[Funding alert] Cancer care aggregator Onco raises Series A investment of $7M led by Accel Partners, Chiratae Ventures, and Dream Incubator
Cancer care aggregator Onco has raised Series A funding of $7 million led by Accel Partners, Chiratae Ventures, and Dream Incubator. The platform aims to be a one-stop shop for all cancer-related needs of patients and caregivers.
With this fund raise, the team plans to expand its customer base and scale operations globally.
Rashie Jain, CEO and Co-founder, Onco.com, said:
“We are solving a critical problem, that of 'information gap' that every cancer patient and their family experiences. There are three million cancer patients getting treated in India alone and around seven million cancer patients across Middle East, Africa, and Asia, where our services are available presently.”
The Founders of Onco: Rashie Jain and Dr Amit Jotwani.
She said a significant number of patients struggled to get the right treatment advice or find the right doctors or hospitals as there currently aren’t many credible sources of information that guide the patients to the right treatment plan, doctors, and hospitals.
“With Onco.com, we are focused on building this cancer ecosystem that patients can tap into anytime in their treatment journey.”
The platform currently offers treatment advice and care management to cancer patients across 18 countries. It has a network of over 1,500 oncologists, has over 500 hospitals and labs, and also allows patients to get personalised advice.
Ranjith Menon, Executive Director, Chiratae Ventures, said "Cancer is a global challenge. India alone adds more than a million patients every year. We are excited to see Onco.com developing into a vertical platform that brings all the various stakeholders like patients, clinicians, care providers, and diagnostics.”
The platform also manages the patient’s end-to-end care by connecting them with the relevant treatment centres, doctors, and labs.
Barath Shankar Subramanian, Partner, Accel India, said: “It has been an incredibly fulfilling journey to see Onco.com grow from a concept to a clinically recognised technology cancer care platform that offers full-stack support to cancer patients and caregivers in India and emerging markets. Given the hugely increasing cancer disease burden and severely skewed oncologists-to-patient ratio in the country, we believe that there is tremendous work to be done in cancer care delivery. It is clear to us that the best way for effective healthcare to progress is by building awareness, collaborations and communities on a patient-centric and network aggregated business model, which Onco.com does holistically.”
The platform handles around 10,000 unique cancer cases month on month across different geographies. It also offers complimentary treatment advice to children under 14 years. Until now, the company has assisted over 100 children with cancer.
Munehiko Eto, MD of Dream Incubator India, said, “Onco.com is not only a technology company but a healthcare company. DI has extensive expertise and network in the healthcare space in Japan and SEA and will support Onco.com in international expansion. In India, we have made 20+ investments in the space of health, finance, media, entertainment, and other areas. This is our fifth investment in the health space in India.”
(Edited by Teja Lele Desai)