AI-driven healthtech startup, Dozee raises $8 Mn, setting the stage for global expansion. Founded in 2015 by Mudit Dandwate and Gaurav Parchani, the Bangalore-based startup is making waves with its AI-powered contactless remote patient monitoring (RPM) system.
Let’s learn more about Dozee and its fundraise!
What makes Dozee stand out?
Dozee’s technology is designed to make hospital care more efficient, easing the burden on nurses while ensuring continuous monitoring of patients. Here’s what sets it apart:
- Shravan initiative: A dedicated program for elderly care, ensuring effortless health monitoring for ageing parents.
- Continuous & contactless vitals monitoring: Seamless, real-time tracking of key health metrics.
- AI-powered early warning system: Detects health risks early, enabling timely intervention.
- Enhanced patient safety with Health AI: Smart technology designed to improve hospital efficiency and patient care.
Here’s our in-depth article about Dozee’s innovative technology 👉 https://allhealthtech.com/dozee/
Dozee’s latest funding boost
Last week, Dozee raised INR 71.5 Cr (around $8.3 Mn) in a fresh funding round, combining both equity and debt.
This round saw investments from Temasek Trust’s C3H and Stockhausen International, along with other undisclosed investors.
According to reports, C3H contributed INR 6.3 Cr as equity, while Stockhausen International provided INR 58.5 Cr in debt.
“As global healthcare systems face mounting pressures, technology-driven solutions like Dozee play a vital role in improving patient care.”
-Ryan Tan, Director, C3H, Temasek Trust.
How will Dozee use the funds?
The startup plans to channel the fresh investment into two main areas:
- Global expansion: Dozee aims to strengthen its footprint in international markets of the US, UAE, and Africa.
- Advance its AI technology: It will further improve its AI technology to enhance patient care and hospital efficiency.
A company spokesperson confirmed that these efforts will support their international growth and make their products even better for hospitals worldwide.
Dozee’s growth and financial performance
Dozee has been expanding beyond India, reaching markets in the US, UAE, and Africa. With plans to enter more countries and develop new products, the company is focused on long-term growth.
Financially, Dozee has been steadily scaling up. Here are the numbers reflecting its growth:
- It reduced its losses by 19% in FY24, bringing them down to INR 68 Cr from INR 84.4 Cr the previous year.
- Its revenue saw a major jump of 148%, growing from INR 2.1 Cr in FY23 to INR 5.2 Cr in FY24. Including other income, the company’s total revenue stood at INR 6.5 Cr.
- Dozee also cut its overall expenses by 15% to INR 74.5 Cr, with employee costs dropping by 12% to INR 47 Cr.
What’s next for Dozee?
With this latest funding round, Dozee has now raised nearly $20 Mn across multiple rounds and has been making a major impact in the healthcare industry.
With its AI-driven monitoring system, the startup claims to have:
- Reduced nursing time for vitals monitoring by 80%.
- Saved 144 lives annually through timely health alerts.
As Dozee continues to refine its AI-powered monitoring system and expand globally, it is setting new benchmarks for smarter, more efficient, and accessible healthcare. The future looks promising, with Dozee leading the way in transforming patient care.
-By Rinkle Dudhani and the AHT Team
