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Neodocs

Neodocs
Startup Name: Neodocs
Country: India
Date Founded: /7/2021
Financial Stage: Seed
Area: AI, ML

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Neodocs is a YCombinator and Omidyar backed health-tech startup, founded by IIT Bombay alumni - Nikunj, Anurag and Pratik. We’re building instant, smartphone based tests that can be done anytime, anywhere - clinic, home, office, travel, hospital, etc. One needs to simply take the test, click a photo using their phone, and results are generated within 30 seconds.
Currently, India has only 10,000 pathology labs for testing, serving a population of 1.3 billion people. However, most of these labs are concentrated in urban areas, making it challenging for the rural population to access them. Additionally, not all of these labs are NABL certified, raising concerns about the quality of machines used in these facilities. The high prices of these tests make it financially infeasible for many people to undergo multiple tests a year. Also there is a risk of sample contamination as well. As a result, many diseases go undiagnosed, preventing timely intervention and prevention.
To address these issues, we provide instant point-of-care testing that delivers results instantly without the usual 2-3 days wait.
- Companies Like healthy.io, vessel health, vivoo, testcard etc are a few companies globally.

We are able to capture 15 parameters which is higher than other products in the market, we also provide instant blood tests while the other products are only focused on urine tests, also we are the only product available in the SEA market.
Currently our GTM strategy is to go B2B where we are partnering with healthcare companies, Insurtech Companies, Pharma companies, Doctors, Hospitals, Clinics and Governments as well since our tests can be used by them for screening larger masses and then track progress of treatment with real world labelled data being generated.

Addressable market size in USD: 40 bil (Source)


Our Customers are Doctors, hospitals, clinics, Healthcare companies, insurtech companies, pharma companies, Governments. We are conducting successful pilots with many companies and building strong case studies. Using these case studies as refernce we are partnering attracting more customers.
Current in next 2 years we are going to be expanding in
1) Products: Currently we have commercialized our instant urine test kits, soon we'll be launching our blood based test as well like Hba1c, Hb, Hiv, malaria, dengue, ferritin, vitamin D etc.

Financing Stage:

Seed:
Raised money:  2500000 USD
Valuated at:  10000000 USD
Investor:  Omidyar Nework,
Closing Date:  01/2022
Current Revenue:
Current Year:  600000 USD
1 year ago:  100000 USD
2 years ago:  25000 USD
3 years ago:  100 USD
Next year expected revenue:
15000000 USD
Development Stage:
Post-revenue
Аre you in currently in an open Investment round?
No
Team member 1: Nikunj Malpani
Position: Co-founder/ CEO
LinkedIn Profile: View Profile »
Bio: Nikunj completed his engineering from IIT Bombay with a minor in Management.
Post-graduating, he was a consultant at Bain, helping business across pharma,
retail, e-commerce and IT with topline improvement, operations excellence and cost optimization. At Neodocs, he leads business development, strategy, sales
and marketing
Team member 2: Anurag Meena
Position: Co-founder/COO
LinkedIn Profile: View Profile »
Bio: Anurag has run 2 startup ventures previously, CareNx (pregnancy care platform) & Dynasense Technologies (medical device design and development). Developing a keen interest in healthcare early in college led Anurag to start his first venture during his pre-final year. He has won numerous national level accolades for the same. At Neodocs, he handles test development , operations, R&D and testing.
Team member 3: Pratik Lodha
Position: Co-founder/CTO
LinkedIn Profile: View Profile »
Bio: At IlT Bombay, Pratik pursued a minor In Computer Science. During his time Incollege, Pratik helped multiple startups set-up their tech, honing his development
skills in the process. After college, Pratik worked with PwC US advisory - helping
leading US banks with credit card fraud detection models using AI/ML. Post this, he
had a stint at Astarc Ventures, an India-based venture fund. At Neodocs, he leads
computer vision, software and algorithm development.