Healthtech startup Neodocs raises $2 Mn in a Seed funding round
Category: Business News, Posted on: 12/02/2024 , Posted By: Ishika Agarwal
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NeoDocs has been founded by Nikunj Malpani, Anurag Meena, and Pratik Lodha. Using their smartphone, NeoDocs customers may order rapid lab tests. The app essentially turns users' cellphones into little labs; all they have to do is take the test, snap a photo, and get the findings right away on their phone. Tests for panels including hydration, pH levels, sleep, energy, mood, skin, liver health, renal health, ketones, UTI, immunity, etc. are already available on NeoDocs. The healthtech company raised an unknown sum in a pre-seed round led by 9Unicorns, Y Combinator, and Titan Capital in August 2021. Mumbai-based healthtech startup Neodocs has raised $2 million in a seed funding round led by Omidyar Network India, Y Combinator, and 9 Unicorns, alongside other notable investors. The startup, which specializes in developing smartphone-based health test kits, allows users to conduct various health tests from the comfort of their homes, using just their smartphones and a test card. 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 via their smartphone.In order to meet the demand for easily accessible and user-friendly diagnostic solutions worldwide, the firm plans to use the funds raised to further establish its presence in international markets, such as those in Europe, Australia, the Middle East, the Philippines, and the US. Neodoc states that it has collaborations with top pharmaceutical firms including AstraZeneca, Cipla, and Sun Pharma, among others. According to the firm, these collaborations have been essential in standardising test findings under different circumstances, increasing the tests' dependability and accessibility. Additionally, it is closely collaborating with the Governments of Rajasthan and Maharashtra to introduce digital testing to isolated regions of India. The founders of Neodocs, see proactive healthcare as opposed to reactive. Neodocs enable physicians to quickly screen and diagnose patients, allowing for prompt treatment. According to the statement, this strategy not only improves patient care but also attempts to change the focus of healthcare from reactive to preventive, which could change the direction of global health diagnostics.

Neodocs reported that more than 4,000 doctors in India have endorsed the company and that it has sold more than 200,000 test cards. By the next year, the business hopes to have sold over 10 million test kits.


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