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MOC Cancer Care raises $18 Mn led by Elevation Capital

EntrackrEntrackr · 4m ago
MOC Cancer Care raises $18 Mn led by Elevation Capital
Medial

MOC Cancer Care raises $18 Mn led by Elevation Capital MOC Cancer Care & Research Centre, a network of community cancer centres, has raised $18 million in funding led by Elevation Capital. Previously, MOC raised $10 million from Tata Capital Healthcare Fund in January 2023 to expand its operations and technological capabilities. The proceeds will be used to expand operations, open new centres, and diversify the range of services offered, said the Mumbai-based company. It operates in the daycare oncology space, focusing primarily on chemotherapy and the medical management of cancer. Founded in 2018 by oncologists Dr Ashish Joshi, Dr Kshitij Joshi, Dr Pritam Kalaskar and Dr Vashishth Maniar, MOC is a concept turned enterprise and a chain of community cancer centres that work to simplify the journey for cancer patients by building an ecosystem that embodies crucial aspects like proximity and affordability. Over the past seven years, MOC claims to have treated over 4.5 lakh cancer patients with a highly qualified team of 47 oncologists while scaling operations to 24 centres in Mumbai, Pune, Rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh. In May 2024, the company expanded its services by joining hands with Hemato Oncology Clinic (HOC), which was the second-largest independent chain of community cancer care centres in India. This merger has allowed the company to expand its operations in the state of Gujarat. MOC will soon expand its operations in Delhi NCR and other parts of India and develop a molecular oncology lab. Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, left the venture capital firm after 14 years to focus on advisory and mentorship.

Oncare bags $1 Mn in seed round led by Huddle Ventures

EntrackrEntrackr · 9m ago
Oncare bags $1 Mn in seed round led by Huddle Ventures
Medial

Oncare, a cancer care startup, has raised $1 million in its seed round led by Huddle Ventures. The round also saw participation from marquee institutional VCs such as TRTL Ventures, Cloud Capital, and DeVC. The proceeds will be used to expand its operations to 10 new centres across Delhi NCR, Bangalore, and Jaipur over the next two years. The funds will also be channelled towards team expansion and marketing efforts to raise awareness about the brand’s affordable cancer care solutions. Founded in 2023 by Deepak Kumar and Amar Sneh, Oncare is partnering with 50-100 bedded hospitals to create dedicated oncology wings. Through these partnerships, Oncare is reducing treatment costs by up to 40%. The brand claims to offer an affordable yet high-quality alternative to the expensive cancer treatment—often exceeding Rs 10 lakh in corporate hospitals. It also offers on-call nursing support to help patients manage side effects and anxiety associated with cancer therapies, without having to make unnecessary hospital visits. The startup is operational in South Delhi for the past 10 months and it has provided over 2,500 patients with guidance on treatment plans and claims to have completed over 500 treatment sessions. According to the annual Health of Nation report by Apollo Hospitals, the cancer burden in India is staggering, with yearly cases expected to rise from 1.39 million in 2020 to 1.57 million by 2025. However, high treatment costs, limited availability of oncology centres, and a shortage of specialised professionals are making cancer care inaccessible to millions.

OneCell Diagnostics raises $16 million in round led by Celesta Capital, others

Economic TimesEconomic Times · 7m ago
OneCell Diagnostics raises $16 million in round led by Celesta Capital, others
Medial

OneCell Diagnostics, a startup specializing in AI-powered cancer diagnostics, has raised $16 million in a series A funding round. The funding was led by Celesta Capital and included participation from Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures. OneCell plans to use the funds to expand to the US market with its liquid biopsy test, OncoIndx Alfa, which detects circulating tumor cells for precision diagnosis and treatment of cancer. The funding will also help the company democratize precision oncology by making cancer diagnostic testing more accessible and affordable. OneCell has already tested its technology in India and has partnerships with leading medical institutions.

ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business

VCCircleVCCircle · 1y ago
ChrysCap-backed Eris Life acquires Biocon Biologics' India formulations business
Medial

Mumbai-based pharmaceutical company Eris Lifesciences, backed by private equity firm ChrysCapital, is set to acquire Biocon Biologics' India branded formulation business for $150 million. The deal, including insulin brands Basalog and Insugen, is expected to be finalized by 15 April, 2024. Eris aims to strengthen its diabetes care franchise and expand into the oncology and critical care sectors. The acquisition also includes a 10-year supply agreement with Biocon Biologics. This move follows Eris's previous acquisitions in the neuropsychiatry and dermatology sectors. Eris Lifesciences operates with a domestic-branded formulations business model and has a distribution network of over 2,000 stockists and 500,000 chemists.

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