An India-based health IT company Practo has raised a $90 million Series C round led by Chinese investment firm Tencent, according to a company statement.
The company — part clinical management platform and part doctor search/appointment maker — wants to use the funding to bring these tools to 65 more cities in India from its current level of 35 and expand from a presence in three countries to 10. It was an aspiration CEO Shashank ND articulated in its $30 million Series B round in February.
Other new investors participating in the round included: Sofina, and Google Capital. They joined returning investors which included Sequoia India, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner.
So product development is another area where it is allocating funds. In the statement it said it is developing an app designed to help people make better health decisions.
Practo noted it would expand its product lines over the next three to six months, according to a statement. It’s also interested in growing by acquisition. It’s in the market for companies that “encompass healthcare segments and provide a seamless experience across medicine, wellness and fitness, globally.”
