Healthtech Startup 4baseCare Bags $6 Mn To Offer Cancer Care Solutions

SUMMARY

The funding round is led by Yali Capital along with an undisclosed host of investors

The company plans to deploy the fresh capital for ramping up its product offerings focused on building genomics and digital health solutions

Back in 2021, the company reportedly raised $2 Mn in its Pre-Series A funding round

Healthtech startup 4baseCare has secured $6 Mn (around INR 50 Cr ) in its Series A funding round led by Yali Capital.

The round also saw participation from an undisclosed host of investors.

The Bengaluru-based company plans to deploy the fresh capital for ramping up its product offerings focused on building genomics and digital health solutions.

Additionally, the company is planning global expansion, targeting Asian and Middle East markets.

4baseCare is also setting up genomics laboratories in the Philippines, Nepal and Dubai, the company said in a statement.

Founded by Hitesh Goswami and Kshitij Rishi in 2018, 4baseCare develops precision oncology solutions by leveraging advanced genomics and next-gen digital health technology.

Precision oncology is a category-centric approach to cancer treatment ,ensuring the treatment to be specifically designed as per patient’s unique type of cancer.

Back in 2021, the company reportedly raised $2 Mn in its Pre-Series A funding round to increase utilisation of genomic tests in oncology.

In 2020, Speaking to Inc42, Goswami said that most companies in the space today provide diagnostic tests, based on global genomics data. Even if a majority of the companies do provide genomics solutions in cancer care, it is just a tiny speck in their large portfolios.

The development comes at a time when cancer care solutions-focused healthtech startups in India are gaining a lot of traction from investors.

For instance, last month, biotech startup Immuneel Theraputics secured around $12 Mn (around INR 100 Cr) from Taiba Middle East FZ LLC.

Icanheal raised INR 15 Cr (around $1.8 Mn) in a seed funding round to offer customised healthcare financing solutions to cancer patients.

As per a report by National Centre For Disease Informatics And Research (NCDIR), approximately one in nine people in India is expected to face a cancer diagnosis during their lifetime. In 2022, the projected number of new cancer cases in India was 1,461,427, with an incidence rate of 100.4 per 100,000 individuals.