Mumbai Oncocare Centre gets $10M Series A funding from Tata Capital Healthcare Fund
MOC plans to utilise the newly infused capital to expand across India in the next 18 months.
raised $10 million from Tata Capital Healthcare Fund (TCHF) to expand across India in the next 18 months.
“The philosophy and mission of MOC—to provide high quality care at affordable price points—aligned with our objective of financing such scalable and profitable business models,” said Vamesh Chovatia, Partner at TCHF.
TCHF runs a chain of cancer daycare centres and has raised around $200 million across two funds—TCHF I (2012) and TCHF II (2022). Across both the funds, TCHF has invested in 12 companies and has made five exits thus far.
Founded in 2018 by four medical oncologists Dr Ashish Joshi, Dr Vashishth Maniar, Dr Pritam Kalaskar, and Dr Kshitij Joshi, MOC is operational at 16 locations across 10 cities of Maharashtra and Madhya Pradesh.
“It is our privilege to join hands with Tata Capital, which is part of the Tata Group, which has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally,” said Manish Jobanputra, COO of MOC.
According to the company, every year approximately 15 lakh people get diagnosed with cancer in India, and at any given time, there are additional 25-30 lakh cancer patients who are undergoing treatment. A large number of these patients need chemotherapy and immunotherapy, and the majority need to consult a medical oncologist during their treatment journey. MOC said it addresses this unmet need with community daycare centres that are fully compliant hospitals where these patients can get personalised care.
MOC claims it puts high emphasis on clinical research, technology, and tumour boards where the collective wisdom of its oncologists ensures that the care given is always evidence-based.
Edited by Kanishk Singh