Raising money in today's venture capital environment is no easy feat, but that's exactly what 2070 Health — an India-based healthcare venture incubator — was able to accomplish.
2070 Health recently raised $30 million in seed funding from Boston-based W Health Ventures. With this money, the company plans to do three things:
- Build futuristic healthcare companies from the ground up by helping startup teams rapidly test, launch and secure customers
- Grow its platform by hiring more employees and investing in its tech stack
- Provide a boost to three recently launched companies
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Who Is 2070 Health?
As a healthcare venture incubator, 2070 Health has a detailed validation process that involves in-depth conversations with doctors and patients, clinical studies and go-to-market strategies.
To date, 2070 Health has launched three companies: Elevate Now, a doctor-led weight loss program; Nivaan Care, a pain-management company; and Reveal HealthTech, a digital healthcare provider.
Building a healthcare company is no small task, and that's especially true in India.
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“The healthcare industry is slow to change, relationship-driven, highly regulated and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard,” W Health Ventures President Sunil Wadhwani said. “We invested in 2070 Health to address these challenges that founders face while innovating in healthcare. Via companies launched by 2070 Health, we aim to impact the future of healthcare for 1 billion Indians over the next decade."
What Does The Future Hold?
Moving forward, 2070 Health plans to launch as many as 20 healthcare startups over the next five years. Its goal is to launch companies in healthcare areas where existing solutions are underwhelming and there's a minimum addressable market of 100 million to 300 million users.
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"We prioritize problems where we feel confident about building a 10-times-better solution than what exists today. Our guiding principle is keeping patient experience and results, front and center. I'm grateful to the 100-plus incredible team members of the Studio and our three companies. I’m confident that what we are building will attract the best talent, partners and capital, and together with them, we will transform the way healthcare is delivered in India," said Dr. Pankaj Jethwani, CEO of 2070 Health.
If 2070 Health is successful in reaching its goals, it's safe to say that its impact will be felt in India and beyond.
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