LabStreet is an on-demand platform that makes it easy for patients to get diagnostic tests done at their doorstep from leading laboratories in the city. On a mission to add more transparency and trust in lab tests, LabStreet is growing 50% month on month and has reached 150 transactions per day. The startup was founded by 2 IIT Delhi alums.
LabStreet Founders: Lalit Mittal and Ujjwal Chaudhry .
Seed Funding received by LabStreet: $160,000.
LabStreet Investor: Click Labs
We talked about LabStreet with their founders and here’s all that they said.
Q) Tell us about LabStreet and your personal motivation to start this.
LabStreet is a premium diagnostic brand which helps patients get blood and tests done conveniently. We were working on a diabetes management mobile application and spoke to several people about the key challenges. We realized that the recurring theme was the difficulty which people face while getting blood tests done. The customer experience was pathetic where they would have to call the diagnostic center multiple times for the sample collection.
Q) What sets LabStreet apart from the competition?
- We provide the lowest Turn Around Time for for test reports in the industry and we will be able to further reduce it in the next few months.
- Our best-in-class home sample collection system which we have completely automated. We have the highest on-time collection in the industry.
Q) Put some light on the technology used to build LabStreet?
We have primarily set up our web sales channel on AngularJs (revamped the earlier version from JSP) and are piloting our Android App these days. Some of the tangential systems supporting our sales platforms & operations are developed in NodeJs, while some partner sales channels were built as an android app as well. Most of the backend is made using Spring (Java).
Q) What was technically the most challenging part of developing LabStreet?
Labstreet is technically an amalgamation of two major areas of focus: Consumer & Business. While consumer side is an everlasting ride where you evolve along with the consumer behaviour patterns and growing/changing expectations, business side brings out a challenge to reduce human involvement as much as possible while keeping it steady. Bringing reports to the customers as soon as they are prepared and approved has been the most challenging part of our journey so far. The permutations and diversity of human errors involved in that processes have sent the inertia for fixing this problem in the industry sky-high and standardising the quality in that would be a real challenge for us.
Q) How are you marketing LabStreet to make it a first preference in the market?
Majority of our customers are acquired organically and through word-of-mouth. We also have strategic tie-ups in place with other healthcare providers which ensure that customer hears about us at the right time.
Q) How is LabStreet empowering the on-demand healthcare market?
Our home collection system helps consumers get their tests done on time conveniently. We have highly trained phlebotomists (persons who collect blood sample) who ensure that the blood samples are collected in a scientific manner (and with least pain), and stored in the right manner so that the tests can be done accurately.
Q) Approximately, how many orders/transactions do you book in a single day?
We are currently doing 150 orders per day and growing with 50% month on month growth.
Q9. LabStreet raised $160,000 in the recent round of funding. What would be your future plans for expanding LabStreet?
We are creating the largest network of pathology labs. There are 60,000 pathology labs in India with 88% in unorganized sector. The neighbourhood labs are unable to compete with corporates like Dr. Lal and SRL. We are trying to bring the best neighbourhood labs under a single brand. We are helping these labs provide a better customer experience and reduce their costs through economies of scale.
Q) Where do you see LabStreet 5 years down the line?
We will be able to capture 30% of Indian pathology market through tie-ups with 6,000 labs.
Q) What is the biggest hurdle that you faced or are still facing?
The biggest challenge is making customers aware of the importance of healthcare diagnostics and how it can help them remain healthy.
Q) Any word of advice for all the startups out there who are trying to make it big like LabStreet?
Don’t listen to anyone else except the customer.