Digital medical journal Daily Rounds raises $500K from Kae, Beenos chief and GSF

Bangalore-based and US-incorporated startup Daily Rounds Inc, which runs a digital medical journal aimed at doctors under the Daily Rounds brand, has raised $500,000 (Rs 3.1 crore) in seed round of funding from early stage VC firm Kae Capital, Japanese internet investor Teruhide Sato (founder of Beenos) and GSF India, it said in a blog post on Friday.

Positioned as an academic network for doctors, Daily Rounds comes across as a journal for clinical cases and updates besides questions for preparing for medical exams. The app is currently available for Android and will soon be available for iOS. The new version of the app will have user generated content and gamification. It claims a curation team of over 120 doctors.

It claims it has over 45,000 doctors using the platform and is aiming to take this to 2,00,000 doctors in the next one year adding more than 300 doctors each day.

On Android it has between 10,000 and 50,000 downloads.

The funds will be used to expand the network of doctors, strengthen the technology and data repository.

Founded in 2014 by Deepu Sebin, an MD in internal medicine & critical care, Nimmi Cherian (former research officer at IIT-Madras and a mobile developer at CTS) and Priyaank Choubey (former CTO at Spiffout, a customer engagement platform), Daily Rounds was part of GSF India's global accelerator programme and has just become part of Microsoft Ventures.

"Our core strength is our doctors and coders team and the fact that we are solving a real pain point. We are at core a tech company; the aim is to build the best tech firm. And that is how you build a great medical company," said Sebin, co-founder, Daily Rounds.

Sasha Mirchandani of Kae Capital said "We are excited to be part of the journey in Daily Rounds. The team has done a great job of engaging the doctors on the app by providing them high quality content. The key metrics on usage of the app by the doctors was compelling enough for us to make an investment."

(Edited by Joby Puthuparampil Johnson)