With plans of getting into the health care segment and making doctors appointments part of its app in future, online mobile wallet entity Paytm said it had invested in QorQl, an online health care start-up.
While the plan behind the investment and even the amount was not disclosed, sources say Paytm is considering the idea of adding a division related to some aspects of health care. If things go according to the reported plans, Paytm is looking at an earning of as much as Rs 10,000 crore annually from this in the next few years.
"The Paytm wallet is already being extensively used by doctors, hospitals and nursing homes for payments. With this investment, if has opened the option of booking doctors appointments. This would fit well in the Paytm app eco-system. However, everything is still at a nascent stage and there are no concrete plans around it," said a source close to the company.
QorQl plans to use artificial intelligence (AI) and Big Data to improve productivity and care quality of doctors, and to help patients manage their health and existing ailments. Its Qcare solution says it offers doctors access to patient health and clinical data at the touch of a button.
"The sector largely works on an acute shortage of information, both on the consumer side and on the side of health care professionals. There is, hence, a need of real-time data collection and of improving the overall care process with advanced analytics and AI," said Sudhanshu Gupta, vice-president.
Some sources also say it might not get into other aspects of health care and health tech but stick to appointments.
"Our connected health applications are leveraging AI and Big Data to collect, integrate and interpret data for all users. This not only helps us solve tough problems but helps our users to stay healthy," said Sanjay Singh, founder and chief executive of QorQl.
The service is currently available in the Delhi region and Aligarh, while in the process of expanding to other tier-II markets.
Paytm in the past was a lead investor in a $10-million funding round in autorickshaw service aggregator and hyperlocal delivery firm Jugnoo. It had also acquired Delhi-based consumer behavior prediction platform Shifu for $8 mn and local services start-up Near.in for $2 mn.