Omidyar leads $2 Mn seed round in Neodocs

Affordable smartphone-based test kits Neodocs has raised Rs 16.6 crore or $2 million in its seed round led by Omidyar Network India. 

Other investors include YCombinator, 9Unicorns, Gemba Capital, Titan Capital, and angels such as Prashant Tandon and Gaurav Agarwal (1Mg), Rohit MA (Cloudnine), Kunal Shah (Cred), Varun Alagh (Mamaearth), Viren Shetty (Narayana Healthcare), Harshad Reddy (Apollo Hospitals) and Vivek Gambhir (Boat).

According to Neodocs, the funds will be used to expand its footprint in international markets, including Europe, Australia, the Middle East, and the Americas. 

Founded by Nikunj Malpani, Anurag Meena and Pratik Lodha, Neodocs initially introduced two urine-based tests that leave no dependency on lab machines: The Kidney Care Kit and the UTI Care Kit. 

The startup claims to have sold over 200,000 testcards till now and is being used by 4000+ doctors across India. The firm is also working on rolling out ‘instant’ finger-prick blood tests that will give results on the phone by just clicking a picture.

The Kidney Care helps measure urine albumin creatinine ratio (UACR) + 14 other parameters while the UTI Care Kit helps screen for urinary tract infections by tracking 10 parameters. 

The team is also working with multiple pharmaceutical companies like Cipla, Eris, Sun Pharma, AstraZeneca, Bayer, and RPG Life Sciences, along with the Government of Maharashtra Nashik) and the Government of Rajasthan (Ladnu) to digitalise testing across remote areas. 

This is the third investment from Omidyar since its announcement of winding up operations from India. It recently led funding rounds in Revfin and Sportvot.