Bengaluru-based healthtech startup Dozee has raised INR 71.5 crore (~ USD 8.3 million) through a combination of equity and debt funding. The latest infusion marks a pivotal moment for the company as it aims to transition from a growth-challenged domestic player to a globally recognized medical technology innovator.
Dozee – Funding Breakdown
The company recently closed the funding round with Temasek Trust’s impact-first investment arm C3H investing INR 6.3 crore in equity and Stockhausen International Pte Ltd investing INR 58.5 crore in debt, according to a regulatory filing. Other undisclosed strategic investors also participated in the round.
Dozee plans to use the funds to scale up international presence in markets like the US, UAE and Africa and strengthen R&D to enhance remote critical care monitoring capabilities.
This round takes Dozee’s total funding to nearly USD 20 million (~INR 171.57 crore) after its previous USD 6 million (~INR 51.47 crore) Series A2 round in 2023 led by 3one4 Capital, Prime Venture Partners, YourNest VC and State Bank of India.
Dozee – Overview
Founded in 2015 by Mudit Dandwate and Gaurav Parchani, Dozee is a key player in the digital transformation of critical care. Its flagship product—a contactless patient monitoring system—allows hospitals to remotely track vital parameters like heart rate, respiration rate, blood pressure and temperature.
Dozee’s AI-powered Early Warning System proactively alerts clinicians to signs of patient deterioration so they can intervene in time and improve clinical outcomes.
The company competes with other Indian healthtech players like Zyla Health, Fix Health, Zivov and Cardiac Design Labs.
Operational Metrics: Efficiency Up, Losses Down
Despite slow growth in India, the company has shown good financial discipline in FY24.
- Revenue grew 148% YoY to INR 5.2 crore, from INR 2.1 crore in FY23.
- Including other income of INR 1.3 crore, total revenue was INR 6.5 crore in FY24.
- Net loss reduced by 19% YoY to INR 68 crore, from INR 84.4 crore in the previous year.
- Dozee also managed to reduce total expenses by 15%, from INR 87.9 crore to INR 74.5 crore.
- Notably, employee costs—the biggest expense—fell 12% YoY to INR 47 crore, indicating recent restructuring.
International Ambitions
With India’s healthcare market being tough to scale, Dozee has shifted focus to global expansion. The company already has a presence in the US, UAE and select African countries and plans to expand its product suite and geographic footprint in the next quarters.
According to sources, Dozee is also diversifying its product portfolio to cater to broader segments of the critical care and home health monitoring sectors, which are getting strong tailwinds post-pandemic.
Conclusion
Dozee’s fundraise not only gives them the capital to scale globally but also reflects investor confidence in the company’s strategy. While it still has to battle structural inefficiencies in the Indian healthcare ecosystem, its cost control, focused innovation and international ambition might just make it a player to watch in the global healthtech space. Now the company has to prove itself in India and deliver.
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