HBox.ai, a startup building a unique ‘Virtual-First’ care platform, enabling primary to specialty clinics in the US to provide virtual care to its patient base has raised USD 700K in seed funding round led byArali Ventures; a seed stage venture capital company focused on investing in disruptive enterprise tech startups. The US based healthtech startup will deploy the funds to increase its market penetration and build out its product stack.
Founded in 2021, HBox went live with one clinic in March 2021 with its first offering ‘Remote Patient Monitoring-as-a-service.’ Since then, HBox has grown rapidly signing customers in eight US States, resulting in a contracted base of 2,00,000 Medicare patients. The growing convenience of monitoring and treating patients virtually has resulted in a surge in the adoption of HBox solutions. In the first year, the startup witnessed a growing CAGR of 30% on a M-o-M basis. This virtual care solution brings a generational shift through which primary care and specialty care providers can continue to provide services to its patient population proactively.
Mr. Arun Raghavan, Founding Partner of Arali Ventures said, “The pandemic has been a big shot in the arm for digitization in the healthcare market. HBox, with its deep domain understanding of healthcare industry, unique GTM model and superior technology stack is very well positioned to become the platform of choice to the fragmented primary and specialized care markets. HBox is the perfect example of a company democratizing technology usage to disrupt a traditional industry.”
Mr. Banu Prasad Dhanakoti, Co-founder and CEO of HBox Inc said, “Adoption of technology in healthcare is starting to disrupt the traditional care delivery models in the overall $3T US healthcare industry. We, at HBox, are at the forefront of this disruption and are building a virtual first care network and platform by reimagining care delivery using technology and innovative partnership-based business model with existing care providers.”
Founded by experienced tech professionals, Arali Ventures has invested in 12 seed stage enterprise/B2B tech startups since 2019. HBox.ai is their second investment in the healthtech industry with the previous investment being in Norwegian med-device company called Oivi. Their portfolio includes enterprise tech startups namely, Wiz Freight, FinBox, Wingman, Unbox Robotics, CynLr and Insent.AI (acquired by ZoomInfo).