INDIA – Bengaluru-based startup Dozee has closed a US$6 million Series A2 funding round to scale its telehealth delivery system for healthcare providers across India and worldwide.
Dozee is India’s first contactless Remote Patient Monitoring (RPM) and AI-based Early Warning System (EWS) for continuous patient monitoring.
In a press release, Mr. Mudit Dandwate, CEO & Co-Founder of Dozee, said: “The current Series A2 fund-raise is a part of the company’s plan to further its reach to every nook and corner of the country and to begin the era of ‘Made in India’ products in the global market.”
The AI-powered healthtech startup has secured fresh funds from its existing investor base consisting of Prime Venture Partners, 3one4 Capital, and YourNest VC.
New investors including State Bank of India, J&A Partners Family office, and Dinesh Mody Ventures, also joined Dozee’s backers in investing in the company’s next phase of development.
Picking up a capital injection of US$6 million, Dozee intends to enhance the connectivity of its contactless remote patient monitoring and AI-based early warning system.
This new capital injection will be used to tap over 2,000 hospitals in more than 100 districts in the next two years to meet the specific needs of critical care facilities in India.
“Dozee’s innovative technology aims to bridge the healthcare gaps in India and developing countries through its AI-driven assets,” stated Mr. Mudit Dandwate.
The AI startup plans to expand its healthcare technology biz in the Indian market and invest more in its differentiated research and development (R&D) capabilities as it eyes global expansion.
Dozee has established a presence in over 380 hospitals covering more than 50 districts in different geographical regions of India, a step forward in its mission to make quality healthcare accessible to all.
This comes as Dozee’s flagship Remote Patient Monitoring product – Dozee Contactless Vital Signs (VS) Measurement system – is already operating in the United States.
Earlier this year, Dozee signed an agreement with British International Investment (BII) to transform the public healthcare landscape.
Through its initiative MillionICU, Dozee will collaborate with the United Kingdom’s development finance institution (DFI) to upgrade 6,000 hospital beds in approximately 140 public hospitals across India and beyond.
“Our growth momentum demonstrates accelerating progress toward our goal of making ‘HarBedDozeeBed’ the future of Indian healthcare infrastructure,” noted Mr. Dandwate.
The MillionICU initiative was established by Dozee in 2021 to install one million step-down intensive care unit (ICU) beds across India.
In 2022, Belle Vue Clinic became the first hospital to introduce Dozee’sNcBP (World’s first non-contact Blood Pressure) technology in the Indian region.
Similarly, Chennai-based Vijaya Hospital has adopted Dozee’s AI-based Remote Patient Monitoring& Early Warning System to enhance patient safety.
This comes as India’s public and private sectors design, develop, and market AI-powered tools to improve the delivery of health services, saving millions of lives.
The Apollo Clinical Intelligence Engine uses advanced AI and machine learning (ML) to analyse multiple sources of data to help healthcare professionals in identifying patterns that may be missed otherwise.
For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.
