Total amount raised
$2.4 Million
Latest funding date
02/01/2024
Location
Neodocs has successfully raised funding over five rounds, with the latest being a Seed round involving 15 investors, including Omidyar Network India as a lead investor. The platform offers instant lab tests that users can complete with their smartphone, making healthcare more accessible and convenient.
Keep reading to explore the intricacies of Neodocs' fundraising journey and the investors backing this innovative platform.
What Is Neodocs?
Neodocs is a private company based in Mumbai, Maharashtra, India, specializing in instant lab tests that users can complete with their smartphone. The company operates in the health care, personal health, software, and wellness industries.
With an employee count ranging from 11 to 50, Neodocs offers a variety of at-home diagnostic testing solutions, including hemoglobin testing, urine ACR tests, sperm count tests, home insemination kits, and ovulation tests. The company aims to make healthcare more accessible and convenient through its innovative products.
How Much Funding Has Neodocs Raised?
- Funding Round: Pre-Seed
- Amount Raised: USD 300,000
- Date: December 2020
- Lead Investors: 100Unicorns
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and product enhancement.
- Funding Round: Pre-Seed
- Amount Raised: USD 125,000
- Date: August 2021
- Lead Investors: 100Unicorns
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand market reach.
- Funding Round: Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Google for Startups
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources from Google for Startups.
- Funding Round: Seed
- Amount Raised: USD 2,000,000
- Date: February 2024
- Lead Investors: Omidyar Network India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into international markets and develop new products.
Total Amount Raised: USD 2,425,000. Current Valuation: Not publicly disclosed.
Key Investors
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm that supports innovative organizations aiming to create social change. They led the $2 million seed funding round for Neodocs.
- Investment Focus Areas: Social impact, technology, innovation
- Notable Investments: Sportvot, Revfin
- Y Combinator
- Details: Y Combinator is a well-known startup accelerator that provides seed funding, advice, and connections to early-stage startups. They participated in the seed funding round for Neodocs.
- Investment Focus Areas: Technology startups, innovative business models
- Notable Investments: Airbnb, Dropbox, Reddit
- 9Unicorns
- Details: 9Unicorns is an accelerator fund that invests in early-stage startups. They participated in the seed funding round for Neodocs.
- Investment Focus Areas: Early-stage startups, disruptive technologies
- Notable Investments: Various early-stage startups
- Gemba Capital
- Details: Gemba Capital is a venture capital firm focusing on early-stage investments. They participated in the seed funding round for Neodocs.
- Investment Focus Areas: Early-stage technology startups, technology-driven solutions
- Notable Investments: Various early-stage technology startups
- Titan Capital
- Details: Titan Capital is a venture capital firm that invests in early-stage startups. They participated in the seed funding round for Neodocs.
- Investment Focus Areas: Early-stage startups across various sectors
- Notable Investments: Various early-stage technology startups
What's Next for Neodocs?
Neodocs is poised for significant growth as it expands into international markets such as Europe, Australia, the Middle East, and the Americas. The company plans to introduce new products, including instant finger-prick blood tests, which could open up new revenue streams and market segments. Collaborations with pharmaceutical companies and government bodies will further enhance their market presence and credibility.
Future fundraising opportunities are likely as Neodocs continues to innovate and expand. The company may seek additional funding rounds to support its growth and product development. Strategic investments from pharmaceutical companies and healthcare providers could also be on the horizon.
However, Neodocs may face challenges such as navigating regulatory environments in different countries and competing with established players in the digital health market. Ensuring the accuracy and reliability of their smartphone-based diagnostic solutions will be crucial for maintaining trust among users and healthcare professionals.
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