Tomorrow Capital spearheads $2.7 MN investment round in VitusCare – 'Bharat' focused kidney care start-up
MUMBAI, India, April 16, 2024 /PRNewswire/ — Tomorrow Capital, a $100 MN Mumbai-based operating venture capital fund, has invested in VitusCare, a leading kidney care startup based in Gurgaon. Tomorrow Capital’s commitment to addressing chronic healthcare challenges in India is exemplified by its substantial lead investment in Vitus Care’s $2.7 MN Series A funding round.
VitusCare, founded in 2017, has emerged as a trailblazer in the provision of quality dialysis care, particularly in regions where access to such services is limited.
India has 5MN+ patients suffering from ESRD (end-stage renal disease), however, only about 5% of these receive regular dialysis with reasons ranging from affordability, lack of awareness and critically access. Even today, most dialysis services are skewed towards the bigger cities, further compounding this problem for Bharat where patients must travel ~50km for every dialysis session (or hence unable to travel leading to accelerated mortality)
With ~30 centres currently operational across North India, VitusCare’s collaborative approach with existing hospitals ensures the seamless delivery of end-to-end dialysis services, including equipment provision, skilled technicians, and patient care. In essence, a quality renal care service even in the hinterlands of India.
In addition to Tomorrow Capital’s contribution, the funding round saw participation from existing investor 1Crowd, alongside support from 3i Partners and a consortium of angel investors, totalling approximately $5 Million in funding across all the funding rounds. This investment marks Tomorrow Capital’s steadfast dedication to supporting visionary entrepreneurs who are driving transformative changes in healthcare delivery. The fresh capital injection will empower VitusCare to aggressively expand its operations, with a targeted focus on deeper penetration into Bharat.
Rohini Prakash, CEO of Tomorrow Capital, underscored the firm’s investment thesis, stating, “Tomorrow Capital has a long-standing commitment to supporting brands that address large, real consumer problems such as chronic healthcare issues in India. As the prevalence of lifestyle-related disorders such as diabetes and hypertension continue to rise, the demand for kidney-related services is poised to increase exponentially. VitusCare’s innovative approach and impressive growth trajectory align perfectly with our mission to invest in solutions that make a meaningful impact on public health.
We are thrilled to join forces with VitusCare on their journey to becoming a leading kidney care brand in India. Their commitment to delivering high-quality, patient-centric care resonates deeply with Tomorrow Capital’s vision for a healthier, more equitable future for all.”
Prabhat Shrivastava, Co-Founder & CEO, VitusCare said, “Tomorrow Capital’s investment marks a significant milestone for VitusCare as we embark on our mission to deliver high-quality, patient-centric care to underserved regions of India. This fundraise will be pivotal in accelerating our expansion efforts and scaling our operations to meet the growing demand for quality dialysis care. We are thrilled to welcome Tomorrow Capital onboard as the driving force behind this funding round. Their unwavering passion and long-term vision align seamlessly with our commitment to providing accessible healthcare solutions in essential and underserved areas. Together, we are poised to make a meaningful impact on the lives of countless individuals in need of critical medical services.”
VitusCare is led by a formidable trio of co-founders: Prabhat Shrivastava, CEO & Co-Founder; Dr. Saurabh Pokhariyal, Chief Medical Director & Co-Founder apart from being a renowned nephrologist; and Pankaj Tandon, CFO & Co-Founder. The fresh capital infusion will empower VitusCare to aggressively expand its operations, with a targeted focus on deeper penetration into Bharat.
About Tomorrow Capital:
Tomorrow Capital is a $100 million operating investment fund investing in multiple sectors in the consumer space. Tomorrow Capital focuses on empowering stellar early-stage entrepreneurs with strong and differentiated models to build transformative and sustainable businesses around consumption themes of the future. With a deep understanding of business fundamentals, Tomorrow Capital aims to create iconic consumer brands out of its investee companies in India.
About VitusCare
VitusCare is a pioneering kidney care startup committed to revolutionizing dialysis services in India. Founded in 2017, VitusCare operates with a mission to provide high-quality, patient-centric Dialysis care, particularly in underserved regions. Through strategic partnerships with existing hospitals, VitusCare delivers end-to-end dialysis solutions, including equipment provision, skilled technicians, and comprehensive patient care. With a focus on affordability and accessibility, VitusCare aims to bridge the gap in access to quality dialysis services, thereby improving the lives of individuals affected by end-stage renal disease (ESRD). As a fast-growing brand in the healthcare industry, VitusCare provides our patients with world-class dialysis care.
Contact
Tulika Alva
+91-9820501507
[email protected]
Vishal Rao
+91-98192 58963
[email protected]
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