IIT Kanpur-incubated Noccarc raises funding from SIDBI to fuel healthcare innovation

Noccarc, an IIT Kanpur incubated startup recently raised an undisclosed amount in funding from the Small Industries and Development Bank of India (SIDBI)

This investment comes under the SIDBI Seed Equity Support Scheme (S4-SIIC), launched in March 2023 during the annual startup festival Abhivyakti 2023 in IIT Kanpur

The startup will use the raised capital to expand its existing operations and make progress in developing a smart ventilator solution for a global market

Noccarc has developed India's first indigenous ventilator during the COVID-19 pandemic and is aiming to revolutionize healthcare through cutting-edge technologies

The SIDBI Seed Equity Support Scheme (S4-SIIC) comes as a result of a partnership with SIIC IIT Kanpur to invest in startups incubated at SIIC through equity-based seed fund support

Noccarc has been selected for funding following a thorough evaluation and will use the raised capital to develop a smart ventilator solution for a global market