IIT Bombay supported startup Neodocs which focuses on on developing smartphone-based diagnostic kits, has raised Rs 16.6 crore in funding. The fundraising was led by Omidyar Network India, an investment firm with a focus on creating social impact.
The investment round also included contributions from YCombinator, 9Unicorns, Gemba Capital, Titan Capital, and various individual investors including Prashant Tandon and Gaurav Agarwal of 1Mg, Rohit MA of Cloudnine, Kunal Shah of Cred, Varun Alagh of Mamaearth, Viren Shetty of Narayana Healthcare, Harshad Reddy of Apollo Hospitals, and Vivek Gambhir of Boat.
The company said that it plans to use the funds to extend its market reach globally, targeting regions such as Europe, Australia, the Middle East, and the Americas. Additionally, Neodocs is developing instant finger-prick blood tests that provide results via smartphone photos.
Founded by Nikunj Malpani, Anurag Meena, and Pratik Lodha, Neodocs initially launched two urine-based diagnostic kits, the Kidney Care Kit and the UTI Care Kit, designed to operate without the need for lab machinery. To date, the company has sold over 200,000 test cards and is utilized by more than 4,000 doctors across India.
The Kidney Care Kit measures the urine albumin creatinine ratio (UACR) among 14 other parameters, while the UTI Care Kit screens for urinary tract infections by tracking 10 parameters.
These innovations are part of Neodocs' efforts to address the underdiagnosis of chronic kidney disease (CKD) and urinary tract infections (UTIs), providing rapid diagnostics that can be used anywhere, said the company.
Nikunj Malpani, CEO and Co-founder, said, “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.”
Neodocs said it is also collaborating with leading pharmaceutical companies and government bodies in Maharashtra and Rajasthan to implement digital testing in remote areas, demonstrating significant impact across primary health centers and sub-centers.
Aditya Misra, Director, Omidyar Network India said, “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.”