IPV Leads Pre-Series A Funding in Gurugram-Based Healthtech Startup AllTrak

According to AllTrak, the funds will be utilised towards team expansion, technology enhancement, and logistics operations expansion across multiple cities in India.

Gurugram-based healthcare logistics platform AllTrak has secured INR 4.2 Cr in a Pre-Series A round led by Inflection Point Ventures (IPV).

According to AllTrak, the funds will be utilised towards team expansion, technology enhancement, and logistics operations expansion across multiple cities in India.

Founded in 2021 by Amit Gupta and Tarun Sharma, AllTrak offers end-to-end solutions to diagnostic companies. Its solutions include a technology SaaS platform, a pan India shared logistics network and a phlebotomist network to healthcare companies to serve their patients.

Sharing views, Amit Gupta, founder & CEO, AllTrak, said, "India's GDP is all set to reach $5 trillion by 2027 and $10 trillion by 2035. Healthcare is going to be one of the important sectors for India to grow. We want to grab this opportunity and build and offer a robust ecosystem for healthcare companies to grow. The support from IPV investors has helped us in the journey and our vision to revolutionise the healthcare Industry. "

AllTrak aims to help healthcare organisations digitise operations, improve Turn Around Time (TAT), optimise costs, and scale their businesses. Their solutions are specifically designed for the healthcare industry, offering products including LogiTrak, PathTrak, InsurTrak, BizTrak, LeadTrak, and HealthTrak.

The platform claims to track and monitor seven lakh patient samples per month. The tech-enabled logistics network facilitates healthcare operations in over 50 cities including Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, Chennai, Kolkata and many Tier II and Tier III cities.

Reportedly, AllTrak has registered over 5,000 healthcare professionals and tracks over 500,000 visits per month with 10,500 networked pickup locations.

Per the startup, its ecosystem helps healthcare companies grow at a faster pace and creates a seamless solution for accelerated patient report turnaround. This ecosystem empowers healthcare organisations, enhancing profitability, service quality, and client satisfaction.

"The integrated approach designed by AllTrak helps overcome logistical bottlenecks, contributing to more effective and streamlined transportation and tracking for healthcare providers, ultimately contributing to the betterment of the industry. With its timely delivery, AllTrak is a category creator and leader, showing a promising future in the diagnostics healthcare market," said Vikram Ramasubramanian, partner, IPV.

The funding comes at a crucial juncture, given the robust growth anticipated in the Indian diagnostic services market, projected to reach $43.57 billion by FY32, according to a report by Polaris Market Research in March 2023.

In a similar development, healthtech startup Zyla raised $4 million series A funding led by Exfinity Ventures. The round also saw participation from Sony Innovation Fund, Venture Catalysts, and Aureolis led by Paula Mariwala.

Reportedly, Zyla sought to utilise the fresh funds to accelerate growth across its three key verticals of insurance, corporates and pharma, as well as product integrations across the healthcare ecosystem for scale.