Bangalore based healthcare startup DCode Care has announced that it has raised an undisclosed amount in a series seed round from Inflection Point Ventures and PointOne Capital.
The infusion of capital comes six months after the firm raised Pre-Seed financing from an early-stage venture firm 100X.VC and a clutch of angel investors.
Founded in 2019 by Preeti Veenam and Preeti Veenam, DCode Care helps critical illness patients discover the right treatment and healthcare providers basis their condition and budget.
“The funds raised will be utilized for marketing and business development, expansion to cities beyond Bangalore, and product development to deliver a personalized tech-driven experience for patients,” the statement said.
Speaking on the investment, Ankur Mittal, Co-Founder, Inflection Point Ventures said, “Diseases like Cancer are scary. Any survivor would tell you that. But not just emotionally and physically, on the treatment side, this can be a huge drain on a patient’s financial resources. We support them as they look to expand their reach across other critical illnesses.”
“Half the battle is won when you have found the right doctor and the right treatment at the right budget for serious diseases. We believe that DCode Care’s platform has been thoughtfully designed to empower patients with the right information and guidance. The business model has a positive social cause with strong business metrics underneath,” Mittal added.
Commenting on the funding in DCode Care, Raghavendra Prasad, Venture Partner at PointOne Capital said, “Having my own family member suffer from cancer, I understand the importance of getting the right counseling on options for treatment, hospitals, and care for patients. DCode Care is using the right blend of technology and expert guidance to provide cancer patients and their caregivers the right options and guide them towards the best possible outcomes.”
“We are on a mission to empower patients with expert guidance on correct treatment at the right prices. We are pleased to partner with IPV in our vision to create an impact in the space of critical illness management. IPV has opened its wide network of portfolio companies and investor mentors for us. We look forward to leveraging the knowledge pool within the IPV system to grow,” Preeti Veenam, Founder of DCode Care further added.
Adding to the statement, Ninad Karpe, Partner, 100X.VC said, “DCode Care fulfills a huge gap in the critical illness journey of a patient. As the first institutional investor, 100X was impressed by the vision of DCode Care as India’s first data-driven healthcare discovery platform for critical illness. We firmly believe that the DCode Care has built a good platform which meets a huge societal need and also lends itself to a scalable business model.”