Cloudphysician, an India-based healthcare and technology solutions provider, raised USD 4 million in a pre-Series A round from Elevar Equity on 28 October 2021.
Investor: Elevar Equity invests early growth capital in businesses that demonstrate a direct correlation between high impact and returns. The Elevar Method of investing has democratized essential products and services for over 30 million low-income households in India and Latin America and catalyzed billions of dollars of capital into 40+ companies.
The Objectives behind the funding: The company plans to deploy the current proceeds to expand its global footprint and invest in strengthening its teams across verticals such as commercial, medical, technology and data science.
Founded in 2017 by pulmonary and critical care specialist Dhruv Joshi and pulmonary, critical care medicine and sleep medicine specialist Dileep Raman, Cloudphysician is a healthtech company transforming the delivery of critical care. The company uses its proprietary technology platform, RADAR, to remotely connect command centres staffed with trained critical care personnel to ICUs. These specialists use RADAR to monitor and manage patients 24/7, thereby improving the quality of care. Cloudphysician’s RADAR solution, designed for low resource settings, enables specialized doctors to leverage technology to increase access to quality ICU care. The Indian arm of Cloudphysician manages ICUs in more than 40 hospitals in 15 states and has treated over 30,000 critically ill patients since 2017.
What the Founders have to say:
“At Cloudphysician, we are building the world’s most accessible critical care technology and service network and are thrilled to partner with Elevar Equity to realize this shared vision of access, quality, and impact — at scale. To date, we have successfully equipped healthcare providers with advanced adult critical care support in not only multi-speciality hospitals but also medical and surgical focused single-speciality hospitals spanning oncology, maternity, gastroenterology, nephrology and additional clinical disciplines, and will immediately expand to paediatric and neonatology critical care offerings,” Dr Dileep Raman said.
“Access to quality critical care cannot be solved with just a digital platform or hiring an ICU consultant (or intensivist), rather, it needs a holistic solution combining both clinical expertise and technology tailored to the respective hospital environment,” Joshi said.
What the Investor has to say:
“At Elevar, we look to back entrepreneurs building innovative distribution models that can dramatically expand the reach of essential products and services to the mass market,” said Sandeep Farias, founder and managing partner at Elevar Equity. “Cloudphysician’s tele-ICU services and proprietary tech solution make timely access to quality critical care a reality for people in Tier II and III cities, rural India and beyond. Dhruv and Dileep are passionate founders who lead a committed crew of medical experts, technologists, researchers and data scientists. We are excited to be equity partners in this journey.
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