2014 by Indian Institute of Technology (IIT)-Kharagpur graduates Abhinav Shashank and Kanav Hasija, and Indian Institute of Management (IIM)- Ahmedabad alumnus Sandeep Gupta. The company analyses healthcare data to provide actionable insights to healthcare providers, hospitals, insurance companies and other businesses. The US is its biggest market. The company plans to use this capital to invest in research and development (R&amp;D) and hire as it rapidly scales its customer success, product, and engineering talent. The company currently has 100 vacancies across engineering, product, and business functions. Key hiring by Innovaccer in 2021 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Position </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Anil Jain </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief Innovation Officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Brian Silverstein </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief Population Health Officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dan Guggenheim </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief Legal Officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sonali Damle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chief People Officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Andy Burtis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Chief Marketing Officer </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sean Hogan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">General Manager for Provider Business </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jeff McHugh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Regional Vice President of Sales </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “The company plans to release a unique portfolio of Innovation Accelerators in 2022 to help healthcare organisations tackle the most common and high-impact use cases in a fraction of the time required with traditional methods and technologies,” Abhinav Shashank, cofounder and chief executive officer (CEO) of Innovaccer, told Business Insider. The company claims to have over 50 accelerators on our platform that are helping it solve use-cases like customer relationship management (CRM), physician engagement and more. As per the company, Innovaccer’s solutions have been deployed across more than 1,000 care settings in the United States, helping more than 37,000 providers. In the last 12 months, the company has added 50 customers including Roche, CommonSpirit, Franciscan Health, Dayton Children’s Health Partners and St. Luke’s Health System. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/state-bank-of-india-to-sell-stake-in-sbi-mutual-fund-ipo/articleshow/88292698.cms" data-type="tilCustomLink" style="">SBI Mutual Fund to come up with an IPO; SBI to sell 6% out of 63% stake via the public issue</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-1rs-data-plan-recharge-benefits-cheapest-4g-data-plan/articleshow/88292543.cms" data-type="tilCustomLink" style="">At ₹1, Reliance Jio’s latest data pack is the cheapest in the world – costs less than a packet of water</a> <a href="https://www.businessinsider.in/science/health/news/google-says-workers-that-those-who-do-not-comply-with-vaccination-policy-will-eventually-lose-their-jobs-cnbc/articleshow/88291338.cms" data-type="tilCustomLink" style="">Google says workers that those who do not comply with vaccination policy will eventually lose their jobs: CNBC</a>

India’s first healthtech unicorn Innovaccer is now valued more than PineLabs and ShareChat

<ul><li>The two new <keyword id="2023017" type="ORGANIZATION" weightage="20" keywordseo="unicorns">unicorns</keyword> are <keyword id="2848710" type="PERSON" weightage="20" keywordseo="Innovaccer">Innovaccer</keyword>, a healthtech firm, and <keyword id="8032183" type="UNKNOWN" weightage="20" keywordseo="Infra-Market">Infra.market</keyword>, a startup in the real estate space.</li><li>While Innovaccer’s valuation jumped three times in seven months to $1.3 billion, Infra.market’s valuation was last known to be just $200 million in December 2020.</li><li>While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date.</li></ul>India added two new unicorns this week to its rapidly growing club of <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> with over a billion dollar valuations. Innovaccer, a healthcare technology company, and Infra.market, a startup that helps real estate companies to procure materials, have both raised funds this week and become the latest unicorns. Interestingly, both the companies have seen their valuations swell in just a matter of months, in a pandemic period. Innovaccer’s valuation jumped three times in seven months to $1.3 billion and Infra.market’s valuation was last known to be $200 million in <a href="https://techcrunch.com/2021/02/25/infra-market-becomes-newest-indian-unicorn-with-100-million-fundraise/">December 2020</a>, and within three months its valuation has crossed a billion dollars. The startups are not like many other Indian companies who have raised billions of dollars. Instead, both the startups have achieved the status with minimal funding. While Innovaccer, founded in 2014, has raised a total of $225 million, the four-year old Infra.market has raised $150 million till date. What does Innovaccer do? Through a Data Activation Platform, Innovaccer connects healthcare data across verticals, and provides unified patient records as well as insights for better patient outcomes. The San Francisco-headquartered startup claims that by the end of 2021, it would have grown with a Compound annual growth rate (CAGR) of 5%. Innovaccer was founded in 2014 by Indian Institute of Technology (IIT) graduates Sandeep Gupta, Abhinav Shashank and Kanav Hasija. With the latest fundraise from Tiger Global Management and existing investors Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft's Venture Fund), the startup will now be launching the Innovaccer Health Cloud – “a platform as a service that combines the company’s Data Activation Platform and application suite with an extensive set of platform services and tools that allow customers and partners to easily develop interoperable applications that improve patient outcomes and lower costs”. “Over the last ten years, we have spent billions of dollars digitizing healthcare information with great success. That was step #1 of the journey. Now, we have troves of information on our health locked in electronic silos. We need to bring this information together using a cloud platform that not only unlocks the power of the data, but also provides a platform on which new digital services and solutions can be built with native interoperability,” said Shashank, co-founder and chief executive officer at Innovaccer in a statement. What does Infra.market do? Based out of Mumbai, Infra.market is targeting India’s booming real estate market. It helps construction companies procure materials as well as helps with the logistics of it. The startup was founded in 2016, by Indian Institute of Management (IIM) graduates Aaditya Sharda and Souvik Sengupta, counts the likes of Larsen &amp; Toubro, Tata Projects and Ashoka Buildcon as its clients. According to <a href="https://techcrunch.com/2021/02/25/infra-market-becomes-newest-indian-unicorn-with-100-million-fundraise/">reports</a>, Infra.market which was also hit by the pandemic and saw its businesses halt for two months during lockdown, has recovered quickly and is aiming for a $180 million annual run rate in FY21. Infra.market’s series C funding round was led by Tiger Global and also saw participation from its existing investors Nexus Venture Partners, Accel Partners, Sistema Asia Fund, Evolvence India Fund, and Fundamental Capital GmbH. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-signal-and-telegram-face-a-catch-22-situation-as-indias-new-social-media-rules-threaten-encryption/articleshow/81221070.cms">Whatsapp, Signal and Telegram face a catch-22 situation as India’s new social media rules threaten encryption</a> <a href="https://www.businessinsider.in/business/startups/news/a-candid-kavin-mittal-admits-his-mistakes-as-he-reinvents-hike-and-plans-fresh-fundraising-this-year/articleshow/81204449.cms">A candid Kavin Mittal admits his mistakes as he reinvents Hike and plans fresh fundraising this year</a>

