In a significant development, AllTrak, a leading healthcare technology and logistics platform, has successfully raised INR 4.2Cr in a pre-series funding round led by Inflection Point Ventures. The infusion of funds will be strategically directed towards team expansion, technology enhancement, and the expansion of logistics operations across multiple cities in India.
AllTrak, positioned as a B2B HealthTech company, provides an end-to-end solution for diagnostic companies. Their comprehensive offerings include a Technology SaaS platform, a pan India shared logistics network, and a phlebotomist network, all aimed at supporting healthcare companies in serving their patients effectively. The AllTrak ecosystem is designed to accelerate the growth of healthcare organizations, ensuring a seamless solution for swift patient report turnaround, thereby empowering these companies to enhance profitability, service quality, and client satisfaction.
Founded in 2021 by industry veterans Amit Gupta and Tarun Sharma, AllTrak benefits from deep domain expertise in the healthcare industry. Amit Gupta, with over 20 years of experience in building technology platforms, has a background in Electronics and Telecommunication. Co-founder Tarun Sharma, holding a BCom degree from Delhi University, boasts 15+ years of work experience in healthcare operations, managing large-scale operations at a pan-India level with a fleet of over 3000.
Vikram Ramasubramanian, Partner at Inflection Point Ventures, expressed enthusiasm about the funding round, stating, “Following the challenges posed by the Covid pandemic, we have collectively recognized the vital significance of timely delivery of diagnostic healthcare samples that are essential for optimal patient care and effective treatment planning. The integrated approach designed by AllTrak helps overcome logistical bottlenecks, contributing to more effective and streamlined transportation and tracking for healthcare providers, ultimately contributing to the betterment of the industry. With its timely delivery, AllTrak is a category creator and leader, showing a promising future in the diagnostics healthcare market.”
AllTrak’s technology platform currently tracks and monitors an impressive 7 Lac patient samples per month. The tech-enabled logistics network spans across 50+ cities, including major metropolitan areas such as Delhi NCR, Mumbai, Pune, Bangalore, Hyderabad, Chennai, Kolkata, and numerous tier 2 and tier 3 cities. With 5000+ registered healthcare professionals, the platform handles 5,00,000+ visits per month and boasts 10,500+ networked pickup locations/centres.
Amit Gupta, Founder & CEO of AllTrak, emphasized the platform’s role in the growing healthcare sector in India, saying, “India GDP is all set to reach at $5T by Y2027 and $10 by Y2035. Healthcare is going to be one of the important sectors for India to grow. We want to grab this opportunity and build and offer a robust ecosystem for healthcare companies to grow. The support from IPV investors has helped us in the journey and our vision to revolutionize healthcare Industry. We appreciate the overall process for seamless deal flow.”
According to a report published by Polaris Market Research in March 2023, the Indian diagnostic services market is on a significant growth trajectory, with a valuation of USD 14.57 billion in 2022, USD 16.23 billion in 2023, and a forecasted reach of USD 43.57 billion by FY32. AllTrak’s strategic funding positions it strongly in this dynamic market, marking a noteworthy milestone in its journey of revolutionizing the healthcare industry.
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