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Jaipur-based NeuroEquilibrium Diagnostics Systems Pvt Ltd, a super-speciality healthcare chain of vertigo and balance disorders, has raised $2,50,000 seed round funding from Unicorn India Ventures, a Mumbai-based VC with about Rs 100 crore fund. The chain is looking at raising another $2 million in Series A soon.
NeuroEquilibrium caters to the gap that exists between the huge number of vertigo, dizziness and balance disorder patients and the lack of targeted treatment in India. According to reports about 20-40% of the population is affected by dizziness at some time in their life, and with 5% suffering from vertigo in any given year, approximately 60 million Indians are affected by this condition. The plan is to transform this domain in the healthcare sector through disruptive cognitive computing, machine learning, high speed imaging tech through cloud technology, the company said in a statement.
Rajneesh Bhandari, Founder, NeuroEquilibrium, says, “The mission of to treat 1 million patients by 2021 and 5 million in the next 10 years through our indigenously developed world-class diagnostic equipment and the 125 specialized vertigo and balance clinics we are setting up across India and beyond.We have also received interest from overseas, including from Bangladesh, Nepal, Africa, and CIS countries."
Launched in April 2016, NeuroEquilibrium has installed the state-of-the-art diagnostic equipment in 10 hospitals, including in Cyprus and the prestigious Sir Ganga Ram Hospital in New Delhi. It has also applied for three patents for the breakthrough equipment designed and manufactured by it.
Anil Joshi, Managing Partner and founder of Unicorn India Ventures, the Mumbai-based seed fund, said, “NeuroEquilibrium is solving a unique problem by combining many advancements in tech space for Vertigo and Balance disorder. NeuroEquilibrium has already made ten installations in India and one in Cyprus. The installations by NeuroEquilibrium are helping the clinics in diagnosing Vertigo and Balance Disorders on a daily basis. We expect them to continue to remain at the vanguard of health technologies in the coming years and keep bringing innovations in this space.”
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