AddressHealth, a primary healthcare network for children, has raised about Rs. 10 crore ($1.5 million) in Series A funding led by Gray Matters Capital. Existing investor Unitus Seed Fund also participated in the round.
The company runs school-based neighbourhood clinics and school health programmes in Bengaluru and will use the money to expand the model to other schools in Bengaluru and to other cities.
AddressHealth has reached more than 1 lakh children through on-site services and screening programmes to identify health issues and provide early intervention.
According to a press release, there are more than 2 lakh schools in urban India, a large number of them catering to the low- and middle-income population.
Bengaluru alone has nearly 2,500 private, unaided schools.
A survey of more than 1 lakh children done by AddressHealth revealed that one in two suffered from dental cavities; nearly a tenth are obese and about 40 per cent are under-weight, indicating dual burden of nutrition; and, one in five has vision problems.
Anand Lakshman and Anoop Radhakrishnan, doctors turned entrepreneurs, are the founders of AddressHealth.
Lakshman has experience in public health programmes while Radhakrishnan has been involved in setting up two start-ups soon after his MBA from IIM-Lucknow.
The goal of the two founders is to address the health of at least 4 lakh children by 2018.
Source: Business Line