Elevation Capital leads $18M round in MOC Cancer Care
Backed by Tata Capital, MOC offers personalised and quality care to lakhs of people who are diagnosed with cancer every year. It relies on clinical research, technology, and tumour boards to ensure that the care given is always evidence-based.
MOC Cancer Care & Research Centre, a chain of cancer daycare centres, has raised $18 million in funding led by Elevation Capital.
MOC had raised $10 million from Tata Capital Healthcare Fund in 2023 to expand its operations and technological capabilities.
MOC, a unit of Cellcure Cancer Centre Pvt Ltd., was founded by Ashish Joshi, Vashishth Maniar, Pritam Kalaskar, and Kshitij Joshi in 2018. It operates in 24 centres in Mumbai, Pune, the Rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh.
In May 2024, MOC expanded its services by joining hands with Hemato Oncology Clinic (HOC), which was the second-largest independent chain of community cancer care centres in India. This merger has allowed the company to expand its operations in Gujarat.
MOC is looking to expand operations in Delhi NCR and other parts of India and develop a molecular oncology lab and preventive oncology services to expand its scope of services, the company said.
MOC offers personalised and quality care to lakhs of people who are diagnosed with cancer every year. It relies on clinical research, technology, and tumour boards to ensure that the care given is always evidence-based.
“Making advanced, effective cancer care accessible to everyone is our top priority. The first investment was by Tata Capital Healthcare Fund in 2023 and now the current investment by Elevation Capital significantly propels us forward on this journey," said Manish Jobanputra, Chief Operating Officer, M|O|C.
"This capital boost will not only enhance our infrastructure and expand the network of taking cancer care closer to the patient but also enable us to conduct large-scale clinical trials, explore new therapies, and maximize the potential of existing ones,” he added.
“We are excited to partner with M|O|C as they lead the way in advancing cancer care across India. Their patient centricity really stood out to us at every single centre of the company. That combined with their unmatched clinical acumen is helping them deliver truly remarkable care to their patients! We are confident in the team’s ability to scale their services to more patients across India, while continuing to be the gold standard of cancer care in the country,” said Mayank Khanduja, Partner, Elevation Capital.
According to MOC, India faces a growing cancer burden with 1.5 million new cases annually. The country’s cancer care infrastructure remains inadequate, with challenges such as limited hospital bed availability, long travel distances for patients, concerns over hygiene and quality of care, and a lack of personalised treatment.
Moreover, access to higher-quality care, particularly in private facilities, often comes at a significant cost. Most private hospitals operate as tertiary care centres, making it difficult to establish a widespread network of specialized cancer treatment facilities due to capital-intensive requirements.
Elevation Capital’s notable healthcare investments include Loop Health, which raised $12 million in a Series A round co-led by Elevation in 2021. Another investment is Curelink, a Gurugram-based healthtech startup that secured $3.5 million in seed funding in 2022.
Edited by Megha Reddy