Bangalore-based chronic care startup OneCare has raised $1 million in a pre-Seed funding round led by Multiply Ventures and Better Capital.
The round also saw participation from individual investors, including Kunah Shah (Founder, CRED), Shashank ND (Co-founder, Practo), Saikiran Krishnamurthy (Founder, xto10x), Ankit Bhati (Co-founder, Ola), Zishaan Hayath (Founder, Toppr), Farooq Adam (Co-founder, Fynd), Anand Shah (Co-founder, Ola Electric), Shariq Plasticwala (Founder, Kafqa Academy), Gaurang Jhunjhunuwala (Partner, McKinsey), Nikhil Bhandarkar (Founder Panthera, Peak Ventures), Dinesh Advani (Co-founder, Playshifu), Aditya Kulkarni (Co-founder, Stoa School), Jonathan Chan (Chief of Staff, Freetrade), and Amit Ghorawat (Co-founder, Bicycle.Ai).
Founded in 2021 by Dr. Rakesh Shivran and Sagar Bhat, OneCare leverages AI and IoT technology, behavioral science, and clinical science to reimagine clinics that provide 10x better outcomes to patients with chronic diseases like diabetes.
With this round of funding, OneCare plans to fund its product development along with clinic partnerships and to strengthen its workforce across teams like technology, clinical solutions, marketing as well as operations.
The health tech startup transforms an existing diabetes clinic into a technology-enabled, protocols-driven, smart clinic that provides comprehensive clinical, lifestyle, and behavioral interventions to patients, instead of just focusing on giving medicines.
“The Indian healthcare system, designed for acute conditions and infectious diseases, fails to provide much-needed comprehensive care suiting the needs of chronic disease patients," Rakesh Shivran, Co-founder and CEO at OneCare, said.
"At most clinics, patients do not have options to get this comprehensive care and are stuck in the vicious cycle of over-reliance and increasing burden of only pharmaceutical interventions."
"With an aim to address this massive gap in care delivery, we have created OneCare, an end-to-end diabetes care model, which helps patients achieve lower blood sugar while reducing the need for medications, including insulin. With this investment, we will strengthen our workforce across teams like tech, clinical solutions, marketing, and operations, and further enhance our product to provide tailor-made clinically proven diabetes programs to our patients at all OneCare clinics," he adds.
Speaking on the investment, Raveen Sastry, Partner at Multiply Ventures, said: “Chronic disease management as a whole and diabetes management in particular leaves a lot to be desired. OneCare looks to solve this through a unique omnichannel approach that can have 10x better results than any solution available in India.”
According to a company's statement, India is set to become the chronic disease capital of the world with almost 400-500 million people projected to have at least 1 chronic condition with Diabetes and Pre-diabetes alone having over 160 million patients. The Indian chronic care market is > $50 billion with a high prevalence of chronic diseases and an increasing incidence rate.