100X.VC-backed Paperplane raises nearly USD $400,000 in Funding Round Led by Cornerstone Venture Partners Fund
LV Angel Fund and other Angles also invest in unified healthcare platform startup
Bengaluru, March 28, 2022: Paperplane, a 100X.VC-backed startup and Bengaluru-based Digital Clinic announced that it has raised nearly US $400,000 in a follow-on funding round that was led by Cornerstone Venture Partners, while the rest included LV Angel Fund and other seed investors.
Paperplane is an AI-first ‘Digital Clinic’ that enables doctors, dentists, and medical practitioners to manage their practice efficiently and engage with patients remotely. The platform also allows them to expand their reach across India without additional capital expenditure and save up to 25% of cost and effort for doctors. The funds will be used to enhance sales capabilities and further product development.
“Paperplane’s vision of building a unified healthcare platform for India is centered around doctors. The platform is extremely easy to set up, automates, and simplifies clinic operations – all the way from appointments to prescriptions to follow-ups, thereby enabling doctors to seamlessly manage patient relationships and engagement. With no change in behaviour needed on the patient’s behalf, such a platform is exactly what’s needed to deliver healthcare services at scale in India. This is evident from the significant adoption we are seeing in the smaller cities and towns already. We are excited to be a part of this journey and look forward to scaling this with the founders,” Vatsal Bavishi, Investment Director, Cornerstone Venture Partners Fund.
Paperplane’s founders—Devansh Swarup, Dhruv Upadhyay, Aryan Pandey, and Varun Goel—who have been batch-mates from their undergrad years, created the entire technology from the ground-up. Their vision is to enable medical practitioners to provide quality healthcare at an affordable cost. Patients can avail of digital prescriptions, automated follow-ups, and reminders, ability to book lab tests and order medicines – all via WhatsApp.
“The CoVID-19 pandemic made it difficult for doctors to consult and treat patients at scale in physical clinics. Paperplane was born out of a motivation to ease this load on medical practitioners of patient management so that they can focus more on diagnosis and treatment. The fresh round of funding will help us further improve AI-based practice management platform and amplify its reach,” shared Devansh Swarup, CEO, Paperplane.
The platform is now being used by over 1,000 medical practitioners, conducting 11,000+ consultations per day, serving more than 1,00,000 patients across the country. The Paperplane community is growing at more than 30% month-on-month due to the ease of adoption and minimal disruptions in the consulting process.
“Paperplane addresses a pressing need of the hour; one that works towards bringing the doctor to the patient without adding overheads to the already stressed caregiving system. The service is easy to use, provides a means for timely diagnosis, with automated followups via a popular messenger app. At 100X.VC, we are proud to see a product being born out of an altruistic vision to help Indian citizens,” said Ninad Karpe, Partner, 100X.VC.
