Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Doctor Insta.
We are often left in awe as to how digitization has changed the way we live and carry out our daily work. We no longer have to wait in lines to watch a movie, thanks to online ticket booking applications. We don’t have to call a hundred service providers like carpenters and painters to avail their services. That all is available now at just one click, thanks to the online portals.
Similarly, now we have online doctor consultation available 24x7 accessible anytime anywhere. To step up the game and make it available to more and more people in the country, Amit Manjul launched Doctor Insta in 2015.
Read on to know more about the Doctor Insta Company Profile, Founders, Business Model, Funding, Investors and Growth.
Doctor Insta - Company Highlights
| Startup Name | Doctor Insta |
|---|---|
| Headquarter | Gurgaon, Haryana |
| Sector | Healthcare |
| Founders | Amit Munjal |
| Founded | 2015 |
| Total Funding | $7 Million |
| Revenue | INR 6 crore (2017-18) |
| Parent Organization | Doctor Insta Private Limited |
| Website | doctorinsta.com |
Doctor Insta - About and how it works
Doctor Insta - Founders and Team
Doctor Insta - How did it start?
Doctor Insta - Business Model and Revenue Model
Doctor Insta - Competitors
Doctor Insta - Funding and Investors
Doctor Insta - Growth and Revenue
Doctor Insta - Future Plans
Doctor Insta - FAQs
Doctor Insta - About and how it works
Doctor Insta is a “Video-Medicine” platform that provides online consultation in general medicine, pediatrics, psychology, and nutrition. This venture aims to bridge the consultation gap between doctors and patients, by putting a digital channel in place. Through the videos on the portal, the audience is able to audio-visually be connected to the doctors and specialists and avail treatment advice from the specialists within just 15-30 minutes.
This platform provides instant access to the healthcare professionals 24x7 via voice and video calls and also the chat feature that it has on its application. Besides consultation, it also provides home delivery of medicines and laboratory and diagnostic test reports, which are shared over email.
Doctor Insta as of today has more than 100 doctors on its platform, with business-to-business-to-consumer (B2B2C) vertical. With this vertical, the employers pay fixed monthly retainership fees for their employees to access all the services on the Doctor Insta application. This B2B2C vertical covers more than 2,00,000 employees and their families.
Doctor Insta - Founder and Team
Amit Munjal is the founder and CEO of Doctor Insta.
He is a Harvard graduate and a CFA. Amit has worked with quite a few renowned companies like Deloitte, Bank of America Merrill Lynch, Citi bank, and is also the founder and CEO at Brahmax Ventures.
Doctor Insta - How did it start?
In case you’re wondering how an innovative concept like this originally germinated? This is how Doctor Insta started. There was this one time when Amit sprained his ankle and was forced to use a telemedicine app in the States. And surprisingly, he was quite impressed by the experience.
“It helped me access a doctor from the convenience of my residence—saving time and money,” said Amit Munjal, CEO of Doctor Insta.
This very incident inspired this smart, spectacular and very talented young man to start something very similar in India too. Telemedicine has been a very popular concept in the West for a very long time. And the surging and exponential growth in India’s digital economy offered a promising opportunity for on-demand preventive and curative healthcare at one’s doorstep.
Also, India has a poor availability of doctors, so essentially addressing health concerns remotely has been a massive need in the country for a very long time. Besides, there’s also the daunting low doctor-to-people ratio in India, because most qualified and skilled doctors are usually available only in the tier-I cities. For people residing in tier- II and tier- III cities, access to quality healthcare is still a distant dream.
This social need and the budding business opportunity with it inspired the founder Amit Munjal to launch Doctor Insta in 2015.
Doctor Insta - Business Model and Revenue Model
The Doctor Insta business model has unique B2C and B2B2C Models for Patients and Employers with Gross Margin as high as 70%. It provides access to quality healthcare professionals 24x7. This service is provided through voice and video calls and with the chat feature in its application.
The consultation on this application can be availed of on a pay-as-you-go basis, for which the charge is INR 440 per consultation, or the user also has the choice of taking an annual subscription for which the charge is INR 2,500. The subscription package at Doctor Insta comes with a free 30-day trial period. Also, the user can add up to three dependents in the plan at zilch cost on this application.
“Though major illnesses need to be addressed physically, certain health issues—medicines, gynecology, diet, and nutrition-related issues, among others— can be easily addressed remotely,” said Amit Munjal, founder of Doctor Insta.
Doctor Insta - Competitors
As discussed in the beginning, digitization is upscaling the market big time, and due to that, a lot of other healthcare platforms have come to offer application-based healthcare to the masses.
Top competitors of Doctor Insta are Practo, Medikoe, Cure, DocPlexus, Pluss, MeraDoctor, Portea amongst many more players in the segment. With the reports of soaring opportunities in this segment, Doctor Insta and other startups in the space will be exposed to a plethora of opportunities ahead.
Lakshya Singh
Doctor Insta - Funding and Investors
Doctor Insta has raised a total of $7 Million in funding over 3 rounds. Their latest funding was raised on Oct 4, 2017 from a Series B round.
Here is a list of all the funding rounds of Doctor Insta:
| Date | Stage | Amount | Investors |
|---|---|---|---|
| December 2015 | Seed Round | $500K | BrahmaX Ventures |
| August 2016 | Series A | $2.5 million | BrahmaX Ventures, RoundGlass Partners |
| October 2017 | Series B | $4 million | BrahmaX Ventures |
Doctor Insta - Growth and Revenue
- Doctor Insta had around INR 6 crore revenue in 2017-18
- Doctor Insta conducts more than 4,000 consultations a day
- Currently running its services at a pan-India level
- Collaborated with more than 150 companies such as American Express, SRF, Channel Play, Videocon, Muthoot Finance, etc.
- The company today has over 500K application installations
- More than 1 million users are using Doctor Insta
Doctor Insta - Future Plans
“There are about one million allopathic doctors in India conducting about 50 million consultations every day. In two years, we want to acquire 2% of this market—one million consultations a day by 2020. The growth prospects are huge,” says Amit Munjal, founder and CEO of Doctor Insta.
Ashwini
Doctor Insta - FAQs
What is Doctor Insta?
Doctor Insta is a “Video-Medicine” platform that provides online consultation in general medicine, pediatrics, psychology, and nutrition. This venture aims to bridge the consultation gap between doctors and patients, by putting a digital channel in place
How does Doctor Insta make money?
It has B2C and B2B2C Models for Patients and Employers with Gross Margin as high as 70%. The consultation on this app can be availed of on a pay-as-you-go basis, for which the charge is INR 440 per consultation, or the user also has the choice of taking an annual subscription for which the charge is INR 2,500.
Who is the Founder of Doctor Insta?
Amit Munjal is the founder and CEO of Doctor Insta.
How much Funding has Doctor Insta raised?
Doctor Insta has raised a total of $7 Million in funding over 3 rounds. Their latest funding was raised on Oct 4, 2017 from a Series B round for $4 Million led by BrahmaX Ventures.
Who are the competitors of Doctor Insta?
Practo, Medikoe, Cure, DocPlexus, Pluss, MeraDoctor, Portea amongst many more players in the segment.
How much is the revenue of Doctor Insta?
Doctor Insta had around INR 6 crore revenue in 2017-18.
Author: Rishabh Rathi
Source : https://startuptalky.com/doctor-insta-success-story/
Date : 2021-05-18T10:30:00.000Z