Prantae Solutions, a deep-tech company based in Bhubaneswar, has successfully raised Rs 5 crore in a seed funding round led by the IAN Group. The funding round saw participation from notable investors, including IAN Alpha Fund, Samir Kalia, Deepank Kumar, and Nitin Zamre.
The company plans to utilize these funds to introduce complementary diagnostic solutions for kidney health and diabetes care, further enhance its product portfolio, and ramp up research and development efforts.
Founded in 2015 by Sumona Karjee Mishra and Aseem Mishra, Prantae Solutions focuses on deep-tech innovations, emphasizing strong intellectual property and the development of differentiated healthcare products. The company’s mission is to revolutionize healthcare with next-generation diagnostic solutions that are inclusive and empowering.
Prantae is committed to breaking barriers in medical accessibility by developing cutting-edge point-of-care solutions that provide accurate, timely, and actionable health insights. Its solutions are particularly aimed at early detection and proactive management of chronic diseases.
The point-of-care diagnostics market in India, valued at $1.41 billion in FY2024, is projected to grow at a CAGR of 8.47%, reaching $2.71 billion by FY2032. Globally, the market is set to expand from $30.87 billion in 2023 to $51.19 billion by 2032.
Prantae’s flagship product, Proflo-U, empowers kidney health assessment with a globally unmatched detection range for microalbumin and proteinuria levels. Powered by proprietary nanosensors, IoT, and AI technology, Proflo-U offers calibration-free, cost-effective, and user-friendly testing solutions that aim to enhance patient outcomes while reducing healthcare costs.
Prantae Solutions is focused on building a strong domestic presence before expanding into international markets. With its focus on creating highly differentiated point-of-care products, Prantae aspires to transform healthcare diagnostics, making them more accessible to millions around the world.
Vishal Gawai
Verified JournalistVishal Gawai is the founder of TheIndiaBizz, a media and information platform in India that offers in-depth coverage of the country's startup ecosystem.
