Kerala-based TiaTech bags investment from a major entrepreneur in pharmacy, hospital sector
Healthcare startup TiaTech Health Technologies, supported by the Kerala Startup Mission (KSUM), has raised US $3 million from a Botswana-based Malayali entrepreneur. The startup company that focuses on digital health technologies bagged the funding from Balaram Ottapathu, a prominent entrepreneur in pharmacy and healthcare sector in India and abroad.
The Thrissur-headquartered company, founded by Dr Ramesh Madhavan and Jitin Ranjit, provides digital solutions to the healthcare sector including HIS solutions, tele-medicine, insurance and billing solutions mainly for hospitals in India, Europe, Africa and the United States.
Funding to aid TiaTech value-driven systems
The company’s CEO and founder Dr Ramesh Madhavan said the investment will immensely support their efforts in creating value-driven systems in the healthcare sector.
Earlier, Balaram had taken part in the Angel round fund raising of TiaTech. The current funding of US $3 million will be utilized to facilitate the growth of the company including marketing and team building, Dr Madhavan said.
He added that the funding was a recognition of the company’s sustained efforts in digitizing the health delivery systems to make healthcare affordable.
Founded in 2015, TiaTech has offices in Thrissur, Kochi, Bengaluru and the US. KSUM is the nodal agency of the Kerala government for entrepreneurship development and incubation activities in the state.