Healthtech platform Neodocs raises $2 million from Omidyar Network, others

Healthtech platform Neodocs, that builds smartphone-based health-test kits, has raised $2 million in a seed funding round led by Omidyar Network India, Y Combinator and 9 Unicorns, among others.

With this funding, the Mumbai-based company aims to double down its investments in existing products, particularly focusing on its kidney care and urinary tract infections (UTI) kit. It also plans to enhance its self-diagnosis offerings by introducing a finger-prick blood test product that will provide results on a smartphone.

“We are now working with doctors and major pharma companies like Cipla, Sun Pharma, AstraZeneca, and now we feel the time is right to announce ourselves and do more partnerships. We are now able to standardise the test results across any lighting condition, and any phone cameras,” Nikunj Malpani, CEO and cofounder of Neodocs, told ET.


Founded by IIT Bombay alumni Malpani, Anurag Meena and Pratik Lodha, Neodocs is developing an at-home testing platform that enables users to follow a couple of steps to apply a sample to a test card containing various chemicals. The card produces a visual output, such as a colour or intensity change, indicating biomarker levels. The Neodocs app on a smartphone then reads and interprets these results.

After two years of research and beta sales, the company now plans to expand into international markets, including Europe, Australia, the Middle East, Philippines, and the US. Malpani noted the potential for their solution in countries where phlebotomists are not readily available.

“We are having very good conversations with international partners as well. Outside India, phlebotomists are not easily available, so the need for our solution is much higher in other countries,” Malpani said.

Neodocs has sold over 2 lakh testcards by now and is being used by over 4,000 doctors across India, according to the company. It also distributes test cards through e-commerce platforms such as Amazon.

Malpani further said the company is collaborating with the governments of Maharashtra and Rajasthan to digitalise testing across remote areas of India.

“We are working with various governments to take our solutions to rural India, where labs are not available, and healthcare workers can use their own phones for testing with no other equipment required,” he added.

The company has raised a total of $2.5 million as of now and has a goal of selling over 10 million test kits by next year.

The round also saw participation from venture capital firms Gemba Capital, Titan Capital and prominent angel investors including Prashant Tandon and Gaurav Agarwal of 1Mg, Cloudnine’s Rohit MA, Kunal Shah of Cred, Varun Alagh of Mamaearth, Narayana Healthcare’s Viren Shetty, Harshad Reddy of Apollo Hospitals, and Vivek Gambhir of Boat Lifestyle.