Oncare secures $1 million in seed funding to provide affordable cancer care

Most cancers startup Oncare on Thursday introduced that it has raised $1 million in a seed funding spherical led by Huddle Ventures. The spherical additionally noticed the participation of enterprise capital corporations similar to TRTL Ventures, Cloud Capital and DeVC.

Based in 2023 by Deepak Kumar and Amar Sneh, Oncare goals to revolutionise India’s most cancers care panorama by partnering with 50-100-bed hospitals to create devoted oncology wings. By these partnerships, Oncare is lowering remedy prices by as much as 40%. The model’s intention is to supply an reasonably priced but high-quality various to costly most cancers remedy — which regularly exceeds Rs 10 lakh in company hospitals. By repurposing underutilised hospital area, Oncare ensures that sufferers obtain complete care whereas addressing some of the urgent challenges within the Indian healthcare system — entry to reasonably priced most cancers remedy.

Kumar stated the $1 million seed funding would primarily be used to increase Oncare’s footprint throughout India, with a purpose of opening 10 new centres in Delhi-NCR, Bangalore and Jaipur throughout the subsequent two years. “This may permit us to achieve extra sufferers and make most cancers care accessible to a wider viewers. The funding may also assist the growth of our staff — each medical and administrative — to make sure we preserve high-quality care as we scale up. Furthermore, we plan to extend our advertising efforts to lift consciousness about our mission to make most cancers remedy accessible and reasonably priced for underserved sufferers,” he stated.

Rising as a silent epidemic, the most cancers burden in India is staggering, with annual circumstances anticipated to rise from 1.39 million in 2020 to 1.57 million by 2025, in response to the annual Well being of Nation report by Apollo Hospitals. Nevertheless, excessive remedy prices, restricted availability of oncology centres, and a scarcity of specialized professionals are making most cancers care inaccessible to hundreds of thousands. Recognising these challenges, Oncare is stepping in with an modern mannequin that goals to bridge this hole by making specialised most cancers care each reasonably priced and accessible.

Sanil Sachar, Founding Associate of Huddle Ventures, stated, “High quality healthcare is a elementary proper, but it stays inaccessible to many throughout numerous financial strata. We see a major hole within the consistency and accessibility of most cancers care that each affected person deserves. By backing Oncare, our purpose is to make sure the supply of high-quality, reasonably priced oncology remedies throughout the nation. We’re excited to assist Oncare’s journey to develop into the main oncology supplier in India, pushed by their dedication to creating a tangible distinction in sufferers’ lives.”

Oncare has been operational in South Delhi for the previous 10 months, whereby it has offered over 2,500 sufferers with steerage on remedy plans and has efficiently accomplished over 500 remedy periods. On October 1, it expanded its footprint to Ghaziabad with the launch of its first centre within the metropolis. It’s also set to increase to West Delhi with its first centre within the area going stay on November 1.“Thus far, we’ve got offered remedy steerage to over 2,500 sufferers and efficiently accomplished over 500 remedy periods. This growth will permit us to make specialised most cancers care extra accessible and reasonably priced for hundreds of thousands of underserved sufferers. Our mission is to construct a community of centres that supply compassionate, high-quality, and cost-effective most cancers care, remodeling the best way most cancers remedy is delivered in India,” Kumar added.