Baba Ramdev now to take online healthcare startups
Baba Ramdev is turning his attention to digital health startups such as Lybrate and Practo. Patanjali, Ramdev’s Haridwar-based company, is lining up an online platform (chikitsalaya) for ayurvedic consultation and treatment, said people familiar with the development.
A company that manufactures its own drugs and sets up a digital consultation platform subsequently will have a multi-fold impact on its business, said Saurabh Arora, founder & CEO of Tiger Global-backed Lybrate, one of the country’s largest online doctor consultation platforms.
Patanjali, which has raked in revenues of around Rs 5,000 crore in 2015-16, sells FMCG products such as ghee, soaps and honey, while its sister concern Divya Pharmacy manufactures and sells Ayurvedic medicines. Ramdev also runs an ayurveda hospital and a medical college in his campus Patanjali Yogpeeth, near Haridwar, which hosts thousands of visitors every month.
Globally, digital health funding has hit around $6 billion this year, according to venture capital database CBinsights. Closer home, Practo raised $90 million in Series C funding round last year — led by Tencent, Sofina and Sequoia Capital, while Lybrate raised around $10 million from investors such as Tiger Global, Ratan Tata and Nexus Venture Partners.