Turtle Shell Technologies Pvt Ltd, which operates health-technology startup Dozee, has raised Rs 12.5 crore ($1.7 million) in funding from a group of venture capital firms.
Participating investors in this round include Prime Venture Partners, YourNest Venture Capital, and 3one4 Capital, Bengaluru-based Dozee said in a statement.
The company was set up in 2015 by Mudit Dandwate and Gaurav Parchani, and says its product is being used by hospitals and healthcare institutes as well as households.
The platform allows people to monitor the elderly as well as any chronic conditions.
Some features of Dozee include tracking vitals such as heart and respiration rates, as well as oxygen saturation and sleep stages.
It uses a contactless sensor to track these metrics along with an artificial intelligence-backed early warning system to convert signals into an analysis of a patient’s health.
The company will use this capital to expand its market outreach as well as enhance its product capabilities and underlying technology. It will also use the funds to complete US FDA (Food and Drug Administration) and other global certifications.
“Recent events have accelerated the need for real-time vitals sensing, home health care, and continuum care. Dozee has shown tremendous agility in this context to combine deep technology and healthcare expertise into a scalable and sustainable sensor and data platform in the form of their step-down ICU system,” 3one4 Capital managing partner Pranav Pai said.
Per his LinkedIn profile, Dandwate is an alumnus of the Indian Institute of Technology-Bombay and has worked with global technology firm Altair prior to setting up Dozee. Parchani is an IIT-Indore graduate who has worked at Altair.
Dozee says over 1,200 units of its product have been deployed across 20 quarantine centres in eight states following the nationwide lockdown caused by Covid-19. It claims to have monitored over 4,000 patients and saved more than 6,000 nursing hours in the process.
It is among several health-technology startups to have raised funding in recent months. Last week, diagnostics-focussed ConnectedH raised seed funding from a clutch of investors including First Cheque, Sprout Investments, and PointOne Capital.
In July, fitness-focussed Muse Wearables raised Rs 22 crore (around $2.93 million) from new and existing investors including KIMS Hospitals founder and managing director Bhaskar Rao Bollineni.
In June, Mumbai Angels Network committed Rs 1.75 crore (around $230,732) to Crimson Healthcare Pvt. Ltd, a health-tech startup focussed on ostomy care.