[Funding alert] ICU solution provider Cloudphysician raises $4M in pre-Series A round from Elevar Equity
, a healthcare and technology solutions provider focused on affordable and quality critical care, has raised $4 million in pre-Series A round from Elevar Equity.
With this round of funding, Cloudphysician looks to expand its critical care footprint globally, develop adjacent solutions, and grow its commercial, medical, technology and data science talent.
Founded by Dr Dhruv Joshi (Pulmonary and Critical Care Specialist; American Board of Internal Medicine) and Dr Dileep Raman (Pulmonary, Critical Care Medicine and Sleep Medicine Specialist; American Board of Internal Medicine), Cloudphysician is a global healthcare technology company that solves the acute shortage of skilled intensivists in the delivery of critical care.
Located in Singapore and Bengaluru, Cloudphysician started operations in 2017. The Indian arm of Cloudphysician manages ICUs in over 40 hospitals in 15 states and has treated more than 30,000 critically ill patients since 2017.
Cloudphysician has been successful in empowering the unsung frontline heroes during the pandemic as well, treating more than 5,000 COVID-19 cases, claims the startup.
Dhruv Joshi, Co-founder, Cloudphysician, said,
“Access to quality critical care cannot be solved with just a digital platform or hiring an ICU consultant (or intensivist), rather, it needs a holistic solution combining both clinical expertise and technology tailored to the respective hospital environment."
"Cloudphysician’s approach is based on hundreds of hospital visits across the world and promises to alter the existing paradigm by delivering outcomes for patients, championing the needs of caregivers and driving a strong return on investment for our partner hospitals. We are delighted to have the backing and support of Elevar Equity on this journey of expanding critical care access globally,” he added.
Sandeep Farias, Founder and Managing Partner, Elevar Equity, said, “At Elevar, we look to back entrepreneurs building innovative distribution models that can dramatically expand the reach of essential products and services to the mass market."
"Cloudphysician’s tele-ICU services and proprietary tech solutions make timely access to quality critical care a reality for people in Tier-II/III cities, rural India, and beyond. Dhruv and Dileep are passionate founders who lead a committed crew of medical experts, technologists, researchers and data scientists. We are excited to be equity partners in this journey,” he added.
“At Cloudphysician, we are building the world's most accessible critical care technology and service network, and are thrilled to partner with Elevar Equity to realize this shared vision of access, quality, and impact — at scale. To date, we have successfully equipped healthcare providers with advanced adult critical care support in not only multi specialty hospitals but also medical and surgical focused single specialty hospitals spanning oncology, maternity, gastroenterology, nephrology and additional clinical disciplines, and will immediately expand to pediatric and neonatology critical care offerings,” added Dr Dileep Raman, Co-founder, Cloudphysician.
Edited by Kanishk Singh