Mumbai-based healthtech startup Neodocs has successfully raised $2 million (approximately INR 16.6 crore) in seed funding, led by Omidyar Network India, with participation from YCombinator, 9Unicorns, Gemba Capital, and Titan Capital. The funding round also saw contributions from prominent angel investors, including Kunal Shah from CRED, Varun Alagh from Mamaearth, Vivek Gambhir from Boat, and Harshad Reddy from Apollo Hospital.
The startup plans to utilize the fresh capital to enter global markets such as Europe, Australia, the Middle East, and the US, expanding its reach beyond India.
Founded in 2020 by Nikunj Malpani, Anurag Meena, and Pratik Lodha, Neodocs offers health test kits that enable users to conveniently perform tests, capture images, and receive instant results on their smartphones. It has introduced two urine test kits: the kidney care kit and the UTI care kit, which provide comprehensive analyses of various parameters related to kidney health and urinary tract infections respectively.
Neodocs boasts a significant user base, having sold over 200,000 test cards and gained the trust of more than 4,000 doctors across India. The startup is also working on developing instant finger-prick blood tests that promise to deliver results directly to users' phones through a simple image capture process.
Commenting on the funding, co-founder Nikunj Malpani emphasized the importance of timely diagnosis in combating chronic diseases, stating that Neodocs aims to empower doctors with instant testing capabilities to initiate prompt treatment.
With partnerships already established with leading pharmaceutical companies such as Cipla, Eris, Sun Pharma, AstraZeneca, Bayer, and RPG Life Sciences, Neodocs is poised for further growth and innovation in India's dynamic healthtech landscape.
The investment in Neodocs reflects the growing interest of investors in India's healthcare sector, which has witnessed significant funding activity and notable mergers and acquisitions in recent months. This funding round underscores Neodocs' potential to drive positive impact and innovation in the healthcare industry, both domestically and internationally.