Paperplane: 100X.VC Investment Thesis



 

Introduction

In the past decade, the world has undergone a paradigm shift with digitization becoming a way of life. The segment of healthcare that specifically concerns doctors and their practices has for long been on the cusp of digital transformation with the need for alternate media to connect doctors with their patients looming large, but to little avail. Moreover, the accomplishment of greater accessibility, inclusivity and transparency figures in the same line of reasoning making pushing the frontiers of the intersection of medicine and technology more imperative than ever.

In India, medicine is a trust-based enterprise especially in Tier 2 and 3 cities where people are usually uncomfortable with using aggregators for healthcare services, and that brings to the fore another enfeeblement of the current healthcare system underscoring the need for a doctor’s personal brand and identity. According to the ‘think with google-digital journey to wellness’ survey, 77% of patients look for doctors and book appointments using search engines indicating that the importance of social selling in the profession cannot be emphasized enough, but the status quo points only to stagnant practices as almost all of the doctors lack the means to capitalize on this significant change in patient-behaviour. Moreover, existing digital solutions list doctors with their competitors and constrain their patient engagement within their own app or ecosystem.

In order to overcome all these challenges, which have become more pronounced in the wake of the COVID-19 pandemic, and make medical practice easier than ever, Paperplane emerges as a one-stop solution to enable doctors to connect with care-seekers seamlessly while also carving an extensive brand for them in order to better their reach. Their product suite empowers brick and mortar medical clinics to build a powerful online presence, manage their day-to-day engagements, and provide a personalised experience to their end patients without the need of downloading any new application. In short Paperplane is building a Shopify for Healthcare. From one-click appointment booking and hassle-free payments to helping doctors build their brand and deliver prescriptions effortlessly, they take care of all the workflows so the doctors can focus on what they are best at - their practice.

Market opportunity

India currently has 900,000 doctors practising independently and the number is projected to reach around 1.1 million by 2025. This makes their TAM worth 3.5 billion USD just inside India and 36 billion USD worldwide. 

Around 1/3rd of India’s population is using Whatsapp- the rise of start-ups like bikayi and digital showroom shows that consumer behaviour has changed with the active usage of WhatsApp as an e-commerce platform thriving as a ramification. People are already selling products online, it’s just a matter of time they start selling their skills too.

Paperplane offers a range of unique features with the needs and comfort of the doctors and the care-seekers meticulously weaved into them. Now doctors can interact with their patients without having them download any new application. Our “Apps inside Whatsapp” model along with vernacular language support effectively brings down the drop-off rate to zero and provides the next billion users of this country the perfect healthcare experience. Engaging with new patients has never been easier- our platform empowers doctors to start digital marketing with zero effort and improve their brand recall monumentally.  

We have made Prescription writing and medical record maintenance a fluid experience with our AI-powered consultations which are almost 3 times faster and better than any other player in the market.

By reducing the cost of starting a medical practice to zero, Paperplane is all set to take the market by storm, and with more optimised operations, doctors can now save a day every week, leading to a 20% increase in revenue.

100X.VC  Thesis

The Founders Devansh, Dhruv, Aryan and Varun met in their undergraduate college and have known each other since then. Having worked on multiple projects together and won accolades across various international competitions, the group started up Paperplane in July 2021 in the Healthtech sector.  The co-founders have a history of working in early-stage and growth-stage startups like Frontrow and Upraised across the development and product roles. Paperplane team are solving efficiently and additionally a space which has been tracked by 100X over the last one year. Their approach to go after Doctors is the right one and we are confident of the space scaling.

Conclusion

“People lived in villages, then people lived in cities, now people live on the internet, through social selling, people have already started selling products online, it's about time they start selling skills too!". 100X.VC believes that Paperplane has the potential to fly high and reach great heights. The ongoing pandemic has seen a boom in the healthcare industry and made people realize its real importance. Paperplane comes with both a mission and a vision and a vast amount of opportunities seen in the upcoming years and we wish the founders best of luck.

- 100X.VC Team

Published on: October 11, 2021