Omidyar leads $2 million seed funding for Neodocs

• ByStartupStory     |    February 8, 2024

Neodocs, the provider of affordable smartphone-based test kits, has secured Rs 16.6 crore or $2 million in its seed round, with Omidyar Network India leading the investment. Other investors include YCombinator, 9Unicorns, Gemba Capital, Titan Capital, and notable angels such as Prashant Tandon and Gaurav Agarwal (1Mg), Rohit MA (Cloudnine), Kunal Shah (Cred), Varun Alagh (Mamaearth), Viren Shetty (Narayana Healthcare), Harshad Reddy (Apollo Hospitals), and Vivek Gambhir (Boat).

According to Neodocs, the funding will fuel its expansion into international markets, including Europe, Australia, the Middle East, and the Americas.

“We are thrilled to receive the support of our investors as we continue our journey to democratize healthcare through accessible and convenient testing solutions,” said Nikunj Malpani, Co-founder of Neodocs.

The startup, founded by Nikunj Malpani, Anurag Meena, and Pratik Lodha, initially introduced two urine-based tests, the Kidney Care Kit, and the UTI Care Kit, which do not require lab machines for processing.

“The Kidney Care Kit measures urine albumin creatinine ratio (UACR) + 14 other parameters, while the UTI Care Kit screens for urinary tract infections by tracking 10 parameters,” explained Anurag Meena, Co-founder of Neodocs.

Neodocs has already sold over 200,000 test cards and is utilized by over 4000 doctors across India. Additionally, the company is developing ‘instant’ finger-prick blood tests that will provide results directly on the phone with just a picture.

“We are committed to collaborating with pharmaceutical companies and government entities to digitalize testing in remote areas,” added Pratik Lodha, Co-founder of Neodocs.

This marks Omidyar’s third investment since announcing the winding up of operations in India, following funding rounds in Revfin and Sportvot.

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