[Funding alert] Chronic care startup OneCare raises $1M in pre-seed round led by Multiply Ventures and Better Capital
Bangalore based Diabetes care Startupon Monday raised ~$1 million in a pre-seed investment round led by Multiply Ventures and Better Capital.
The startup plans to utilise the fund for product development along with clinic partnerships, and to strengthen its workforce across teams like tech, clinical solutions, marketing, and operations.
The funding saw an additional participation from a host of angel investors, including Kunah Shah (Founder,), Shashank ND (Co-founder, ), Saikiran Krishnamurthy (Founder, xto10x), Ankit Bhati (Co-founder, ), Zishaan Hayath (Founder, ), Farooq Adam (Co-founder, ), Anand Shah (Co-founder, ), Shariq Plasticwala (Ex-Amazon Pay Head, and Founder, ), Gaurang Jhunjhunuwala (Partner, McKinsey), Nikhil Bhandarkar (Founder Panthera, Peak Ventures), Dinesh Advani (Co-founder, Playshifu), Aditya Kulkarni (Co-founder, ), Jonathan Chan (Chief of Staff, Freetrade), and Amit Ghorawat (Co-founder, Bicycle.Ai).
Founded by Dr Rakesh Shivran and Sagar Bhat in 2021, OneCare leverages AI and IOT technology, behavioural science, and clinical science to reimagine clinics that provide 10x better outcomes to patients with chronic diseases like diabetes.
The startup transforms an existing diabetes clinic into a technology-enabled, protocols-driven, smart clinic that provides comprehensive clinical, lifestyle, and behavioural interventions to patients, instead of just focusing on giving medicines.
Rakesh Shivran, Co-founder and CEO at OneCare, said,
“The Indian healthcare system, designed for acute conditions and infectious diseases, fails to provide much-needed comprehensive care suiting the needs of chronic disease patients. At most clinics, patients do not have options to get this comprehensive care and are stuck in the vicious cycle of over-reliance and increasing burden of only pharmaceutical interventions.
"With an aim to address this massive gap in care delivery , we have created OneCare, an end-to-end diabetes care model, which helps patients achieve lower blood sugar, while reducing the need for medications, including insulin. With this investment, we will strengthen our workforce across teams like tech, clinical solutions, marketing, and operations, and further enhance our product to provide tailor made clinically proven diabetes programs to our patients at all OneCare clinics.”
Chronic disease management as a whole - and diabetes management in particular - leaves a lot to be desired.
""OneCare looks to solve this through a unique omnichannel approach that can have 10x better results than any solution available in india. We are excited to partner with the founders in addition to our co-lead, Better Capital, in building this out," said Raveen Sastry, Partner, Multiply Ventures.
“We are reimagining chronic care by bringing the world’s best technology and research wrapped in a modern experience to help patients manage their diabetes and other chronic conditions 10x better. By partnering with clinics in your neighborhood in an asset-light model, OneCare will be a walk away for millions of patients in India to get the best care package,” said Vaibhav Domkundwar of Better Capital.