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Everhope Oncology will plans to build medical facilities that will provide diagnosis, treatment, and supportive care for cancer patients
W Health Ventures is a healthcare-focussed VC firm while 2070 Health is a venture studio which builds healthtech startups from scratch
Funding in the healthtech sector has seen a huge slump of 49% to $716 Mn in 2024 from $1.4 Bn in 2022
W Health Ventures, its venture studio 2070 Health, and Narayana Health have banded together to launch cancer care platform Everhope Oncology.
The companies have infused $10 Mn (about INR 86 Cr) in seed funding in the new venture to open medical and surgical cancer care facilities in New Delhi and Mumbai.
Everhope plans to expand to 10 cities over the next three years.
In a statement, the companies said that Everhope will provide diagnosis, treatment, and supportive care for cancer patients, including chemotherapy, radiation, surgery, and palliative care.
Founded in 2019 by Sunil Wadhwani, W Health is a healthcare-focussed VC firm which counts BeatO and Good Health Company among its portfolio.
2070 Health is W Health’s venture studio which was founded in 2023. It identifies healthtech-focussed early stage startups and builds them from scratch by raising capital and running the business with administrative expertise.
The venture studio secured a funding of $30 Mn from W Health two years ago. It claims to have helped scale healthtech startups such as BobyMD, Elevate Now, Nivaan Care, among others.
Meanwhile, Narayana Health, founded in 2000 by Devi Prasad Shetty, runs multispeciality hospitals, clinics and pharmacies with a network of over 23 hospitals in multiple cities and caters more than 110 medical issues.
“Globally, cancer care has seen remarkable innovation—from daycare chemotherapy infusion centres to advanced diagnostics for early detection and breakthrough therapies like CAR-T. With Everhope, we aim to drive oncology innovation in India, working alongside entrepreneurial oncologists across the country who are eager to become business owners.” said Pankaj Jethwani, managing partner at W Health Ventures and chief executive at 2070 Health.
This comes at a time when the funding in the healthtech sector has seen a sharp decline in recent times. Healthtech startups, which raised $1.4 Bn in 2022, managed to raise only $716 Mn in 2024.
However, the sector continues to hold a lot of potential. As per a report by Bain, the Indian healthtech industry is projected to become a $60 Bn opportunity in India by the end of financial year 2027-28.
To make the most of this, W Health focussed is keen on investing in impactful and innovative healthcare ventures that can build technologies and give a better experience to patients in the country.
