Health Aggregator Zoctr Raises An Undisclosed Amount From Brand Capital
Third round of funding in 9 months
Mumbai-headquartered Zoctr, a first-of-its-kind Patient Centric Health Aggregator Platform has raised an undisclosed sum from the Times Group (Bennett Coleman & Co Ltd.) under its innovative Brand Capital Incubator Funding Model that provides funding for long-term brand building and advertising needs of growth oriented companies against equity participation.
Zoctr aggregates Home Health, Telehealth & Remote Patient Monitoring Services targeted at Post Acute, Chronic & Terminal Patients including Cancer, Stroke, Cardiac, Kidney and Post Surgery Patients.
This is the third round of funding raised by the company in the last nine months. The company plans to use these funds mainly for print, medianet and radio ads for creating category awareness for Home Health as well as brand awareness for the Zoctr brand as synonymous to being the Home Health Leader in the Indian market.
The company has ambitious plans of creating a 18-city home health operation touching 45% of India’s population in the next few years riding on the back of deep medical domain expertise, robust operations and a fully integrated technology platform and mobile app.
Says, Mr. Shrenik M. Khasgiwala, Director, Brand Capital, “Our investment model of Incubator Capital fulfils the objective of positively impacting such early stage start-ups in their entrepreneurial journey by giving them superior media access to all Times Group’s properties thus facilitating rapid customer adoption in the marketplace. Zoctr is a unique and disruptive home healthcare aggregator concept with large untapped potential. I believe, with the right customer acquisition model and the media tools to support it, Zoctr can gain a lot of visibility in the market and help them to find the right place in the consumer’s life.”
Commenting on the same, Dr. Shantanu Nagarkatti, Brand Capital states, “Home Healthcare is the need of the hour and I believe Zoctr can revolutionise the healthcare delivery model in the country with its state-of-the-art home healthcare solutions. We at Times aim to provide critical leverage for brand-led growth and value creation of Zoctr.”
Says Ms. Nidhi Saxena, Founder & CEO, Zoctr, “Zoctr’s aspiration is to touch 500,000+ Indians and be amongst the Top 5 most recognised Healthcare Brands in India in the next 5 years. The Times Group’s impeccable credibility, outreach and media mix coupled with the timing of the deal shall help Zoctr create a high impact launch and reach out to a Pan-India audience thereby enabling strong brand awareness and rapid adoption of home healthcare services by consumers.”
Adds Nelson Fernandes, AVP Marketing, Zoctr, “The leadership numbers and omnipresence of the Times Group Media Channels will enable us to showcase the comprehensive array of the specialized Home Healthcare services being offered to patients for first time in India.”
With a team of 100 employees, the company has operations in Mumbai, Delhi, Kolkata, Pune and Ahmedabad and is now gearing up for scaling to a level where it will initiate pan-India operations.
Zoctr is expecting to raise a Series A funding round to the tune of $10 million in the next six months and this deal is seen a precursor to the bigger funding round.