Bengaluru, Karnataka Aug 4, 2021 (Issuewire.com) - Acculi Labs Pvt. Ltd. Is a digital home healthcare company. It provides root-cause diagnosis by MOBILE (Mind, Organ, Body, Illness, Lifestyle, Emotions) analysis through its clinical-grade non-invasive application Lyfas. It then offers affordable home therapeutics based on the principles of “minimum medicine maximum outcome” using the functional medicine approach.
The company also provides affordable non-invasive early screening solutions at 100/- and serves a large population of lower-income groups.
The company is supported by startup cell, Karnataka through Elevate grant, department of science & technology through Kawach grant and technology, Ministry of Information & Electronics technology through Derbi foundation.
During the second wave of COVID between April 2021 to June 2021, the company served over 200 COVID patients, with zero hospitalization, zero mortality, and zero patients with post-COVID complications, out of which many patients had severe co-morbidities. They have served over 1100 patients during the entire COVID, from diagnosis, monitoring to recovery. They also served many patients across India whose Spo2 fell drastically during COVID.
That attracted a significant number of urban populations to avail the services of the company. Currently, the company served mostly the urban population of the age groups of 23 to 48, IT employees, and their parents living in different parts of the country.
The USP of the company’s data-driven, human-centric, outcome-oriented services is the 6A service model: Accuracy, Affordability, Availability (Anytime-Anywhere), Asset-Light, Analytics, Awareness.
The company that started in 2017 as an ECG and cardiovascular risk analysis company has pivoted to a digital home healthcare company by 2020, driven by a new group of young & experienced co-founders.
Akbar Patel, who drives the affordable screening vertical, Nimmi Jain, who heads Acculi’s digital business and is one who innovated the entire end-to-end digital home health delivery process, Amit Mogra, who heads Sales, Yogesh Mangal, who heads Analytics and innovator of Acculi’s diagnosis and monitoring Engine, Shabnam, who heads data & compliances, Dr. Surabhi, who heads counseling, Dr. Mini Mehta (Homeopathy) who pioneered company’s therapeutics, and Dr. Subhagata(MBBS, DGO in Gynaecology and Obstetrics, Ph.D. in AI&ML and Post Doctorate in Healthcare Technologies) will be driving the vision, and mission of the company as cofounder & promoters of the company.
Navin, Balaji, Manjula, the other early employees of the company are also to take up important leadership roles in the company going forward.
Just like solving the critical health problems in the resource-constrained emergency COVID situation, the company recently changed the way startups raise Angel investment through raising the round in the public domain for private placement with its PAIO instrument. The salient points of the instruments are:
- Essentially a convertible debenture (CCD) with a 15% Annual Coupon Rate and a 20% discount on the valuation, at the time of conversion to equity, to be achieved within the first three years.
- Investors can invest an amount between INR 10,000/- to INR 10,00,000/-.
- Based on the performance of the company, they can top-up their investment within a year by the same principal amount three more times. So, the company is raising only 25% in cash out of the potential investment amount.
- The expenditure from the PAIO account is limited to 8.5% per month with a minimum revenue criterion of 20% on the expenses.
- If the company fails to generate at least 20% revenue on the expenditure in any quarter, the expenses will be capped to 4.5% every month till the quarter where the company meets the minimum revenue criteria.
- The company can take up to 50% of the PAIO fund as advance, in which case the company needs to give out a monthly 1% dividend to the investors in cash. The principle will be deducted over 12 months and the expense cap will be re-adjusted accordingly.
- The amount needs to be audited every month.
The entire instrument is designed to make the company more transparent, compliant, goal-driven, frugal, and ethical, adhering to the middle-class value system. The instrument also provides security to the investor by limiting the mindless expenditure of the raised fund so that the company can not close down after exhausting the funds.
The instrument aims to break the stereotypical angel investing methodologies for startups where, often HNIs participate in angel rounds through various angel networks and syndicates, making the startup investing more inclusive and flexible. Not only this, the instrument brings several other benefits to the angel investors by utilizing the concept of circular economy & network effect.
Because the minimum amount is only 10,000/-, many salaried and the small business owner became angel investors for the first time. Acculi presented the offer on Linkedin on 25th June 2021. The company also shared its last three year’s performance and vision in the public domain.
187 Subscribers subscribed for a total investment of 2.7Cr. The company reached out to every subscriber, had a one-to-one conversation, and performed due diligence to shortlist 127 investors for a total investment of 1.1Cr as the first trench. 98 Investors invested 93L in total by the closing of the round. 65% of the investors are salaried employees. Almost 83% of the investors invested in the vision of affordable digital home healthcare. 27% of the existing patients participated in the final round.
This fund will be utilized to build process, structures, data standards, privacy standards, AI&ML, compliances, patents, and achieve breakeven within the first 12 months and puts the cornerstone to its vision to IPO by the year 2027.
"We are building the most outstanding service layer in remote care. Understanding human emotions and pains in calls and messages are hard. We are innovating and standardizing Creativity, Conversion, Communication & Connection methodologies for homogeneous long-term patient-experience ". Said, Nimmi Jain, co-founder, and head of Digital Business of Acculi Labs.
“I am joining Acculi after being associated with the company for a month as a clinician due to its fascinating data-driven healthcare. I am overwhelmed by the amount of health data & vitals the company has captured from over 10,000 patients and the sheer possibilities of building the best ML out of this data. My focus will be to take the company to one of the best data-driven end-to-end healthcare companies”. Said Dr. Subhagata who has over three decades of experience as a practicing clinician and AI & ML expertise who joined full-time as the COO of the company.
“Standardization, Certificates, and Compliances are the core of business goals of the company and my focus will be to set these metrics to a public limited company grade”, said Shabnam, who joined the company as a nurse and became a promoter.
“Our focus will be to utilize the network of investors to achieve more B2B deals and at the same time, grow our B2C model organically”. Said Amit Mogra, another co-founder.
“My passion for writing algorithms and correlating various dimensions of data and interest in human physiology and psychology gets fulfilled with my role in Acculi. Our goal will be to build one of the best diagnostics and monitoring Analytics ever based on the amount of digital biomarker data we capture”. Said Yogesh Mangal, another co-founder.
“Acculi is people’s company. We build people, people build businesses. Even though the company’s core is solid science and technological inventions and innovations, our core strength is in managing human connections. PAIO was a much-needed instrument for bringing transparency, accountability, and inclusiveness in startup funding. I am proud of the way the young team has not only grown the business and has taken the company a step towards digital home healthcare, but at the same time executing a difficult instrument like PAIO. We will continue to focus on strengthening our Team and Technology ”. said the CEO and founder of the company.
References: -
1) Initial Offering: https://www.linkedin.com/posts/rupamiics_acculi-labs-pvt-ltd-public-angel-investment-activity-6813737761506492416-dx95
Media Contact
Rupam Das *****@acculi.com 09845048861 31 Basappa Layout, RR Nagar, Bangalore 98, 31, ground floor, Basappa Layout, Pattangere Main Road, RR Nagar, Bangalore http://lyfas.com
