Shelley Saxena launched Sevamob in 2012 with $46,000 of founder funding and a vision for bringing primary healthcare to India’s rural poor. “We began by testing door-to-door sales to individual patients, but the high cost of customer acquisition revealed an expensive and unsustainable model,” Saxena explains. He adds, “We experimented and ultimately developed a group-sales model that the market seemed to validate.” With that initial traction, Sevamob participated in Village Capital’s global health accelerator program later that year and was awarded one of two $50,000 convertible note investments through the program’s peer-selection process. “We were as impressed with Sevamob’s potential as Shelley’s cohort peers were. He had done a lot with limited resources, and we believed that flexible early-stage capital could create the right runway to build out the company’s new B2B model,” reports Victoria Fram, Managing Director of VilCap Investments.
Over the next year, Sevamob developed its suite of healthcare services, deploying teams of medical professionals to provide consultations, rapid tests, medication, dental, and vision services to patients at rural schools, NGO’s, and corporate offices. In 2014, Sevamob opened two lines of credit and raised a seed round, ultimately led by ADAP Capital. In reviewing investment opportunities, ADAP Capital’s Andy Lower explains,