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Venture firms-backed Perfint Healthcare, which manufactures interventional oncology medical equipment, is looking to raise $20 million in 24 months.
The product company, which started out in 2007, has already received two rounds of funding amounting to $11.7 million from IDG Ventures, Erasmic and Norwest Venture Partners.
In the next 24 months, Perfint is looking to raise $20 million in two-three tranches, which will be used for expanding product portfolio and footprint.
“While current investors will also invest, we are looking at medical device investors in the Western markets – especially North America – who can open new doors for us outside India,” says Mr Nandakumar S., CEO.
Perfint's ‘Piga' and ‘Robio' devices provide robotic assistance to plan and perform interventional tasks in cancer diagnosis with “precision” and “accuracy.” They are used by clinicians across South Asia, West Asia, Asia Pacific, and Europe. Perfint plans to enter Latin America soon, followed by North America next year.
Oncology diagnostic procedures (biopsy and drug delivery) are today predominantly performed manually. Unless clinicians are experienced, there is always an element of trial and error, says Mr K. Guruswamy, Director – New Products and New Markets.
Perfint's devices bring in ‘robotic targeting' to enhance the accuracy of these procedures during diagnosis of liver, lung, kidney and bone cancers. The company is working on devices for use in breast and prostate cancer treatment.
Perfinct has offices in Chennai, Delhi, Mumbai, Turkey and Thailand. It is setting up an advanced research centre in Boston.
The company hopes to clock $18 million revenues in 18 months.
swethak@thehindu.co.in
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