DCDC Health Services Pvt Ltd, which operates dialysis clinics in India through public private partnerships, has secured Rs 82 crore, or nearly $10 million, in debt capital from the UK government's British International Investment (BII).
Funds raised from the BII will be used to grow DCDC’s network of clinics and roll out over 900 dialysis machines in over 100 centres in the next three years.
The company will continue its expansion in South India, particularly in Karnataka and Telangana, said Aseem Garg, founder and CEO of DCDC.
“Our debt facility will enable DCDC to expand its network of centres in partnership with the government, which provide life-saving treatment to low-income people in remote towns,” BII said in a statement today.
Apart from dialysis services, DCDC Health Services also offers nephrology consultations, haemodialysis, daycare surgeries and urological procedures.
This funding transaction between DCDC Health Services and BII was inked in December 2023. However, the announcement has been made by the company post disbursements, BII told VCCircle in a written reply to a mail.
DCDC started in 2014 with a Series A funding of $4.44 million (Rs 27 crore then) from Pragati India Fund managed by Pragati Equity Advisors Pvt. Ltd.
In 2018, the health services firm raised another $2.78 million (Rs 228.3 million) as part of its Series B funding round from the Asian Development Bank (ADB).
In 2020, DCDC Health Services followed it with $6.79 million (Rs 500 million) in a Series C funding round from Danish SDG Investment Fund and Asian Development Bank, with Pragati India Fund exiting its 22% stake.
In 2023, BII committed about $130 million to Indian companies. The DFI has so far invested in over 1,580 companies across 65 countries and manages total net assets of £8.5 billion. Between 2022 and 2026, BII has committed to invest at least 30% of its new commitments in climate finance.
