Venture studio 2070 Health raises $30M to seed healthtech companies
2070 Health has launched three healthcare-focused companies in the past nine months: ElevateNow, Nivaan Care, and Reveal HealthTech.
2070 Health, a healthcare venture studio, has raised $30 million from healthcare-focused VC fund to build healthcare companies from scratch.
It will use the capital to build the platform and seed newly launched companies.
Founded in October 2022 by Pankaj Jethwani, 2070 Health wants to help founders rapidly test, launch, and iterate on their ideas. It aims to help make high-quality healthcare more accessible and affordable in India.
The venture studio shortlists potential ideas, which go through a validation process involving conversations with doctors and patients, clinical studies, and go-to-market experiments to arrive at a solution.
"We are developing these playbooks leveraging the team's decades of experience building healthcare, technology, and consumer companies. The goal is to scale our companies faster, better, and cheaper than traditional startups in the riskiest early months of company building," said Dr Pankaj Jethwani, CEO of 2070 Health.
2070 Health has launched three companies in the past nine months: ElevateNow, Nivaan Care, and Reveal HealthTech.
"The healthcare industry is slow to change, relationship-driven, highly regulated, and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard. The rules of building fast-paced technology startups seldom apply when you're dealing with people's lives and the resulting need for regulation," said Sunil Wadhwani, serial technology entrepreneur and President of W Health Ventures.
"We invested in 2070 Health to address challenges that founders face while innovating in healthcare. Via companies launched by 2070 Health, we aim to impact the future of healthcare for one billion Indians over the next decade," he added.
Healthcare-focused VC firm W Health Ventures invests in US- and India-based companies that address critical unmet healthcare needs to improve care delivery by leveraging technology.
Recently in March, the venture invested $4 million in US-based Reveal HealthTech, which provides cross-functional technology services to healthcare companies and offers engineering, clinical, and strategic support.
Edited by Kanishk Singh