It now plans to expand its footprint in international markets, including Europe, Australia, the Middle East, and the Americas.
Neodocs, an IIT Bombay alumni initiative building instant and affordable smartphone-based test kits, announced today that it has raised Rs 16.6 crore ($2 million). The round was led by Omidyar Network India, an investment firm focused on impact. Other investors include YCombinator, 9Unicorns, Gemba Capital, Titan Capital, and angels such as Prashant Tandon and Gaurav Agarwal (1Mg), Rohit MA (Cloudnine), Kunal Shah (Cred), Varun Alagh (Mamaearth), Viren Shetty (Narayana Healthcare), Harshad Reddy (Apollo Hospitals) and Vivek Gambhir (Boat).
It now plans to expand its footprint in international markets, including Europe, Australia, the Middle East, and the Americas. The company is also working on rolling out ‘instant’ finger-prick blood tests that will give results on the phone by just clicking a picture.
Nikunj Malpani, CEO and Co-founder, emphasized, “India is often referred to as the chronic disease capital of the world, and this is largely due to lack of timely diagnosis. By enabling in-clinic testing Neodocs is empowering doctors to screen and diagnose patients instantly and start treatment immediately.”
Aditya Misra, Director, Omidyar Network India added, “Healthcare today remains reactive and episodic. Affordable & real-time diagnostics will be critical to accelerate transition to preventive / proactive care. We believe Neodocs’ pioneering solution can significantly expand access across income segments and geographies, enrich patient health records and reduce cost of care to improve health outcomes.”
Founded by Nikunj Malpani, Anurag Meena and Pratik Lodha, Neodocs initially introduced two urine-based tests that leave no dependency on lab machines: The Kidney Care Kit and the UTI Care Kit. Neodocs has sold over 200,000 testcards till now and is being used by 4000+ doctors across India.
