IPV leads seed round in health tech startup Mocero

Health tech company Mocero Health has raised a seed round of Rs 1.3 crore led by Inflection Point Ventures. This is the maiden funding for the Chennai-based firm.

Mocero plans to use the raised funds for product development and widen its sales channel, the company said in a press release.

Founded in 2017 by N. Palaniappan, Mocero provides a digital platform to assist hospitals in becoming omnichannel and expanding their reach. It facilitates NABH accreditation of healthcare facilities and prescription digitisation. It has also developed insights for medical research and symptoms for early diagnosis.

Incubated at IIT-Madras, Mocero competes with Millennium Health Solutions Fitato Health Solutions.

In May, Inflection Point Ventures launched $50 million AIF CAT II venture capital fund Physis Capital. According to IPV, the new fund will have a greenshoe option of $25 million, and will look to invest in 15-20 startups through pre-Series A to Series B funding rounds with check sizes ranging from $2 million to $10 million. 

So far, IPV has invested over Rs 500 crore in more than 140 startups across sectors such as consumer tech, edtech, healthtech, fintech, B2B SaaS, social and content commerce. Digital marketing solution provider Intellemo and Fabrication Bazar, an engineering company for manufacturing sectors, recently received funding from the startup investment platform.

The fund has also secured full exits from a clutch of startups such as BharatPe, Hobspace, Fitso, Qbera and Pedagogy, among others.