Bangalore based diabetes care startup OneCare has raised $1 million funding in a pre-Seed investment round led by Multiply Ventures and Better Capital.
The startup plans to utilize the fund for product development along with clinic partnerships, and to strengthen its workforce across teams like Tech, Clinical Solutions, Marketing and Operations.
The funding saw an additional participation from a host of Angel investors entailing Kunah Shah (Founder, Cred), Shashank ND (Cofounder, Practo), Saikiran Krishnamurthy (Founder, xto10x), Ankit Bhati (Cofounder, Ola), Zishaan Hayath (Founder, Toppr), Farooq Adam (Cofounder, Fynd), Anand Shah (Cofounder, Ola Electric), Shariq Plasticwala (Ex-Amazon Pay Head, and Founder, Kafka Academy), Gaurang Jhunjhunuwala (Partner, McKinsey), Nikhil Bhandarkar (Founder Panthera Peak Ventures), Dinesh Advani (Cofounder, Playshifu), Aditya Kulkarni (Cofounder, Stoa School), Jonathan Chan (Chief of Staff, Freetrade) and Amit Ghorawat (CoFounder, Bicycle.Ai).
Bangalore-based healthcare startup
Founded by Dr. Rakesh Shivran and Sagar Bhat in 2021, the Bangalore-based healthcare startup is building an asset light, full-stack chronic care model. OneCare leverages AI & IOT technology, behavior science and clinical science to reimagine clinics that provide 10x better outcomes to patients with chronic diseases like diabetes.
The startup transforms an existing diabetes clinic into a technology-enabled, protocols-driven, smart clinic that provides comprehensive clinical, lifestyle and behavioral interventions to patients, instead of just focusing on giving medicines.
The founding team comes with more than 10 years of executive experience each in leading large scale health-tech and consumer internet businesses in India. Dr. Rakesh was earlier heading products at health-tech firm Practo and had built the newly launched Practo Care Surgeries business. Sagar had led multiple businesses and operations at Ola including Ola Play. In his latest stint, Sagar was heading operations for Ola Electric.
Dr. Rakesh Shivran, Co-Founder and CEO at OneCare states, “Indian healthcare system, designed for acute conditions and infectious diseases, fails to provide much needed comprehensive care suiting the needs of chronic disease patients. With an aim to address this massive gap in care delivery, we have created OneCare, an end to end - 3600 Diabetes care model, which helps patients achieve lower blood sugar, while reducing the need for medications, including insulin. With this investment, we will strengthen our workforce across teams like Tech, Clinical Solutions, Marketing and Operations, and further enhance our product to provide tailor made clinically proven diabetes programs to our patients at all OneCare clinics.”
India is set to become the chronic disease capital of the world with almost 400-500 Mn people projected to have at least 1 chronic condition with Diabetes and Pre-diabetes alone having over 160 million patients. The Indian chronic care market is > $50 Bn with high prevalence of chronic diseases and increasing incidence rate.
Omni channel approach towards diabetes management
Raveen Sastry, Partner, Multiply Ventures, said, “Chronic disease management as a whole and diabetes management in particular leaves a lot to be desired. OneCare looks to solve this through a unique omni channel approach that can have 10x better results than any solution available in india.”
Vaibhav Domkundwar of Better Capital, an early backer of breakout companies like Teachmint, Rupeek, Khatabook and Open, said, “We are reimagining chronic care by bringing the world’s best technology and research wrapped in a modern experience to help patients manage their diabetes & other chronic conditions 10X better. By partnering with clinics in your neighborhood in an asset-light model, OneCare will be a walk away for millions of patients in India to get the best care package.”
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