Correction: This article previously stated that MedicSpot had raised £1m in funding. We have since corrected the article to specify correct amount raised.
Online GP service MedicSpot has raised a total of £150,000 from Henley Business Angels in an oversubscribed SEIS round.
MedicSpot offers online private GP appointments, given in the consultation rooms of your local pharmacy. This means you can take away a prescription as soon as the consultation is over.
MedicSpot uses tech to allow doctors to carry out full examinations without seeing you in person. This includes a MedicCam, which allows your online GP to look into your throat or ears, a blood pressure cuff, a stethoscope, a pulse oximeter and a thermometer.
The idea behind MedicSpot is to provide a CQC approved private GP service offered via telehealth connection so that people have more appointment options in terms of time and place, making it easier to fit into a busy schedule.
Zubair Ahmed, CEO of MedicSpot, said: “I’m pleased to have received an investment from one of the HBA members. In tandem with other investments it will help us to expand rapidly across the UK and provide a service which patients have responded positively to.”
European venture investment reaches all-time high
MedicSpot claims to have doubled its revenue in the last two months, and hope this fresh funding will allow the company to scale to 300 pharmacies across major cities in the UK and increase patient numbers ten-fold in the next 12 months.
Henley Business Angels operates out of Henley Business School at the University of Reading. It is a network of business leaders, entrepreneurs and investors. The network’s aim is to facilitate opportunities for members to invest in and mentor SEIS registered early stage businesses launched by entrepreneurs who graduated from or are connected with the Henley Business School.
Jurek Sikorski, founder and director of Henley Business Angels, concluded: “MedicSpot has made rapid progress in signing up pharmacies to provide GP services and HBA is delighted to support its growth.”