The Mumbai based healthtech firm Neodocs has raised $2 million in a seed fundraising round headed by 9 Unicorns, Y Combinator and Omidyar Network India, among other prominent investors.
Neodocs specializes in creating test kits for smart phones, a must have utility in modern times. As per the company statement, the raised funding will assist the firm in expanding its worldwide reach into countries such as Europe, Australia, Middle East, Philippines and US. This will help satisfy the global demand for easily accessible and user-friendly diagnostic solutions.
Neodocs intends to concentrate on improving its range of products with a specific emphasis on its kits for kidney care and urinary tract infections (UTIs). The business has also introduced a new device, a rapid finger-prick blood test that claims to provide users with fast results on their smartphone.
Neodoc has collaborations with top pharmaceutical firms including AstraZeneca, Cipla, and Sun Pharma among others. According to the firm, these collaborations have been essential in standardizing test results under different circumstances, increasing the tests’ dependability and accessibility.
Neodocs enable medical professionals to quickly screen, diagnose, and treat patients. The firm has recently collaborated with the governments of Rajasthan and Maharashtra to introduce digital testing to isolated regions of India. This strategy not only improves patient care but also seeks to change the paradigm in healthcare from reactive to preventive, possibly revolutionizing the field of global health diagnostics.
The firm has endorsements of more than 4,000 physicians in India and has sold more than 2 lac test kits. The business wants to expand its network and sell more than 10 million test kits by the next year.
