Online health care platform, Practo, announced that they have raised US$ 90 million. This series C funding was led by Tencent with participation from Sofina, Sequoia, Google Capital, Altimeter, matrix partners, Sequoia capital gloabal equities and yuri Milner.
In February 2015, Practo raised series B funding of US$ 30 million from Sequoia Capital and Matrix Partners.
With this new fund, Practo is planning to expand into new segments to cover fitness, wellness, hospitals and more, go to over 10 countries, look to acquire more companies and build new products that will help people live healthier and longer.
In April 2015 Practo acquired FitHo, a digital fitness solution and in July 2015 they acquired Genii, a technology services firm focused on product design and development.
In last 6 months, practo launched its business in Philippines by taking the country count to 3, launched diagnostic labs search in 8 cities and expanded its business from 6 Indian cities to 35 cities of india.
As claimed by the company, Practo has become Asia’s largest healthcare platform with over 10M searches a month.
Shashank ND, Co-founder & CEO of Practo, said, “With this round we bring on board some fantastic new partners who will give us considerable edge in our global expansion. I’m very pleased to welcome them to the Practo family and I’m thankful for the continued support from our existing investors, Sequoia India and Matrix Partners, both of whom have participated in this round as well.”