Remote health monitoring startup, Dozee has raised ₹12.5 crore in its new round of funding from Prime Venture Partners, YourNest Venture Capital and 3one4 Capital.
The company will be utilising the funds to expand into newer markets, enhance its product capabilities, complete FDA and other global certifications, as well as enhance user experience for both physicians and patients.
The five-year-old startup offers medical-grade contactless sensors, priced at ₹8,000 and ₹10,000 to patients, helping doctors and clinics track key vitals of the human body such as heart rate, respiration, oxygen saturation, and stress-recovery remotely.
The contactless sensor, placed under the mattress, captures real-time body vitals without using any external wires or touching the user’s body, through micro-vibrations produced by the body every time the heart pumps blood, during inhalation, exhalation.
“Healthcare is a basic necessity and everyone deserves quality care. Over the last 5 years led by intense R&D, our focus has been to hone Dozee as the most convenient, accurate, and cost-effective health monitor that can easily reach the masses. We are thrilled to get support from brilliant product thinkers and market experts in PrimeVP, YourNest and 3one4, in our growth journey to touch a billion lives,” said Mudit Dandwate, CEO & co-founder, Dozee.
With the sensors designed and manufactured in India, Dozee was developed after deep research conducted in partnership with hospitals, including NIMHANS and Sri Jayadeva Institute, in Bengaluru.
With this funding, the company is also looking to evolve the sensors to track chronic pulmonary disorders and alert the patient before a stroke.
“Dozee is an exceptional story on how a team has created a mountain of Intellectual Property through the toughest of times and is now proven, certified and ready for use. Continuous and touch-less vitals monitoring is an essential service- whether you are in the next room, a mile away or halfway across the world,” said Sanjay Swamy, managing partner, Prime Venture Partners, an early stage venture capital firm.
At present, Dozee is already being used by over 30 healthcare institutes, with 5000 active devices in the market.
During the ongoing covid-19 pandemic, over 1200 Dozee sensors have been deployed in over 20 quarantine centres across eight states in India. Dozee has so far monitored over 4000 covid-affected patients in institutional settings.
“Recent events have accelerated the need for realtime vitals sensing, home health care, and continuum care. Dozee has shown tremendous agility in this context to combine deep technology and healthcare expertise into a scalable and sustainable sensor and data platform in the form of their step down ICU system,” said Pranav Pai, managing partner, 3One4 Capital.
In the next one year, Dozee expects to have more than 100,000 active sensors in the market, across 500 wards, hospitals, clinics and homes in the country.
