India-based online healthcare services platform Mfine has secured $17.2m in a series B round led by SBI Investment, a subsidiary of financial services firm SBI Group.
The corporate’s SBI Ven Capital unit also took part in the round, as did BeeNext, Stellaris Ventures Partners and Prime Venture Partners.
Founded in 2017, Mfine has developed a mobile app that enables users to connect with more than 500 doctors for medical consultations conducted through chat or video calls. Users can also order medicine through the app, as well as accessing health screenings and diagnostic tests.
The series B funding will be used to expand the company’s hospital network in India, to further develop its artificial intelligence technology and to bolster its existing services.
Mfine raised $4.2m in a March 2018 series A round led by Prime Venture with participation from Stellaris and private investor Mayur Abhaya. It added to a $1.5m seed round backed by Stellaris and Abhaya in 2017.