Japan-based Dream Incubator backs cancer treatment startup Onco

Japan-based Dream Incubator backs cancer treatment startup Onco
Photo Credit: Photo Credit: Thinkstock
26 Sep, 2019

Onco, an online care platform for cancer patients, has raised $7 million in a Series A funding round.

Tokyo-based venture capital firm Dream Incubator and existing investors, Palo Alto-based venture capital firm Accel and Bengaluru-based venture capital firm Chiratae Ventures (formerly IDG Ventures), participated in the funding round, the healthtech startup announced in a statement on Thursday.

“In India, we have made 20+ investments in the space of health, finance, media & entertainment and other areas. This is our fifth investment in health space in India,” said Munehiko Eto, managing director, Dream Incubator India.

Onco will use the funds to expand customer base as well as ramp up hiring in a bid to scale up operations globally. Currently, the platform has over 30,000 active users from 18 countries, the statement added.

“A significant number of patients struggle to get the right treatment advice or find the right doctors/hospitals that could eventually affect their outcomes.  Presently, there is no credible source of information that guides the patients to the right treatment plan, doctors and hospitals and this creates a state of confusion and despair,” said Rashie Jain, CEO, Onco.

Onco manages end-to-end care with its network of relevant treatment centres, doctors and labs to cater to the varied concerns surrounding cancer treatment.

Co-founded in 2017 by Jain and Amit Jotwani, the company currently has a network of over 1,500 oncologists from India and the United States. It handles around 10,000 unique cancer cases month on month across different geographies, the statement said.

The platform also offers complimentary treatment advice to children under 14 years of age.

Recent deals in the healthtech sector:

Noida-based healthtech startup Agatsa Software raised $1 million in a funding round from seed-stage investment network Indian Angel Network (IAN) and the government-run Technology Development Board (TDB).

Kolkata-based healthtech platform iKure raised an undisclosed amount of funding from Inflection Point Ventures (IPV).

Pune-based healthtech startup Pharmarack raised $3 million in a Series A funding round from early-stage venture capital firm IvyCap Ventures.

Healthtech startup Meddo raised $3 million in seed funding round led by seed-stage investor SRI Capital with participation from growX Ventures, LetsVenture, Jitendra Gupta (co-founder, Citrus Pay) and Venture Gurukool.