BackDozee raises $6 million in Series A funding
Dozee provides remote health monitoring solutions and devices that track heart health, respiration, sleep quality and stress levels. Its AI-based health intelligence module assesses user’s vitals data and conducts risk analysis
PremiumBENGALURU: Health-tech startup Dozee, which offers contactless remote monitoring solutions, on Thursday said it has raised $6 million (or roughly ₹44 crore) as part of its Series A funding, led by existing investor Prime Venture Partners.
YourNest Venture Capital and 3one4 Capital also participated in the round.
The fresh capital will be used to develop and launch new products and enhance the platform's capabilities. It will also use the funds to increase its presence in high dependency ward units and across home monitoring use-case.
With the latest round, the startup has raised over Rs63 crore in investments till date.
The six-year-old startup provides remote health monitoring solutions and devices that track heart health, respiration, sleep quality and stress levels. Its artificial intelligence (AI)-based health intelligence module detects early signs of health deterioration by continuously assessing user’s vitals data and conducting a risk analysis.
“This funding is a testament to our commitment to improve health care infrastructure in India. During the peak of the pandemic, we worked with top institutions in the country, both in public and private settings, to automate critical care delivery in high dependency units, saving over 70,000 nursing hours and more than 1,000 lives," said Mudit Dandwate, co-founder and chief executive officer (CEO), Dozee.
The startup has witnessed over 216 hospitals pan-India adopting its solution in the last 6 months. It has also deployed its platform in over 5,000 beds in hospitals and monitored more than 32,000 patients, till date.
“Through the past year, Dozee has been proven to save hundreds of lives and the data science team is able to launch new capabilities at breathtaking speed. Mudit and Gaurav are amazing founders and are building a truly world class team swiftly. We are delighted to partner with 3one4 and Yournest to continue to help take this company to the next stage," said Sanjay Swamy, managing partner, Prime Venture Partners.
With this fund raise, Dozee aims to partner with over 1,000 hospitals across India to help them upgrade critical care infrastructure through remote patient monitoring.
It also plans to install its platform in more than 50,000 step-down ICUs and set-up 24x7 central monitoring cells in these hospitals. Dozee’s 24x7 central monitoring cell in hospitals enables healthcare staff to monitor multiple patients remotely who were previously monitored manually only every couple of hours.
“Cloud and intelligence-enabled technology will fundamentally transform healthcare delivery in India. The Dozee team has developed grounds-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, 3one4 Capital.
At present, Dozee has over 150 employees across Bengaluru, Hyderabad, Mumbai and Kolkata.
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