On Tuesday, iKure, a healthcare services start-up, said that veteran industrialist Ratan Tata invested an undisclosed amount in the company. The business, which provides primary healthcare services through a network of hospitals, digital technology, and skilled frontline health staff, said it aims to scale up operations rapidly with new funds flowing across India and globally.
Sujay Santra, iKure Founder and CEO, commenting on Tata’s investment in the company, said: “We are extremely pleased to have been considered for an investment by Ratan Tata. This is a huge honor and motivation for us.”
To date, iKure has provided primary health care services to more than 1.1 million individuals in seven Indian states and is looking to provide health care services to more than 10 million individuals over the next five years, the company said.
By addressing many issues, such as accessibility, affordability, availability, and knowledge, iKure has concentrated on providing primary healthcare. In many African countries, iKure ‘s technology platform is currently being used.
Ratan Tata claimed that the services of iKure are close to what he thinks the country needs at the moment. The start-up aims to rapidly expand its operations across India and internationally, according to a statement released by iKure. In the next five years, it plans to offer healthcare services to over 10 million people.
So far, iKure has earned $1.5 million from investors in India, the United States, Singapore, and Japan. The start-up is also in talks in its Series A round to raise $5 million, information of which iKure has declined to reveal.
Tata is known for investing in start-ups and, since retiring as Chairman of Tata Sons in December 2012, has made many investments in several tech-driven companies in his personal capacity.
Ratan Tata, 82, has invested in over two dozen start-ups across India in recent years. “Despite being one of the most active investors in India, he famously said he” by mistake “became an investor.
The industrialist was an early supporter of the Ola ride-hailing app and fintech unicorn Paytm (since 2015). In 2019, he also invested in Ola’s electric vehicle arm, Ola Electric, saying that the company will play a significant role in the growth and development of the ecosystem of Indian electric vehicles.
In addition to this, Ratan Tata has also invested in Snapdeal e-commerce site, CureFit fitness startup, ClimaCell weather forecaster, CarDekho auto portal, UrbanLadder online furniture, Lenskart e-tailer eyewear, NestAway home rental network, First Cry e-commerce platform for baby goods, Xiaomi mobile phone maker, and Dogspot online pet care platform, among many others.