Renal Project raises 2nd spherical of funding from angel investors
MUMBAI: The Renal Project, a Mumbai-based chain of dialysis micro-centers, has raised Rs2.2 crore ($300k) from a seize of worldwide angel investors, it is 2d funding inside a year, indicating an extended center of attention on healthcare carrier core by using project capitalists. It raised its first seed fund from early-stage mission capital association 100X.VC in December 2019.
Incubated with the aid of the Niti Aayog’s Atal Innovation Mission, the Renal Project used to be began to tackle the hastily developing disaster of unavailability of lower priced dialysis in the usa . that claims hundreds of thousands of lives each year.
Each micro-center is a three-bed facility with a ability to deal with round 25 patients.
The organisation stated cash will assist the organisation extend in western India, with over a hundred dialysis centres in the subsequent three years.
” India wants a mannequin that can penetrate into the outskirts, the suburbs, peripheries and neighbourhoods of tier 1, two and three cities making dialysis proximity available,” stated Shashank Moddhia, who situated the Renal Project in 2019 and now has over 10 centres.
throughout Mumbai Metropolitan Region, Shirdi and outskirts of Pune. “The thinking is to have over a thousand centres throughout Tier two and three cities in the united states over the subsequent decade.”
The want and demand for speciality dialysis centres has risen amidst COVID-19 disaster as sufferers with renal (kidney) troubles are especially inclined to contamination and unstable to go to crowded hospitals.
As per healthcare enterprise data, solely 35% of kidney sufferers control to avail sufficient dialysis remedy in India, ensuing in greater than 2.5 lakh estimated deaths every year.
The Renal Project is filling an vital and critical hole in the Indian healthcare system. With its special mannequin and ambition of placing up micro-centres for dialysis throughout India, it will cater to an unmet demand no longer simply in cities however additionally in small towns,” Ninad Karpe, Partner, 100X.VC said.