Digital healthcare startup Karma Primary Healthcare has successfully raised ₹11 crore (approximately $1.3 million) in its Series A funding round, with significant investment from UBS Optimus Foundation. The funding round also saw participation from 1Crowd and other investors, marking a major milestone in Karma’s mission to revolutionize healthcare access in rural India.
This infusion of capital will be strategically utilized to bolster Karma’s technological capabilities, expand its team, and introduce value-added services as the company transitions from a transaction-based care model to a value-based care model. The funds will also support the development of referral networks and predictive analytics capabilities, enhancing patient data management and delivering personalized healthcare solutions. By 2027, Karma aims to operate in 100 locations, serving over 150,000 patients annually.
Dhun Davar, Head of Social Finance, UBS Optimus Foundation and Head of Social Impact & Philanthropy, India and Middle East, UBS, emphasized the significance of this partnership:
“UBS Optimus Foundation aims to scale quality primary healthcare for vulnerable communities around the world and make it more accessible. Our partner Karma Primary Healthcare has assisted hundreds of thousands of patients in rural India since our partnership began and our continued funding will help them expand their network of medical facilities and further strengthen their digital platform.”
Natasha Kothari, Co-founder of 1Crowd, expressed pride in Karma’s achievements and the company’s ongoing support:
“We are delighted by the profound impact Karma has created by revolutionizing the primary healthcare space in India. Their unwavering commitment to bridging the healthcare gap by providing medical care solutions including phygital consultations, advanced diagnostics, quality medicines, and health education in underserved geographies has truly been inspiring. Having supported Karma since their early days, we’re proud of the progress Jagdeep and his team are making in setting new standards in healthcare delivery. We remain committed to Karma’s transformative journey towards providing a continuum of care to people across the country.”
Jagdeep Gambhir, CEO & Founder of Karma Primary Healthcare, highlighted the alignment of UBS Optimus Foundation’s support with the company’s vision:
“UBS Optimus Foundation’s support aligns perfectly with our mission to revolutionize quality healthcare access for low-middle-income communities in rural India. This long-term commitment from UBS-OF supports our vision for sustainable growth.”
Founded in 2014, Karma Primary Healthcare has been at the forefront of enabling access to quality primary healthcare across eight states in India through its innovative assisted telemedicine model. The company has seen a threefold increase in its patient base over the past three years, positively impacting more than 350,000 lives, with 55% of them being women. This growth has been driven by Karma’s robust technology platform, which addresses both awareness and service delivery gaps, allowing the company to accumulate a comprehensive dataset of patients in rural India.