[Funding alert] Vidcare Technologies raises $300K in Pre-Seed round

Vidcare Technologies, a diagnostic testing startup, has raised $300,000 in its pre-seed funding round from Social Alpha.

Other investors including Lavni Ventures and Derbi Foundation also participated in this round.

The startup plans to use the funds to pursue product development, clinical trials, real-world effectiveness and early commercialization.

Pune-based diagnostic testing platform Vidcare Technologies was founded in 2017 by Rohan Aggarwal, Karan Aggarwal and Saurabh Kumar Srivastava, It develops easy-to-use, portable health tests to make diagnostic testing convenient, accessible and available to anyone, anywhere, anytime.

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The startup aims to become a leading brand in the point-of-care and consumer diagnostics space in India and abroad within the next five years.

"This new round of funding will be used to complete product development and commercialization post regulatory approvals, in addition to working on additional applications on this technology. Our vision is to use the Mu-sure platform to create diagnostic tests to ease access for a wide range of-high-quality diagnostics to both urban and rural areas," said, Rohan Aggarwal, founder, Vidcare.

The startup aims to reach small towns and remote areas through partnerships with public health systems, NGOs and pharma companies.

"At Social Alpha, we are excited about the future of diagnostic medicine, particularly in the field of point-of-care diagnostics. We observe a gradual growth in the decentralization of laboratory test, which means tests and analysis are being performed at the bedside, in-clinic, or by the patients themselves at home. Vidcare's expandable platform will create a portfolio of accurate, easy to use point of care quantitative tests for monitoring health as well as chronic disorders," said Kshama Kothari, director, Social Alpha.

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About Vidcare Technologies

Vidcare Innovations is founded by an alumnus of Indian Institute of Technology, Roorkee. With a team comprising of engineers, scientists and doctors, they are developing an equipment-free, stand-alone, quantitative immunoassay chip, which can be used in resource constrained environments. They envision bringing healthcare to the doorstep, without compromising on quality.  They are a medical diagnostics company that develops products to improve the accessibility of healthcare (diagnostics) services to doctors and patients everywhere. They intend to provide assistance to healthcare professionals in prevention of various medical conditions with convenient and timely access to our easy to use, portable screening device