HealthCareMagic secures funding from Accel India
Healthcare startup (quite a spammy one – they used to flood pluGGd.in’s forums with tons of health related content), HealthCareMagic has raised $0.5mn from Accel India.
While there are reports of the funding amount to be $2.5mn, we have learnt that the amount invested is $0.5mn (at the cost of ~10-15% equity).
HealthCareMagic has earlier partnered with Reliance to launch a tele-medicine service (‘Doctor-on-call’), which enables Reliance users to use HealthCareMagic’s service – and consult with HCM’s on-premise doctors.
Have you used HealthCareMagic’s service? Any feedback/opinion?
Also see: Find Doctors/Hospitals online – Grand collection of Indian medical portals
Update: Funding will be done in tranches (i.e. based on certain milestones). The total amount currently dispensed is $0.5mn, while the promised is ~$2.5mn (~40-45% equity)
About the author - Ashish Sinha is a Startup Mentor/Product Strategy Coach, and the founder/chief editor of pluGGd.in.
He has launched/managed couple of products (consumer as well as enterprise) in US and India, and now consults with startups/small businesses on their product/media strategy. He can be reached at: ashish (at) pluGGd.in [+91 98452 06443]
Boring news. You have lost charm
They actually spam a lot. Their twitter account http://twitter.com/healthcaremagic got blocked because of this.
I even got a spammy call from an insurance company which says they got my number from healthCareMagic.
Thats quite bad. They sell the user’s personal data.
Who is bothered about spamming when i get thirty mails selling viagra every day from canada. Damodar wants to have free lunch it seems. when he gets free chat with a doctor, he is happy and when the company wants to earn money to stay alive, he has a problem.Do you know he runs a health care company. any comments Damu
?
You must be from HCM
shows how spammy you and your co. is.
I have been using this service since it was free in 2008. quite decent way of getting our medical queries answered. Sinha here and the CEO of Healthcare have same sir names!!No awards how you got the internal story.good job,keep it up but please moderate the forum.
Not boring.quite interesting but i do not understand if you like the concept behind telemedicine on Internet.it is a blog to feature and apperciate startups or are you planning to start another mouth shut.
Hi Sinha.It is quite interesting boss.Technical vulnerability though.You buy a weekly health package online but the system authenticates you for full year service so use it for 365 days at the cost of 7 days.
Sinha is getting quite personal so his posts are reeking of jealousy and inferiority complex these days.The quality has gone down and people are logging out of this blog for good. Read this – http://www.vccircle.com/500/news/accel-india-to-invest-25-million-in-healthcare-portal
Wow! All comments with same IP address, but different names. Spammers are back?
Healthcaremagic – their twitter id was blocked..they used to spam each and every blog/forum..and accel invested in them..
whoa!
The service is quite useful, I have used the live chat and got my queries resolved instantly, and what better than directly interacting with a doctor. Yea, talking about twitter, they actually followed too many people there that is why twitter blocked them, but i guess everyone do it!! Their concept got a potential, and last year in IIM-Bangalore, I heard Shekhar (one of co-founders of this venture) speaking about creating an online healthcare ecosystem & platform which can connect patients & user to right healthcare in India. As we all are aware that healthcare is totally offline in India, initiatives such as healthcaremagic are truly appreciable, I hope this VC funding will help them to expand quickly. Wishing them best.
Their twitter id wasn’t blocked because they were following too many ppl, but because they were spamming too many ppl.
and they have got a new id now..hope they keep it safe.
You have a visitor from MIT using their service – http://www.web.mit.edu. Mr Sinha you are indeed reeking of jealousy and inferiority complex
I hate spammers and so is healthCareMagic!
I think HCM is a fantastic concept and I wish them all the best!
any sane person can see the comments have not so good intentions…HCM is harming itself the most…!
Never heard of HCM..but looking at comments, they surely look spammy.
Hcm offers a unique service, as you can read over VCCircle that they provided free live chat with doctors for first 10 months. I think to reach more people & to inform them about their unique service they used social media, I don’t see any harm in that. Being a startup, you have to tell people about the service you offer, and considering healthcare, there may be different views of people but the live chat with doctors by hcm was a revoltionary thing, I have also used when it was free & they follow up with their users over email or phone. One of doctor from hcm called me after my chat & he assisted me to guide me for the treatment. Still being on the Internet, they maintain that doctor-patient feeling. Again talking about spam, I do receive newsletters & updates from hcm on weekly basis, and being such a useful & instant service you can not call it a spam. Yes, twitter was a bad thing happened to them I guess, but their new twitter is useful & it tweets nice health tips over twitter.
Who are these doctors, and what are their qualifications? I’ve heard that they hire inexperienced freshers or junior college students with minimal qualification (anyone can buy a degree certificate really). When I tried the service they kept telling me to see a doctor in-person. A decent doctor can make at least Rs. 900 an hour (6 patients x rs. 150). If HCM is charging Rs. 10 a minute, they make Rs. 600 an hour BEFORE paying for all their costs…meaning doctor is likely making Rs. 300 an hour. Who works for that wage except a student?
Most jhantu company HCM that I have even seen.I can bet tht Accel india is going to loose money. and also according to law this is illegal company.
They are the worst company ever
They shout out in the media about having 40+ docs who are dedicated to answering user queries, while in reality they have 4 docs.