Yesterday Robin Wauters argued on Techcrunch that web 2.0 is dead, it is reflected in his analysis of the term web2.0 on Google trends and is also implied in all the recent funding news, the other day we reported the funding in VAS space and now it is GIS and Healthcare. The recent liquidity crunch has made more and more Venture Capitalists to return to the basics and concentrate on realistic evaluations of the ventures with real value addition.
It is reported that Qualcomm Ventures, the venture capital arm of wireless technologies and data solutions firm Qualcomm Inc, has invested $9 million in MapMyIndia. MapmyIndia is well known for its services and solutions based on geographic information systems and location-based business intelligence. It provides its services through hand held devices, mobile phones and automobiles. Now with the recent funding from Qualcomm ventures, MapMyIndia is looking for an overseas expansion and also planning to leverage Qualcomm’s technology to strengthen its services. MapMyIndia is a product of CE Infosystems which had earlier raised funding from Kleiner Perkins Caufield Byers, Sherpalo Ventures and Nexus India Capital in two rounds,It is reported that all Its existing backers have also participated in this round.
In another news it is also reported that Rx HealthCare Magic, which runs a healthcare portal HealthcareMagic.com, has raised Series A funding of $2.5 million from Accel India. Bangalore-based HealthcareMagic is a medical consultation and referral portal which allows users to interact live with doctors. It currently has around 50 employees, which include 34 doctors. The company earns its revenues through medical consultations online and via telephone. The company has already tied up with five operators – Reliance Communications, Idea Cellular, Aircel, BPL Mobile and Tata Teleservices, while only BPL is currently Operational. With the recent funding from Accel, HealthcareMagic is planning to expand it’s services by investing the funds on technical infrastructure, and expand it’s sales, marketing and operations.
I used Accel’s healthcare portal, HealthcareMagiccom . Quite decent and good looking. A lot of things will need to be made better if technolgy permits. Interaction with the doctor is awesome.They are quick and they give good answers. Video chat is not possible now so I cannot see the doctor. Also file sharing can be added so I can send some information to the doctor. My feedback is that HealthcareMagic is a great move in this space.The company has to keep up the good work and get technical expertise in video streaming and file sharing.