ATLANTA, GA – April 1, 2014. Sevamob, an Atlanta, GA-based, healthcare company that combines tele-health services with in-person care for patients throughout India, raised a bridge round of USD $202,500 from ADAP Capital LLC, Artha Venture Challenge, D3 Jubilee and other investors. The funds will be used to position the company for a Series A investment within the next 12 months.
Led by a management team (with prior experience at IBM and Glaxo) Sevamob is fundamentally transforming primary healthcare for low-income consumers in India by providing increased accessibility to basic primary healthcare, diagnostics, medicines, and insurance services throughout many urban and semi-urban areas. Additionally, they offer an innovative online health exchange that directly connects patients with healthcare providers. Sevamob’s core strategy is to serve their customers in small groups on a subscription-based model using cutting edge cloud, big-data, and mobile technologies to ensure quality and standardization of their service deliveries. More advanced care is offered, as needed, to patients through an appointment-based scheduling process.
This bridge round of financing was led by ADAP Capital LLC. “We believe in the massive potential of Sevamob’s disruptive primary healthcare model,” said Andy Lower, ADAP Founder. “The model is innovative, scalable and replicable and Sevamob’s technology gives it a sustainable competitive advantage.”
In just two years, Sevamob is providing care to subscribers in 3 states of India — Uttar Pradesh, Karnataka and NCR. In Jan 2014, Sevamob launched India’s first tele-health marketplace where patients can get video consultations, second opinions and in-clinic appointments from participating healthcare providers. Most recently, Sevamob partnered with Alere, a worldwide leader in diagnostics, to bring rapid point-of-care diagnostics to the customers. As Sevamob continues to grow, the team expects this model will be copied internationally, and it has already been replicated and licensed in Liberia.
“We are thrilled to have a group of early-stage social impact investors that are very entrepreneur friendly and believe in the potential of our business,” said Shelley Saxena, Founder and CEO of Sevamob. “We look forward to working in partnership with them to have sustainable impact on low income consumers and achieve key milestones ahead of our next capital raise.”