Healthtech Startup Dozee raises INR 44 crore led by Prime Venture Partners & Others
The capital will be used by the startup to expand its R&D and launch new products, among other things. To date, the six-year-old startup has raised a total of Rs 63 crore from investors.
Mudit Dandwate and Gaurav Parchani founded Dozee in 2015 to track heart health, respiration, sleep quality, and stress levels. Dozee's AI-based 'Advanced Health Intelligence' module detects early signs of health deterioration by continuously assessing user vitals data and conducting a risk analysis.
It currently provides RPM solutions to over 216 hospitals in India and has seen an increase in business in the last six months. It has installed its platform in over 5,000 hospital beds to continuously monitor patients.
“We plan to partner over 1000 hospitals across India in the next 12 months,” Dandwate said.
The company intends to install its platform in over 50,000 step-down intensive care units (ICUs) and establish 24x7 central monitoring cells in these hospitals, allowing them to quickly augment critical high dependency units and ICUs.
The Covid-19 pandemic has highlighted both challenges and opportunities in the healthcare industry. According to experts and doctors, India will require an additional 500,000 intensive care units (ICUs), 200,000 nurses, and 150,000 doctors in the coming year.
“The Indian healthcare sector has seen a rapid transformation in the last year with hospitals, healthcare workers and patients embracing technology to access better care,” said Sanjay Swamy, managing partner at Prime Venture Partners.
“We see a huge potential for Dozee in bringing about a shift in the healthcare sector by enabling hospitals to provide affordable critical care infrastructure and upgrade rapidly without huge capital investments.”
“Cloud and intelligence-enabled technology will fundamentally transform healthcare delivery in India. The Dozee team has developed ground-up innovation to make hospital-grade vitals monitoring contactless and affordable, radically reimagining the matrix of care delivery across segments,” said Pranav Pai, managing partner at 3one4 Capital.