Healthtech startup Vantage Health has raised $50 million in its first fundraising round led by Cayman Islands-based fund IQGEN Holdings LLC. The Mumbai-based startup will deploy the capital to support the operations and technology development.
According to Vantage Health founder Aman Iqbal, the startup is on the mission to automate and standardise primary healthcare followed by secondary healthcare or hospitals.
The four-month-old startup collects and processes diagnostic samples using saliva and sometimes blood, to collect genetic, microbiome and epigenetic data from users on a regular basis.
The startup’s flagship product DocAI software does pattern analysis to advise users and rank them as “healthy, at-risk and high-risk” to prescribe medicines or supplements as well as fitness and wellness regime.
Vantage Health claims that its analytics help hospitals and doctors to better prepare for quick remedial action.
For the uninitiated, IQGEN is a healthcare investment and advisory firm founded by Iqbal himself. In May, last year, IQGEN had launched $100 million worth maiden healthcare-focussed fund Vantage to invest in India, some Asian countries and the Middle East.
It aims to invest anywhere between $1 million to $10 million (Series A round particularly) in the field of wearables, Artificial Intelligence, and Machine Learning.
Interestingly, half of the IQGEN’s maiden fund has been invested in Vantage Health.
The firm had also launched a biotech accelerator called BioX that was founded by Silicon Valley-based investors and Singapore-based entrepreneur Sandhya Sriram. The accelerator is looking to raise around $5 million fund to start its first batch of 10 companies in Hyderabad.
The development was reported by Business Standard.