IIT Madras incubated health tech startup Mocero Health has raised Rs 1.3 crore (approx. $157, 000) as part of a preliminary investment round which was led by Inflection Point Ventures, a Angel investment firm based in Gurugram.
Mocero Health, incubated at the Healthcare Technology Innovation Centre (HTIC), IIT Madras Research Park (IIT-MRP) was established by SPJIMR alumni N. Palaniappan, a professional in digital technology with more than fifteen years experience working in the field of mobile banking as well as digital payments.
The startup stated that it will make use of the capital raised to further develop its products and increase its sales channel which it plans to create an electronic health platform that provides seamless data exchange and service interchange.
Mocero Health Solutions aims to create an omnichannel, digital system for hospitals using an innovative Healthcare Management System (HMS) by creating modules that satisfy the demands of patients.
“Hospital without walls” – Mocero was designed with the intention of creating an internet-connected community rather than a limited physical space. It’s about developing a platform that allows health care providers, patients and the families of patients are all on the same platform exchange information about health and medical the services they provide,” said Palaniappan Narayanan.
Mocero hopes to bridge this gap with digital transformation in the delivery of care through engagement, interaction, and connected care, with a focus on personalized and patient-centered health care, telehealth and in-home care, omnichannel connectivity transparency and interoperability” Palaniappan said.
On the subject of the investment Madhukar Bhhardwaj Director of Business Development & Investments at Inflection Point Ventures, says, “In the last 2 years, the health technology sector has seen a rapid growth rate. The traditional healthcare infrastructure companies have recognized the necessity of being modern and technologically proficient to meet ever-growing demands of healthcare. But, the vast Tier 2 and Tier 3 healthcare facilities are still far from the rest of world when it comes to smart digital adoption.”
“This requirement for greater transparency and improved patient management is driving the micro aspects within the sector. Mocero is in the right position because the team that founded it understands the medical and tech pieces to provide a practical solution to the ever-growing market for healthcare across India,” Madhukar added.
According to the startup, India’s technological adoption in healthcare is expected to increase at a rate of 39% over the period of 2020 to 2023. But, the country is far behind the rest of the world in embracing technologies for health in primary healthcare, secondary care and even a lot of tertiary care establishments.
With a well-thought-out solution that is patient-centric, user-friendly and simple, Mocero seeks to accelerate the use in IT for healthcare. the company said.
The company said it assists in the fulfillment of an essential requirement to obtain NABH accreditation of hospitals and other providers of prescription digitalization.