NephroCare has successfully raised Rs 8.08 crore in pre-IPO funding
- ByStartupStory | December 29, 2023
NephroCare India, based in Kolkata, a comprehensive renal care institution, has secured Rs 8.08 crore in its pre-IPO funding round, paving the way for its expansion plans.
The company announced that this funding round witnessed involvement from prominent investors, including former HDFC chairman Deepak Parekh, HDFC Securities chairman Bharat Shah, and Rajendra Agarwal, founder and MD of Macleods Pharmaceuticals.
In a statement, NephroCare India revealed that this fresh capital injection will be instrumental in its goal to establish 22 advanced kidney care facilities across India by March 2026. By the end of the current fiscal year, the company aims to have four operational centers. Moreover, their broader vision spans establishing 300 NephroCare centers throughout the country within the next 8-10 years.
Highlighting the urgent requirement for such expansion, company officials emphasized the immense demand for kidney care units in India. They pointed out the stark reality of approximately seven crore patients grappling with chronic kidney diseases, while the number of haemodialysis centers across the nation stands only at around 12,881.
The officials underlined the limited access to proper treatment amid nearly one in eleven Indians being susceptible to renal failure, often driven by diabetes and hypertension.
According to the company, India, recognized as the ‘diabetes capital of the world’, witnesses an alarming influx of roughly 250,000 new dialysis-dependent patients annually due to advanced kidney conditions. This underscores the pressing need for increased infrastructure and facilities to address the growing health crisis.
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