Mumbai Oncocare Centre raises $ 10 million in Series A funding from Tata Capital Healthcare Fund
Mumbai, January 14, 2023: Mumbai Oncocare Centre (MOC), a Chain of Cancer Daycare Centers and a unit of Cellcure Cancer Center Pvt Ltd announced this Saturday that it has raised up to $10 million from Tata Capital Healthcare Fund for an undisclosed equity stake. MOC plans to utilize the newly infused capital to expand across India in next 18 months.
Founded in 2018 by four Medical Oncologist, (Dr Ashish Joshi, Dr Vashishth Maniar, Dr Pritam Kalaskar and Dr Kshitij Joshi), and immensely supported, contributed and co-created by 15 other Medical Oncologists, MOC is a pioneering chain of cancer daycares operational at 16 locations across 10 cities of Maharashtra and Madhya Pradesh.
Speaking on the partnership, Mr. Manish Jobanputra, COO of MOC said, “It is our privilege to join hands with Tata Capital, which is part of the Tata group that has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally”.
Partner at Tata Capital Healthcare Fund, Mr Vamesh Chovatia says, “MOC is an exciting addition in our healthcare and life science portfolio. As a healthcare focused fund, we were keen to be at the forefront of addressing cancer care and with MOC we found a great partner who are a focused medical oncology services delivery chain. The philosophy and mission of MOC, to provide high quality care at affordable price points aligned with our objective of financing such scalable and profitable business models. MOC is bridging the continuum and making treatments for patients accessible and affordable. We are extremely proud of supporting this young energetic team at MOC and it is a privilege to be a part of their noble journey”.
Every year approximately 15 lac people get diagnosed with cancer in India and at any given time there are additional 25-30 lakh cancer patients who are undergoing treatment. Large number of these patients need chemotherapy, immunotherapy, and majority need to consult a medical oncologist during their treatment journey. MOC addresses this unmet need with their unique community daycare centers, which are fully compliant hospitals, where these patients can get personalized, and high-quality care. MOC puts high emphasis on clinical research, technology, and tumor boards where collective wisdom of its oncologists ensure that the care given is always evidence based.