Pakistan’s healthcare startup oladoc is on its way to securing meaningful investments after it became one of the finalists at an event organised by Startups Istanbul, where it competed and secured third spot in the scaleups category.
The digital healthcare startup connects patients with doctors and helps doctors optimize their medical practice. Patients can book their appointments and lab tests via mobile application, website or a dedicated helpline.
Being a finalist means that oladoc is now among the favorites to raise investment that will help the startup reach its funding goals. The company is now in advanced phases of talks with investors for its Series A round, where it aspires to raise $4m to expand its services across Pakistan and further accelerate its growth.
There are two main categories of competition at Startup Istanbul, a leading startup event where emerging entrepreneurs and investors from all around the world are in attendance. One category is for startups which are looking for initial investment while the other category, which is known as scaleups, is for startups that have generated at least $1 million in funding or revenue.
Oladoc was the only Pakistani startup that made it to the top ten finalists which are selected based on their ability to find and access product-market fit for their product or services along with a pattern of consistent growth. On the scaleup demo day, oladoc got the chance to showcase its growth journey and future scaleup plans for the venture in front of an audience that was filled with investors from around the world.
With over 2 million customers the startup claims to have served in the last 12 months, oladoc made a case for itself and secured third position among the ten global startups handpicked for a demo at Startup Istanbul.
Speaking with the crowd, oladoc founder Abid Zuberi said: “We are privileged to have had the opportunity to help millions of Pakistanis find the right doctor for their needs. Oladoc has larger plans to revolutionise healthcare in Pakistan and receiving the award at this global event today will further drive us to fulfill oladoc’s mission.”
Speaking about fundraising, Abid said, “oladoc is generating a lot of investor interest from around the world given the potential of the healthcare sector in Pakistan. We have investors on board for part of Series A already, and are in the process of securing the rest of the Series A round.”