Dozee Raises INR 44 crore/USD 6 Million in Series A: Set to Transform Critical Care Infrastructure across India through Contactless Remote Patient Monitoring Platform
Investors: Prime Venture Partners, 3one4 Capital & YourNest Venture Capital 50,000 step-down ICU beds in over 1,000 hospitals, saving 10 million nursing hours in next the 12 months Dozee, a pioneer in Contactless Remote Patient Monitoring (RPM)
Investors: Prime Venture Partners, 3one4 Capital & YourNest Venture Capital
50,000 step-down ICU beds in over 1,000 hospitals, saving 10 million nursing hours in next the 12 months
Dozee, a pioneer in Contactless Remote Patient Monitoring (RPM) solutions, has raised INR 44 crore in Series A funding. The funding was led by existing investor Prime Venture Partners, with participation from YourNest Venture Capital and 3one4 Capital. The startup will use the fresh capital in R&D to launch new products and enhance its platform capabilities. It will also use the funds to increase its presence in HDU ward monitoring, home monitoring, and to deliver a cloud-enabled continuum of care. Dozee has set an audacious goal of partnering over 1,000 hospitals across India to help them upgrade critical care infrastructure through remote patient monitoring. It plans to install its platform in more than 50,000 step-down ICUs and set-up 24×7 Central Monitoring Cells in these hospitals, enabling them to quickly augment the critical HDUs and ICUs and save more than 1 million nursing hours per month.
Dozee is witnessing an increased adoption of its Remote Patient Monitoring solution with over 216 hospitals across India partnering with the startup in the last 6 months. It has deployed its platform in over 5,000 beds in hospitals to monitor patients continuously and to help them enhance patient care and clinical outcomes. Dozee has monitored more than 32,000 patients, helping save thousands of lives by early identification of risk and health deterioration. Hospitals are currently using Dozee’s platform to convert any bed into a Step-Down ICU to continuously monitor a patient’s cardiac and respiratory cycles, and notify the critical care response teams of any abnormalities that may be detected before it becomes critical.
Dozee’s 24×7 Central Monitoring Cell in hospitals enables healthcare staff to monitor multiple patients remotely who were previously monitored manually only every couple of hours. The Central Monitoring System helps save crucial nursing hours and, on an average, Dozee saves around five hours of quality nursing time per patient. Custom alerts can be set for every patient, helping doctors optimise treatment plans, focus on deteriorating patients and provide improved proactive care at scale.
The COVID-19 pandemic has brought to the fore both challenges and opportunities in the healthcare sector in India. According to experts and doctors, India will need an extra 500,000 ICU beds, 200,000 nurses and 150,000 doctors in the next year alone. Dozee helps hospitals to increase the number of HDUs with centralized patient monitoring and make critical care more easily accessible and available, even in the remotest parts of the country. The hospital beds are equipped with Dozee’s contactless sensor platform that features an AI-powered triaging system that enables continuous (more than 100 times per hour) and accurate monitoring of a patient’s vitals, including heart rate, respiratory rate, and other clinical parameters like sleep apnea and myocardial performance metrics without coming in contact with the patient. Dozee even allows healthcare providers to remotely monitor patients’ vital signs, receive updates and deterioration alerts from home and other care settings outside the hospital. This model of continuum care delivery and monitoring is an innovation that Dozee will aim to scale out in partnership with leading Indian hospitals.
Dozee, the brainchild of IIT graduates Mudit Dandwate and Gaurav Parchani, has been developed after five years of deep research conducted in partnership with leading hospitals, notably NIMHANS, Sri Jayadeva Institute and AIIMS Jodhpur. Including the current funding round, the startup has raised over INR 63 crore and has over 150 employees in Bengaluru, Hyderabad, Mumbai, Kolkata.
Mudit Dandwate, CEO & Cofounder, Dozee
“As we continue our exciting journey to make Dozee the standard of critical care, this funding is a testament to our commitment to improve health care infrastructure in India. During the peak of the pandemic, we worked with top institutions in the country, both in public and private settings, to automate critical care delivery in high dependency units, saving over 70,000 nursing hours and more than 1,000 lives. We believe that the future of India’s healthcare lies in technologies such as Remote Patient Monitoring and AI which can ease the burden of hospitals and healthcare workers in delivering care that is timely, accessible and affordable.”
Sanjay Swamy, Managing Partner, Prime Venture Partners
“The Indian healthcare sector has seen a rapid transformation in the last year with hospitals, healthcare workers and patients embracing technology to access better care. Dozee is not only transforming the lives of doctors, nurses & patients but it has brought about massive changes in the critical care infrastructure in public hospitals. Through the past year, Dozee has been proven to save hundreds of lives and the data science team is able to launch new capabilities at breathtaking speed. Mudit and Gaurav are amazing founders and are building a truly world class team swiftly. We are delighted to partner with 3one4 and Yournest to continue to help take this company to the next stage. We see a huge potential for Dozee in bringing about a shift in the healthcare sector by enabling hospitals to provide affordable critical care infrastructure and upgrade rapidly without huge capital investments.”
Dr. Vivek Mansingh, General Partner, YourNest
“We are very excited to be part of the opportunity to help Dozee move to the next orbit. Apart from its growing adoption in hospitals across India, we believe that there is a real need to bring Dozee’s proprietary sensing technology and advanced AI algorithms to individuals and their family members at home. With the current debilitating medical infrastructure, Dozee has immense potential to deliver timely large-scale impact in healthcare delivery in India and actually save human lives.”
Pranav Pai, Managing Partner, 3one4 Capital
“Cloud and intelligence-enabled technology will fundamentally transform healthcare delivery in India. The Dozee team has developed grounds-up innovation to make hospital-grade vitals monitoring contactless and affordable, radically reimagining the matrix of care delivery across segments. This platform approach has helped hundreds of hospitals transform their install base of beds to smart step-down ICUs without the burden of up-front capex. Such technology will help every hospital enhance its quality of care, optimize the time spent by medical professionals, and improve the visibility and coverage of vitals of patients on premise as well as at home. We are excited to continue our work with the team as they prepare to scale across the country and beyond India soon.”