mfine, an India-based health technology startup, has bagged $17.2 million in a Series B round of funding.

Japanese venture capital arm of SBI Group, SBI Investment, led the round with participation from Singapore's SBI Ven Capital and BEENEXT, alongside existing investors, Stellaris Venture Partners and Prime Venture Partners.

With the new capital raised, mfine, which has raised a total of over $24 million in funding to date, will augment its delivery of artificial intelligence (AI)-driven, on-demand healthcare services across India.

Additionally, the new funds will help the startup spruce up its hospital network across the country, build its AI technology and expand its recently launched new services.