MOC Cancer Care & Research Centre raises $18 million in funding led by Elevation Capital

MOC Cancer Care & Research Centre, a network of 24 community oncology facilities operating under Cellcure Cancer Centre Pvt Ltd., has closed an $18 million funding round led by Elevation Capital.

The new capital infusion follows a $10 million investment from Tata Capital Healthcare Fund in January 2023, which helped MOC scale up its operations and technological capabilities.

MOC's market presence

Founded in 2018 by oncologists Dr. Ashish Joshi, Dr. Vashishth Maniar, Dr. Pritam Kalaskar, and Dr. Kshitij Joshi, MOC provides outpatient-focused cancer care—primarily chemotherapy and medical oncology—in Mumbai, Pune, the rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh.

In May 2024, MOC broadened its reach by merging with Hemato Oncology Clinic (HOC), the country’s second-largest standalone chain of community cancer centers, enabling an expansion into Gujarat.

Expanding presence

MOC plans to grow beyond western India, including entry into Delhi NCR and other regions. It also aims to develop a molecular oncology lab and preventive oncology services to broaden its service offerings. 

According to MOC, India faces 1.5 million new cancer cases each year, yet the nation’s oncology infrastructure remains inadequate.

Most private hospitals serve as capital-intensive tertiary care centers, often making it difficult to establish specialized cancer treatment networks across the country. Many patients must travel long distances for advanced care, often with limited bed availability and concerns around the quality of treatment. 

MOC said its approach—community-based, outpatient care—addresses these gaps by focusing on affordability, proximity to patients’ homes, and highly personalized treatment plans guided by clinical research and multidisciplinary tumor boards.

Leadership comments

“Making advanced, effective cancer care accessible to everyone is our top priority,” said MOC Chief Operating Officer, Manish Jobanputra, in a statement.

“The first investment was by Tata Capital Healthcare Fund in 2023 and now the current investment by Elevation Capital significantly propels us forward on this journey. This capital boost will not only enhance our infrastructure and expand the network of taking cancer care closer to the patient but also enable us to conduct large-scale clinical trials, explore new therapies, and maximize the potential of existing ones.”

“We are excited to partner with M|O|C as they lead the way in advancing cancer care across India,” said Elevation Capital partner, Mayank Khanduja.

“Their patient centricity really stood out to us at every single centre of the company. That combined with their unmatched clinical acumen is helping them deliver truly remarkable care to their patients! We are confident in the team’s ability to scale their services to more patients across India, while continuing to be the gold standard of cancer care in the country.”