Chinese Internet Giant Tencent invests in Healthcare Startup Practo

Indian healthcare information provider Practo has managed to get $90 million fund from Chinese internet giant Tencent Holdings Ltd. Practo has raised total $124 million funding amount which also includes investments from Google Capital, Sofina, Altimeter Capital, Matrix Partners, Russian billionaire Yuri Milner.

Practo helps its consumers by providing online search tools to find healthcare professionals such as dentist and other specialist doctors.  It also provides a paid-for service for doctors which is known as ‘Practo Ray’, that claims to allow the clinics to have the digitalised scheduling, billing and other services. The company wants to expand its business with the funding amount they have raised.

Practo has employed around 1500 employees globally and operates in India, Philippines and Singapore. The company is making its plans to add another 1000 people in the next 12 months and expand its business in many other big countries like Latin America, Europe, Middle East etc. According to the company it receives more than 10 million searches on a monthly basis.

Reportedly, another Chinese investor Alibaba Group Holding Ltd. has already made an investment in Paytm, India’s mobile wallet service. This investor might invest in Snapdeal as well, which is India’s one of the biggest online market places.