Telemedicine Startup DigiQure Captured Attention on Shark Tank India

DigiQure is a telemedicine startup founded by alumni from NIT Bhopal in 2020. Its mission is to provide crucial healthcare services to rural communities through telemedicine-based e-clinics. These clinics offer remote consultations with specialist doctors, digital prescriptions, medication delivery, lab testing, and referrals to partner hospitals for more complex cases. They also issue Sakhsham Cards, a subscription service that allows members to receive free consultations at their clinics for just ₹1 per day.

Click here to visit their official website: DigiQure

At the time of their investment pitch, DigiQure operated 7 clinics and 2 mobile clinics across Madhya Pradesh. They had formed partnerships with over 50 doctors from various hospitals, reaching more than 4,000 patients. The founders aim to expand their services into northeastern India and eventually throughout the entire country. They were looking for an investment of ₹40 lakh in exchange for 4% ownership of the company. So far, the founders have invested over ₹60 lakh into the business and had attracted 1,800 subscribers.

From January to September 2022, DigiQure generated more than ₹12 lakh in revenue, with the most recent month reaching ₹4 lakh. Notably, half of their revenue came from hospitals through marketing services they provided. Their monthly expenses were around ₹1.5 lakh.

Related: How Food Service Platform Mahantam Captured Investor Attention on Shark Tank India

Akanksh Tandon is the founder of DigiQure, a company located in Madhya Pradesh. Originally from a small town in the same state, he has experienced personal losses due to a lack of accessible healthcare, which motivated him to start this venture. Akanksh successfully passed the all-India entrance exam and graduated from NIT Bhopal. He also cleared the Public Sector Undertaking (PSU) exam and worked for the government. Alongside Akanksh, there are two other founders who are partners in an IT company that operates as a separate entity.

In a business pitch scenario, Aman is the first investor to back out, expressing doubts about the profitability of the business despite supporting its cause. Namita and Vineeta make an initial offer of ₹40 lakh for 20% of the company, but Peyush counters with ₹1 Crore for 25% while wanting to go solo. Namita then revises her offer to ₹40 lakh for 15%. Anupam, though unsure about the business model, offers ₹1 Crore for 10%, matching the founders’ valuation. All offers come with the condition that the new company must merge with DigiQure. Ultimately, the founders counter Namita’s last offer with ₹40 lakh for 10%, which she accepts, leading to a handshake to seal the deal.

Our investigation into the company showed that their deal with Namita on Shark Tank India was successfully completed after the episode aired. They also formed a partnership with AyuSynk, another company from Shark Tank that Namita invested in, to introduce their medical devices to AyuSynk’s e-clinics, along with a product called Spandan from Sunfox Technologies, which also appeared on the show. Additionally, the company has expanded its reach to five cities across India. As of May 2024, it continues to operate and is growing steadily.