Fund Raising
The startup will use funds to expand its offering in at least five to six more Indian languages.
  • Thursday, September 28, 2017 - 18:41

Startups in the health content segment have begun to be quite aggressive and thinking more local where the real moolah is. Indian startup, myUpchar, has been in this space and has just managed to raise funds of Rs. 2 crore ($300, 000) via the online platform LetsVenture. The investments came from more than a single source.

Those who invested included Google India MD, Rajan Anandan, Alok Mittal, of Indifi, a lending startup; Mohit Satyanand, a founder of another venture, Teamwork Arts, in the ed-tech space and Currae Healthtech Fund. The last fund has been started by Apoorva Patni, son of the co-founder of Patni Computers, Ashok Patni.

On its website, myUpchar is offering contents in Hindi and it has plans to expand this and add more Indian languages, at least 5 or 6 of them, to start with. The funds raised in this round will be deployed on this effort.

MyUpchar claims it is already getting 2.5 million visitors to its site and is clocking a growth, in these numbers, of close to 30%, month on month. The startup has been founded by Rajat Garg and Manuj Garg. Both have other startups to their credit; together, they are on top of 3-4 startups in different genre.

The founders believe the market for health content is growing quite rapidly. Throwing in the numbers, they claim that of the over 300 million Indian consumer who go online, two-thirds prefer to view contents in the vernacular languages and this universe is projected to expand multiple times in the coming years.

Speaking of health and wellness sites, there are others in the same field and almost all of them offer the contents free and build their revenue model on the ads and other product sales avenues. A couple of them, Sepalika and Omnicuris have also managed to raise funds for their ventures.