Indian health tech startup Dozee has secured $6 million in funding as part of its Series A2 round, with participation from existing investors Prime Venture Partners, 3one4 Capital, and YourNest VC, as well as new backers including State Bank of India, J&A Partners family office, and Dinesh Mody Ventures.
This brings the total funds raised by Dozee to over $15.8 million across four funding rounds. The company plans to use the capital to onboard over 2,000 hospitals across India in the next two years and expand its operations globally. The funds will also be utilized to strengthen Dozee’s research and development (R&D) capabilities.
Dozee, founded in 2015 by Mudit Dandwate and Gaurav Parchani, offers a contactless patient monitoring system that enables healthcare workers to remotely monitor vital parameters such as heart rate, respiration rate, blood pressure, and temperature.
It also provides an early warning system that alerts doctors about any clinical deterioration in a patient’s health. The platform aims to penetrate deeper into the Indian healthcare market and extend its reach to more districts across the country.
Dozee’s CEO, Mudit Dandwate, stated that the company’s goal is to make ‘Made in India’ products a global success and to reach every corner of the country.
The latest funding comes at a challenging time for the Indian startup ecosystem, which is facing funding constraints and regulatory uncertainties, including potential bans on online pharmacies.
However, health tech SaaS (Software as a Service) platforms have been gaining traction in terms of funding, with recent funding rounds for companies such as HealthPlix and acquisitions like MediBuddy’s acquisition of the Indian business of US-based Aetna.
With the additional funding, Dozee aims to further establish itself in the competitive health tech market, where it faces competition from global giants like Biofourmis and iRhythmTech. The company’s focus on remote patient monitoring and early detection of health deterioration has the potential to significantly impact patient care and outcomes, especially in the current healthcare landscape.
By expanding its operations and R&D capabilities, Dozee aims to continue its growth trajectory and contribute to the advancement of healthcare technology in India and beyond. Overall, the funding will enable Dozee to further its mission of improving patient care through innovative health tech solutions.