Revolutionizing Healthcare: Lifechart Connects Patients with Ayurveda Doctors Through Digital Channels

For the past three decades, Mukul Shah's mother has been battling Type II diabetes. Unfortunately, prolonged use of conventional medications took a toll on her kidneys, leading to digestive issues and various health complications. Frustrated by the limitations of mainstream medicine, Mukul embarked on a quest for alternative solutions, and his research consistently pointed to Ayurvedic treatments.

However, Mukul encountered a significant hurdle when trying to find qualified Ayurveda doctors. He recalls, "When I began searching for Ayurveda doctors, there was no reliable way to locate certified practitioners. Fortunately, a friend of mine recommended an Ashram located 250 kilometers away from Delhi. Yet, there was no efficient booking management system, and the process lacked digitalization." Despite these challenges, Mukul managed to take his mother to the Ashram for consultation. After undergoing the program for six months, he witnessed a remarkable improvement in his mother's health, with her dependency on modern medications reduced to just 20%.

This transformative experience inspired Mukul to create an alternative healthcare ecosystem for India and the world, leading to the birth of Lifechart. Founded in 2021 by Mukul Shah, K Sandeep, and Mansi Sharma, Lifechart is a holistic gut specialist brand that offers solutions for various digestive issues, including constipation, indigestion, gas, piles, and fatty liver.

Mukul, a serial entrepreneur, crossed paths with Mansi at his previous venture, Yolo Bus. Sandeep, who had known Mukul since 2019 when Mukul was searching for a CTO for Yolo, eventually joined as a co-founder at Lifechart.

Based in Gurugram, Lifechart has cultivated a network of 500 doctors and 30 health buddies across India and has provided consultations to 1.5 lakh patients to date.

Connecting Patients to Doctors

Lifechart offers comprehensive end-to-end solutions, guiding patients from the initial disease discovery stage to recovery. Patients can access Lifechart through multiple avenues:

1. Mobile App: Patients can download the Lifechart app from the Google Play Store, connecting with Ayurveda doctors within 60 seconds through AI-based technology. The app offers clinically-tested products recommended by doctors, followed by disease recovery and patient care management programs.

2. Social Media: Lifechart maintains a robust presence on social media platforms like Facebook, Instagram, and YouTube. Patients can interact with doctors through these channels and even book appointments.

3. Website: The Lifechart website serves as a platform for product browsing and teleconsultation booking. Although the products are currently available only on the Lifechart website, the startup plans to expand to e-commerce platforms in the near future.

Once a customer logs in to the Lifechart website, a health buddy is assigned to provide guidance on dietary and lifestyle changes. These health buddies, trained pharmacists, conduct a preliminary diagnosis and then transfer the call to a doctor.

The product formulations are developed by an in-house team of doctors at Lifechart Labs and undergo testing at FICCI labs. Lifechart offers over-the-counter (OTC) products, meaning they don't require a doctor's prescription for purchase. To bridge the education gap about Ayurvedic medicine, Lifechart offers free 24x7 consultations.

Business Model and Revenue

Lifechart operates on a B2C model, offering digital doctor consultations and doorstep product delivery. The platform charges a consultation fee ranging from Rs 5 to Rs 20 per minute, depending on the doctor's experience, with most consultations lasting around 15-20 minutes.

The startup has developed an in-house AI generative engine that collects customer data during consultations, enabling the prediction of future demand and the introduction of new product categories. Based on this data, Lifechart has launched five instant gut relief products, including formulas for constipation, fatty liver, gastric issues, piles, and indigestion.

These products, priced between Rs 320 and Rs 2,300, come in the form of vegan capsules, syrups, and powders. Lifechart is actively working to educate customers about Ayurvedic medicine and aims to provide new-age diagnostic tools to Ayurvedic doctors.

Traction and Future Outlook

According to IMARC, the Ayurvedic products market in India reached Rs 62,600 crore in 2022 and is projected to reach Rs 1,82,400 crore by 2028, growing at a CAGR of 19.3% during 2023-2028.

Lifechart started generating revenue in November 2022 and reported an Annual Recurring Revenue (ARR) of approximately Rs 2 to 2.4 crore by August 2023. The startup expects to reach Rs 6-6.5 crore by the end of the 2023 financial year while maintaining unit-level profitability.

Equipped with robust technology, a diverse product lineup, and effective distribution models, Lifechart has positively impacted the lives of 150,000 customers. The startup aims to achieve a net revenue of Rs 40 crore by the end of FY24 and has ambitious plans to reach Rs 500 crore in net revenue by FY26.

Lifechart has secured approximately $200,000 in funding from notable investors, including Nitish Mitterssain, the Founder of Nazara Technologies, as well as support from ExpertDojo, a US-based VC firm, and Sunn91 Ventures. The founders initially invested around Rs 20 lakh to kickstart the business.

In the competitive Ayurveda market, Lifechart stands out by leveraging cutting-edge technology, including AI-driven diagnostics and demand prediction. The startup is well-poised to continue its growth trajectory and make a significant impact in the healthcare industry.