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Med-tech startup Crimson Healthcare secures Rs 1.75 crore from Mumbai Angels

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Delhi based med-tech startup Crimson Healthcare has raised Rs 1.75 crore from Mumbai Angels Network.

Founded in 2015 by alumni of Stanford Idea Biodesign, Pranav Chopra and Neeraj Kumar, Crimson Healthcare aims to improve the lives of ostomates globally who defecate in a bag hanging from their abdomen. The company has developed an ostomy management device, SphinX a soft and pliable insertable ort and provides a safe, secure, and discreet solution o stoma management while restoring continence to the patient.

Speaking After funding, Pranav Chopra, co-founder of Crimson Healthcare said, “Mumbai Angels Network has been very supportive through the whole process of raising funds. With these funds, we plan to bring about significant changes by expanding our research and taking our product to the market and into the hands of our patients.”

In a statement issued, MA Investor, Ridham Gada, said, “Crimson looks promising to help humans with the medical device they have manufactured. It will help many people going through Colonial Cancer operation and live a normal life again,” Ridham Gada, Mumbai Angel Investor said.

Adding to the statement, Nandini Mansinghka, Co-promoter & CEO of Mumbai Angels Network said, “We’re delighted to have Crimson Healthcare in our expanding portfolio of healthcare and Lifesciences sector. We believe this innovation is going to bring change in the lives of ostomates.”

“We recently launched LifeSciences Vertical, a network within a network for various Pharma/Healthcare companies and start-ups’ from the LifeSciences sector on our Investment Platform,” Nandini added.

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