India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months

<img class="gwt-Image" src="/photo/47599839.cms" /> Bengaluru-based <keyword id="1165142" type="UNKNOWN" weightage="20" keywordseo="Practo">Practo</keyword>, which has been one of the first players to integrate IT and healthcare with their online practice management software to schedule appointments with doctors, is in advanced talks with global investors to raise funding of approximately Rs 400 crore. Two people directly aware of the plan told the Economic Times. 
 The financial daily stated that the Internet-based startup, which is backed by venture funds <keyword id="122716" type="CITY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword> and Matrix Partners, could also lure more new investors in this round, which is slated to be one of the largest in the online healthcare segment globally. 
 
According to one of the sources, “The deal is expected to close in the next four to five weeks.” 
 
The ET report further stated, “The funding is aimed at extending Practo’s leadership in India and establishing it as a clear winner in a space that is becoming crowded.” 
 In 2014, startups like Lybrate, Ziffi and <keyword id="2890031" type="UNKNOWN" weightage="20" keywordseo="Qikwell">Qikwell</keyword> have raised money and they also compete with search firms such as Just Dial. Globally, New York-based ZocDoc is one of the most heavily funded startups in doctor-search space, having received up to $98 million from investors including Khosla Ventures and <keyword id="794823" type="COMPANY" weightage="20" keywordseo="DST-Global">DST Global</keyword>. 
 Practo — cofounded by CEO Shashank ND and technology chief Abhinav Lal, both engineers from the <keyword id="66379" type="ORGANIZATION" weightage="20" keywordseo="National-Institute-of-Technology">National Institute of Technology</keyword>, Surathkal— was estimated to be worth Rs 1,000 crore in its most recent round of fundraising in February, when it mopped up $30 million (Rs 189 crore) from Matrix Partners, Sequoia Capital and venture debt provider Inno-Ven Capital. And now, this latest round is expected to close at a “significant premium.” 
(Image: lemontreeexhibition.com)

You Searched For "abhinav shashank" and got 6 results

Healthtech unicorn Innovaccer lays off 245 workers, 2nd job cut in 5 months

IANS

EXCLUSIVE: Practo Co-Founder says taking global Internet giants head-on was crazy, but solving the problem at hand was more important

Debdatta

Usha

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

India’s first healthtech unicorn Innovaccer is now valued more than PineLabs and ShareChat

Kritti Bhalla

India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months

Sanchita Dash

Practo seeks Rs 400 cr from global investors to expand its leadership in India

BI India Bureau

You Searched For "abhinav shashank" and got 6 results

Healthtech unicorn Innovaccer lays off 245 workers, 2nd job cut in 5 months

IANS

EXCLUSIVE: Practo Co-Founder says taking global Internet giants head-on was crazy, but solving the problem at hand was more important

Debdatta

Usha

70-plus Indian startups show exit door to 21K techies, more pink slips coming

IANS

India’s first healthtech unicorn Innovaccer is now valued more than PineLabs and ShareChat

Kritti Bhalla

India saw the birth of two new unicorns this week – both their valuations have swelled multiple times in just a few months

Sanchita Dash

​Practo seeks Rs 400 cr from global investors to expand its leadership in India

BI India Bureau

Practo seeks Rs 400 cr from global investors to expand its leadership in India