Cancer Care Start-Up Oncare Secures USD 1 Mn In Seed Funding

ENA Sectors 2024-10-04 15:06:51 New Delhi, Oct 4 (KNN) In a significant development for India's healthcare sector, cancer care start-up Oncare has secured USD 1 million in seed funding. The investment round, announced on Thursday, was spearheaded by Huddle Ventures, with additional participation from TRTL Ventures, Cloud Capital, and DeVC. Oncare, established in 2023 by co-founders Deepak Kumar and Amar Sneh, is on a mission to transform cancer care in India. The company's innovative approach involves partnering with mid-sized hospitals, typically those with 50-100 beds, to create dedicated oncology wings. This strategy aims to reduce cancer treatment costs by up to 40 per cent, offering a more affordable alternative to the often prohibitively expensive treatments available in corporate hospitals, which can exceed Rs 10 lakh. The start-up plans to utilise the newly acquired funds to expand its presence across India. Kumar, one of the co-founders, outlined the company's ambitious goal of launching 10 new centres in Delhi-NCR, Bangalore, and Jaipur within the next two years. The funding will also support team expansion and increased marketing efforts to raise awareness about Oncare's mission. Oncare's emergence comes at a critical time for India's healthcare landscape. According to the annual Health of Nation report by Apollo Hospitals, cancer cases in India are projected to increase from 1.39 million in 2020 to 1.57 million by 2025. The country faces significant challenges in cancer care, including high treatment costs, limited availability of oncology centres, and a shortage of specialised professionals. Sanil Sachar, Founding Partner, Huddle Ventures, emphasised the importance of accessible healthcare and expressed enthusiasm for Oncare's potential to become a leading oncology provider in India. The start-ups model aims to address the gap in consistent and accessible cancer care across various economic strata. Oncare has already made strides in its mission, having operated in South Delhi for the past 10 months. During this time, the company has provided guidance on treatment plans to over 2,500 patients and completed more than 500 treatment sessions. The start-up recently expanded its operations to Ghaziabad on October 1 and is set to launch its first centre in West Delhi on November 1. As Oncare continues to grow, its founders remain committed to their goal of building a network of centres that offer compassionate, high-quality, and cost-effective cancer care. This approach has the potential to significantly transform the delivery of cancer treatment in India, making it more accessible to millions of underserved patients. (KNN Bureau) 39489 https://knnindia.co.in/news/newsdetails/sectors/cancer-care-start-up-oncare-secures-usd-1-mn-in-seed-funding 2024-10-04 15:06:51 knnindia.co.in Cancer Care Start-Up Oncare Secures USD 1 Mn In Seed Funding