IPV, PointOne Capital leads seed round in healthcare discovery platform DCode Care

India-based data-driven healthcare discovery platform DCode Care today said it has raised an undisclosed amount in a Seed funding round led by angel investment firm Inflection Point Ventures and PointOne Capital.

This is IPV's 25th for 2021 and is likely to invest Rs 155 crore across 60 plus startups. The development comes six months after the startup raised Pre-Seed financing from an early-stage venture firm 100X.VC and a clutch of angel investors. 

According to a statement, The funds raised will be utilized for marketing and business development, expansion to cities beyond Bangalore, and product development to deliver a personalized tech-driven experience for patients.

DCode Care helps critical illness patients discover the right treatment and healthcare providers basis their condition and budget. The start-up leverages proprietary technology to bring transparency in medical treatments, the statement said.

"DCode Care is currently designing a complete eco-system around cancer care, right from diagnosis to finding the right hospital to financing the treatment," Ankur Mittal, Co-Founder, Inflection Point Ventures said.

"We support them as they look to expand their reach across other critical illnesses. Half the battle is won when you have found the right doctor and the right treatment at the right budget for serious diseases. We believe that DCode Care’s platform has been thoughtfully designed to empower patients with the right information and guidance. The business model has a positive social cause with strong business metrics underneath," he adds.

DCode Care was founded in 2019 by Preeti Veenam and Apurv Hajare, with a mission to help patients suffering from critical illnesses such as cancer find the right care providers at the right prices.

The healthcare startup said that it has served over 50,000 cancer patients and also provides medical financing to its patient base.

"The startup fulfills a huge gap in the critical illness journey of a patient. As the first institutional investor, 100X was impressed by the vision of DCode Care as India's first data-driven healthcare discovery platform for critical illness. We firmly believe that the DCode Care has built a good platform which meets a huge societal need and also lends itself to a scalable business model." Ninad Karpe, Partner, 100X.VC said.

DCode Care claims that through its wide network of partnerships, it can extend tests and treatments at a discounted price, saving up to 30% of overall patient expenses incurred during the treatment. 

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