Mumbai Oncocare Centre (MOC) has raised $10 million from Tata Capital Healthcare Fund (TCHF), the healthcare-focused arm of private equity firm Tata Capital Ltd, in a Series A funding round.

As per the firm, the raised funds will be used to expand across India in the next 18 months.

Mumbai Oncocare Center | Oncology & Hematology Healthcare Services

Founded by Dr Ashish Joshi, Dr Vashishth Maniar, Dr Pritam Kalaskar, and Dr Kshitij Joshi in 2018, MOC offers Oncology & Hematology healthcare services.

The firm puts high emphasis on clinical research, technology, and tumour boards, where the collective wisdom of its oncologists ensures that the care given is always evidence-based. It is operational at 16 locations across 10 cities of Maharashtra and Madhya Pradesh. 

Speaking about the development, Manish Jobanputra, Chief Operating Officer of MOC, said, 

“It is our privilege to join hands with Tata Capital, which is part of the Tata Group, which has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally.”

As per the firm, every year, approximately 15 lakh people get diagnosed with cancer in India, and at any given time, there are additional 25-30 lakh cancer patients who are undergoing treatment. A large number of these patients need chemotherapy and immunotherapy, and the majority need to consult a medical oncologist during their treatment journey.

Mumbai Oncocare Centre addresses this unmet need with community daycare centres that are fully compliant hospitals where these patients can get personalised care. 

Commenting on the development, Vamesh Chovatia, Partner at Tata Capital Healthcare Fund, said, 

“The philosophy and mission of Mumbai Oncocare Centre to provide high quality care at affordable price points aligned with our objective of financing such scalable and profitable business models.”

There are several healthtech startups that are committed to positively impacting the healthcare community with innovation. Last year, many such healthtech startups raised funds. 

In December 2022, Chennai-based Blod.in raised an undisclosed amount in pre-seed funding and In-Med Prognostics $2.13 million led by investment firm Exxora, with participation from several angel investors. 

A few other heathtech startups that raised funds last year, include Kochi -based Evelabs Technologies, Odisha-based healthtech startup CureBay, Bengaluru-based connected healthtech platform Eka Care, Mumbai-based telehealth platform Truemeds, Gurugram-based Curelink, and Bengaluru-based Dozee.

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