Healthcare provider Manipal Hospitals has led a $12m series A round for Phable, the India-based creator of a scheduling app for chronic illness patients, TechCrunch has reported.
Venture capital firm SOSV also contributed to the round, having first invested in the company in August 2019 when it provided $150,000 in capital.
Phable has developed an app that helps patients with chronic illnesses organise medical appointments and tests, keep track of test results and buy prescription medications, medical devices and insurance.
Manipalk chairman Ranjan Pai said in a statement quoted by TechCrunch: “The growing burden of chronic diseases in India is exacerbated by issues around compliance of patients with the treatment regime – including medication, lifestyle changes and periodic follow-ups.
“Phable would help to fill that gap and would enhance the quality of life for many patients. Manipal Hospitals is pleased to have this opportunity to work with the team at Phable to enhance and grow their offerings.”
The company had raised $220,000 in seed capital from science park operator IKP Knowledge Parks, LetsVenture, 91 Springboard and angel investors Serge DeVos and Wouter Peeters in December 2019. It added $1m in pre-series A funding from SOSV, Inflection Point Ventures and Fresco in May 2020.
