Neodocs Bags Seed Funding To Scale Up Health Test Kit Offerings, Expand Globally

SUMMARY

Founded by Nikunj Malpani, Anurag Meena and Pratik Lodha, Neodocs launched two urine test kits called the kidney care kit and the UTI care kit

The round also saw participation from a clutch of angel investors including CRED’s Kunal Shah, Mamaearth’s Varun Alagh, Boat’s Vivek Gambhir, Apollo Hospital’s Harshad Reddy among others

With the freshly infused funds, Neodocs plans to expand globally and enter the markets of Europe, Australia, the Middle East, and the US

Mumbai-based healthtech startup Neodocs has raised seed funding of $2 Mn (around INR 16.6 Cr) led by Omidyar Network India, along with participation from YCombinator, 9Unicorns, Gemba Capital and Titan Capital.

A clutch of angel investors, including, CRED’s Kunal Shah, Mamaearth’s Varun Alagh, Boat’s Vivek Gambhir and Apollo Hospital’s Harshad Reddy among others, also took part in the funding exercise.

The startup plans to use the fresh capital to venture into global markets like Europe, Australia, the Middle East, and the US.

Founded by Nikunj Malpani, Anurag Meena and Pratik Lodha in 2020, Neodocs is a health test kit that enables user to simply take the test, click a picture and instantly receive the results on their smartphone.

It has launched two urine test kits called the kidney care kit and the UTI care kit. While the former helps measure urine albumin creatinine ratio, along with 14 other parameters, the latter helps in screening for urinary tract infections by tracking about 10 parameters.

According to the startup, it has sold over 200,000 test cards till date and is being used by more than 4,000 doctors across India. Currently, it is also working on the development of ‘instant’ finger-prick blood tests that will give results on the phone by just clicking a picture.

Cofounder Malpani said, “India is often referred to as the chronic disease capital of the world, and this is largely due to lack of timely diagnosis. By enabling in-clinic testing Neodocs is empowering doctors to screen and diagnose patients instantly and start treatment immediately.”

The startup claims to be also working with multiple pharmaceutical companies like Cipla, Eris, Sun Pharma, AstraZeneca, Bayer and RPG Life Sciences.

India’s healthtech space has been garnering a lot of traction from investors. Besides, the sector is also seeing a lot of M&A deals.

For instance, in December last year, Zyla Health raised $4 Mn as a part of its Series A funding to scale growth.

Also, recently, diagnostics platform Thyrocare announced the acquisition of Think Health Diagnostics to offer ECG services at home.