Pune-based Vidcare Technologies has raised $300K in a pre-seed round led by Social Alpha, along with participation from Lavni Ventures and Derbi Foundation.
The proceeds will be utilised for product development, clinical testing, real world effectiveness and early commercialisation, Vidcare said in a press statement.
Founded in 2017, Vidcare Technologies develops easy-to-use portable health tests to make diagnostic testing convenient. The first product by Vidcare measures the thyroid stimulating hormone (TSH) for screening and monitoring hypothyroidism.
Vidcare has developed patented Mu-sure technology which is an equipment-free blood diagnostic platform using a microfluidics lab-on-a-chip based sandwich immunoassay. A self-contained chip with high test accuracy and quantifiable results, the single-use credit card sized tool provides results without the need for any additional electronic reader. Results can immediately be shared with the doctor to help make much faster clinical decisions.
Vidcare intends to become a leading brand in the point-of-care and consumer diagnostics space in India and abroad within the next five years, according to the company’s press statement. It aims to reach smaller cities and remote areas via partnership with public health systems, NGOs, and pharma companies.