Mumbai headquartered Qube Health has raised an undisclosed amount in a Pre-Series A round led by Inflection Point Ventures. The other investors in this round are Mr. Mohit Burman (Dabur Group), Keiretsu Forum (NCR, Bengaluru & Chennai Chapters) and a group of other marquee Indian and International HNI investors namely Alan Gertner, founding member of Google’s first Global Business Strategy team and Akshay Saxena, a Ashoka Fellow and President of Avanti.
Qube Health is a fast-growing health-tech company, focused on the ‘Employee Healthcare Management’ vertical. Qube Health provides primary care, health screening and other ‘non-insurance healthcare services’ to large companies across six different Industries including, financial services, food services, facility management and manufacturing.
Over the past three years, the company has grown rapidly and is set to disrupt the employee health and benefits industry in India, by using advanced data science, the largest aggregation of healthcare service providers in India and a mission to simplify Indian healthcare for the employed Indian.
Mitesh Shah, Co-Founder, IPV says, “Qube Health has created an AI driven health tech platform where they have already aggregated more than 11,000 hospitals and clinics for easy access for professionals who are covered under a variety of mediclaim and healthcare benefits provided by the companies. The data insights can help companies and individuals understand their organisation, the employee and their family’s health better, to plan better health outcomes for everyone. Qube Health AI engine is making it simpler for companies and their employees to understand all their healthcare options – insurance-paid or self-paid, while saving costs, and remaining compliant on regulatory issues. The Company aims to have one million individuals on its health tech platform by 2022 and we believe in their model to help them achieve their ambition.”
Qube Health operates across 700+ locations (From Mumbai and New Delhi to Midnapur and Zaheerabad) in India and it intends to use this investment to further enhance its tech stack for its users – Enterprise HR Teams and their Employees, while also adding more people to manage the 300+ large corporate clients it aims to manage over the next year.
Chris George, Co-Founder & CEO, Qube Health says, “It is a privilege to have such experienced and established investors believe in our vision of simplifying healthcare for all Indians. Majority of the healthcare expenditure in India is non-insurance paid. This is very unlike other countries, and while the health insurance industry in India is growing, the out-of-pocket healthcare industry is growing even faster. Our mission is to make life easier for the employed Indians who pay for their healthcare from their pockets and the HR Teams at the companies they work for.”
We were particularly excited about the network of individual investors that are now part of our story, as a result of this fund raise. They bring industry access and mentorship as we navigate the complex nature of the Indian healthcare system, he adds.
Qube Health focuses on the $45 Billion ‘out-of-pocket healthcare space within the Indian healthcare industry, with 11,000+ hospitals, clinics and diagnostic centres as partners across India. The company partners with insure-tech, insurance companies, insurance brokers, e-pharmacy chains and others within the ecosystem to provide a ‘discovery to delivery’ solution for the employed Indians.
About Qube Health
QubeHealth is going after the $45 Billion, out-of-pocket healthcare industry in India and taking a share of the $2 Billion that Indian Companies spend every year on managing Employee Healthcare. Hundreds of major Indian companies have chosen QubeHealth to help them manage and adminster non-insurance paid, employee health benefits, while reducing costs. Using advanced data sciences, the largest aggregation of hospitals and clinics on one platform and a mission to ‘make healthcare simple’.Qube Health raises a Pre-Series-A led by Inflection Point Ventures