Tencent Leads $90 Million Series C Funding Round for Medical Search Startup Practo

Tencent (HKG:0700) is expanding into the Indian healthcare market by leading a $90 million round of Series C funding for the medical search company Practo. Google Capital, Yuri Milner, Sofina, Altimeter, and investors at Sequoia and Matrix also took part in the Series C round.
According to Tech Crunch:

Bangalore-based Practo has a two-sided business model which consists of a marketplace/search portal that connects patients with doctors and medical organizations, while it offers practice management software — Practo Ray — that helps it build relationships with the latter. The company claims to have 200,000 doctors, 8,000 hospitals and 5,000 diagnostic centers across 35 cities in India on its platform. It has expanded into Singapore and Manilla, Philippines, where it said it has 80 percent of doctors from both cities on its search service.
Following its Series B earlier this year, Practo founder and CEO Shashank ND told TechCrunch that the company had aggressive plans to expand its presence both inside India and overseas into new regions. That remains the case, albeit that this fresh injection of capital will expedite those growth plans further still.
Confirming that this new round originated from inbound interest from investors, Shashank said Practo is close to launching officially in six new countries. The company is aiming to be in 100 cities in India and 10 international markets across Southeast Asia, Latin America, the Middle East and Eastern Europe by March of next year.

Click here to read the entire article on Tech Crunch.