About Covacare
Covacare is a company based in Bengaluru (India) founded in 2017. Covacare has raised $47.61 thousand across 1 funding round from investors including Sandhya Sumithran.
- Headquarter Bengaluru, India
- SectorsHealthcareTechnology
- Website covacare.ai
- Social Facebook
- Legal Name Cova Medicare Private Limited
- Date of Incorporation 08 Sep, 2017
- Jurisdiction Bangalore, Karnataka, India
- Net Loss-₹29 Lakh
FY 2024 · -403193% margin
- EBITDA-₹28.7 Lakh
FY 2024 · -398445% margin
- Total Equity Funding$47.61K (USD)
in 1 rounds
- Latest Funding Round$47.61K (USD), Angel Round
May 2021
Associated legal entities of Covacare
Covacare operates through Cova Medicare Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Cova Medicare Private Limited CIN U74999KA2017PTC106234 | Active | 08 Sep 2017 | Bangalore, Karnataka | ₹0.0 Cr | – | 3 | View details |
Funding Insights of Covacare
Covacare has successfully raised a total of $47.61K through 1 strategic funding round. The most recent funding activity was a Angel Round of $47.61 thousand completed in May 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $47,609
- Total Rounds 1
- Last Round Angel Round — $47,609
- First Round $47,609
(May 2021)
- Investors Count 1
All 1 funding rounds of Covacare with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2021 | $47,609 | Angel Round | $434,391 | – |
Last known valuation $434,391 (May 2021). 1 investors in total: 0 institutional and 1 angel.
Investors in Covacare
Covacare has secured backing from 1 investor, including angel investors. Prominent investors backing the company include Sandhya Sumithran.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
SS Sandhya Sumithran | - | – | unknown_292734c6620c4ecc9 | - |
Investor details for Covacare
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Cova Medicare Private Limited (Covacare)
Cova Medicare Private Limited is the primary company behind Covacare. The board of Cova Medicare Private Limited currently have 3 directors; the longest-serving is Aryadatta Choudhury, appointed in 2017.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Aryadatta Choudhury DIN 07877834 | Director | 08 Sep 2017 | 9 yrs 1 mo | Cova Medicare Private Limited |
| Sharad Baid DIN 00362748 | Director | 08 Sep 2017 | 9 yrs 1 mo | Cova Medicare Private Limited |
| Mohit Nigam DIN 05353184 | Director | 18 Dec 2020 | 5 yrs 9 mo | Cova Medicare Private Limited |
Financials of Covacare
Figures of Cova Medicare Private Limited, the primary company behind Covacare, for FY 2024. Net loss was -₹29 Lakh (-403193% margin). EBITDA was -₹28.7 Lakh (-398445% margin).
- -₹29 LakhNet loss · -403193% margin
- -₹28.7 LakhEBITDA · -398445% margin
- ₹1.2 LakhPaid-up capital
Balance sheet, profit and loss, cash flow and ratios of Cova Medicare Private Limited are on its company page.
Detailed financial statements for Covacare
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Covacare
2 dated milestones of Covacare across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Covacare is founded.
- Funding First funding round of $48K.
Similar companies to Covacare
10 companies that operate in the same segment as Covacare (Clinical IT & Data Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of fitness memberships encompassing group classes, gyms, and at-home workouts | 2016 | Bengaluru, Karnataka, India | USD 713.57 M | – | – | |
Employee health benefits are facilitated via a cloud-based platform. | 2007 | Plymouth Meeting, Pennsylvania, United States | USD 228.3 M | – | – | |
Healthcare appointments are booked online via Zocdoc's platform. | 2007 | New York, New York, United States | USD 425.97 M | USD 4.66 M | 233 | |
Virtual physical therapy and digital pain care solutions are provided. | 2015 | San Francisco, California, United States | USD 854.44 M | – | – | |
Tech-enabled mental health solutions for employers are provided. | 2016 | New York, New York, United States | USD 508.73 M | – | – | |
App-based health insurance is offered to individuals and businesses. | 2016 | Paris, France | USD 863.12 M | – | – | |
Virtual care programs for managing chronic diseases are provided. | 2011 | San Francisco, California, United States | USD 450.12 M | USD 260.21 M | – | |
AI-driven EMR and practice management software is delivered for clinics. | 2010 | Boca Raton, Florida, United States | USD 329.17 M | – | – | |
Cloud-based administrative tools for healthcare providers are offered. | 1997 | Watertown, United States | USD 40 M | – | – | |
Membership-based primary care platform is offered for employees and consumers. | 2007 | San Francisco, California, United States | USD 402.56 M | – | – |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Frequently Asked Questions about Covacare
Covacare was founded in 2017 and raised its 1st funding round 4 years after it was founded.
Covacare is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Covacare is a funded company, having raised a total of $47.61K across 1 funding round to date. The company's 1st funding round was a Angel Round of $47.61K, raised on May 2021.
Covacare was founded in 2017 and is based in Bengaluru, India. Operations focus on the healthcare sector, where AI-based platforms are developed for real-time patient monitoring. Predictive analysis of symptoms is enabled for conditions such as sepsis and hypokalemia. Vital signs, medication usage, and abnormality alerts are tracked, particularly in emergency care settings, to support clinical decision-making.
Covacare has 1 investor. Key investors include Sandhya Sumithran.
The valuation of Covacare is $434.39K as of May 2021.
Covacare operates through Cova Medicare Private Limited.
The legal entities of Covacare currently have 3 directors, including Aryadatta Choudhury, Sharad Baid, Mohit Nigam.