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2070 Health, a healthcare venture studio, has raised $30 million in a seed funding round from W Health Ventures.
The company aims to create a unique platform that will build healthcare companies from scratch to make high-quality healthcare more accessible and affordable in the country.
2070 Health said it is creating a venture creation platform that combines validated and de-risked venture ideas, experienced and driven founders, and a cross-functional team. Moreover, it will work as a platform to help founders test, launch, and iterate on their ideas, giving them a greater chance of success than if they were trying to do this on their own, the company said in a statement.
Also read: Elderly-focused app GenWise raises $3.5 million in seed round
The studio has launched three companies in the past nine months: ElevateNow, Nivaan Care, and Reveal HealthTech. The funds from this capital raise will be used for building the platform and seeding newly launched companies.
New wave
“The healthcare industry is slow to change, relationship-driven, highly regulated, and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard. We aim to impact the future of healthcare for one billion Indians over the next decade through the companies launched through our platform,” said Sunil Wadhwani, serial technology entrepreneur and President of W Health Ventures. “
Digital adoption and the change in consumer mindset due to Covid-19 have ushered in the possibilities of newer models of healthcare. Over the past few years, several companies have digitised traditional healthcare workflows at scale, leading to platforms facilitating doctor bookings, tele-visits, e-pharmacy, e-diagnostics, and surgery navigation.
Also read: Maharashtra’s Sahyadri Hospitals to expand to more cities
“The next wave of innovation will be different. It will build from this starting point and address the large white spaces that still exist from a clinical standpoint. We are confident that what we are building will attract the best talent, partners, and capital, and together with them, we will transform the way healthcare is delivered in the country,” said Pankaj Jethwani, CEO of 2070 Health.
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