Healthtech startup Confido Health has hit the headlines by raising $3 million in seed funding. The investment was led by Together Fund and supported by big names like MedMountain Ventures, Rebellion VC and DeVC.
Confido was founded in 2022 and since then it has been tackling to ease administrative burdens for healthcare providers. Scheduling appointments, verifying insurance, coordinating patient care and other such tasks often drain time and resources. The AI platform of Confido has stepped in with automation of such processes. It uses no-code deployment and integrates with existing systems in under five minutes.
Confido co-founder Chetan Reddy said that the company is about automation and also about lifting the operational burden completely. The primary focus is on solving real problems and it seems to be resonating with the company. it has been serving more than 50 locations and reaching 50,000 patients monthly.
The journey of Confido reflects a bigger story of the industry. It has secured significant investments for companies like Healthify, Qure.ai and SigTuple. The startups have secured together significant investments. This means that then healthcare innovation is in the spotlight.
However, it is being doubted whether the healthtech startups can sustain the maintain momentum and deliver value in the long-term. The approach of Confido is rooted in solving everyday issues for healthcare providers and seems like a step in the right direction.
The healthtech sector in India has already attracted more than $7 billion in funding since 2014. The $3 million of Confido might seem modest in comparison, but it represents something more significant.
