PhableCare, India’s largest chronic disease management company, has raised Series B funding of Rs 187 crore within one year of raising Series A. The round was led by Kalaari Capital with participation from Aflac Ventures, Digital Horizon, Stride Ventures. Existing investors, Omron Ventures, SOSV, Social Starts, and Fresco Capital also participated in the round.

Leading the round, Vani Kola, Managing Director, Kalaari Capital, “We are delighted to partner with Sumit and Mukesh in their mission to revolutionize chronic disease management. Their experience and deep insights into the market, coupled with their entrepreneurial experience, reinforce our confidence in their ability to disrupt digital health in India. We wish them the very best in their journey.”

 Currently, over three million patients and over 10,000 doctors and over 1000 pharmacists use PhableCare’s technology making it the market leader in this segment. The new investment further bolsters PhableCare’s rapid growth in 2021. This funding round marks a 6x jump in PhableCare’s valuation within a short time. The company will use this investment to further strengthen its full-stack and value-driven chronic care ecosystem and accelerate its market expansion, customer acquisition (doctors and patients), brand building, and building new revenue streams, the company stated in a release.

 The start-up has plans to acquire other players through strategic investments, which will consolidate PhableCare’s position in the category. The company has allocated capital and secured additional venture debt to invest in other health-tech startups that can potentially create a thriving healthcare ecosystem through capacity and capability expansion.

 Speaking on the latest funding, Sumit Sinha, Co-founder, PhableCare, said “We believe that India needs a focussed chronic care management ecosystem as chronic care has the largest burden on the overall healthcare expenditure. At Phable, we constantly help Chronic Disease Patients to manage their ailments at lower cost and stay out of a hospital for as long as possible. We have demonstrated that this problem can be solved effectively at scale with digital solutions, connected care ecosystem, IOT devices, and data.”

“Our focus over the next 2 years would be to take the technology to over 30 million Indian households and over 100,000 super-specialist doctors in India and capture 25% of the market. In addition, we will continue to build technology to integrate the healthcare system and players even further,” added Co-founder Mukesh Bansal.

Prior to the current Series B funding led by Kalaari Capital, Phablecare had secured Rs 90 crore in Series-A funding led by Manipal Hospitals in March 2021. Later 2021, the start-up received an additional Rs 14 crore from Omron Ventures through primary capital infusion and a venture debt facility committed of Rs 45 crore from Stride Ventures.