The following is an interview conducted by me with the founders of CupidCare.
When was the company founded and by whom?
CupidCare was founded in the month of April 2016. The co-founders are graduates from IIT and BITS. Both the co-founders were colleagues at a Bay Areas based healthcare consulting firm. Krishna is IIT (BHU) graduate, and worked as Associate Consultant, at Orbees Medical and Product Manager for DocAxon, a mobile application for physicians. Sriram is BITS Pilani graduate worked with Tracxn as Practice Area Lead in Healthcare.
What does the company do, what is the product/technology?
CupidCare is an online sexual health, mental health and women’s health platform. With the taboo surrounded around sex, people hardly open up and are too shy to consult a doctor. CupidCare provides platform where one can seek consultation from verified sexual health experts with complete anonymity and privacy.
How much are the products/services priced at?
Through CupidCare, a user can talk with MD specialists at price as low as INR 300. Additionally, the users can also ask their questions for free to get an opinion about their concern. We are set to launch audio and video consultation services where the user can directly talk with our experts via phone or video service through our platform.
Any buyers/users from different parts of Asia?
Our current user base is primarily from India. However, being an online platform, we receive a good traction other Asian countries such as Singapore, Malaysia and other parts of the world. During our first 3 months, we received about 25% international traffic.
What is the business/revenue model of the company?
We work on a commission basis. Our current revenue is from paid consultations and diagnostic tests ordered through our platform.
What other streams of revenue do you foresee? What are the future plans for your company?
In addition to the above mentioned we will monetize through content, commission from appointments bookings, and promotion of sex education to educational institutions. We will also monetize through partnership with online pharmacies, sexual wellness companies, and generate leads to corporate hospitals for procedures and helpline for sexual health focusing on tier 3 and semi urban regions.
CupidCare envisions to be a complete healthcare delivery model for sexual health concerns which includes consultations, diagnostic tests and expand globally.
What are your achievements so far?
We have served over 800 clients, with about 200 paid customers with 15 MD specialists in sexual health on-aboard. We are winners of TiE Smashup 2016, Hyderabad held earlier this year. We are finalists of BPC-2016, Leadership Conference to be held in August 2016.
Your thoughts on biotech and healthcare startups in India/Asia, in general?
With the boost given by the governments to startups coupled with increase in research in healthcare, technology has a bright path for healthcare and biotech startups in India and Asia. From discovery of healthcare professionals to treatment, there is a huge gap and I believe that startups would bridge the gap.
For a healthcare startup, 3 things are of most important:
- The core team needs to have medical expertise
- Follow up with your customers is required
- Focus on customer comfort and satisfaction