 "Fundraising via QIPs gains traction in '24 market")
Venture capital fund Tomorrow Capital on Tuesday said it has led a USD 2.7 million (over Rs 20 crore) fundraise for VitusCare, a kidney care startup based in Gurugram.
In addition to Tomorrow Capital's contribution, the Series A funding round saw participation from existing investor 1Crowd, alongside support from 3i Partners and a consortium of angel investors, totalling approximately USD 5 million in funding across all the funding rounds, the company said in a statement.
The fresh capital injection will empower VitusCare to aggressively expand its operations, with a targeted focus on deeper penetration into 'Bharat', it added.
"As the prevalence of lifestyle-related disorders such as diabetes and hypertension continue to rise, the demand for kidney-related services is poised to increase exponentially. VitusCare's innovative approach and impressive growth trajectory align perfectly with our mission to invest in solutions that make a meaningful impact on public health," Tomorrow Capital CEO Rohini Prakash said.
VitusCare has around 30 centres currently operational across North India. It collaborates with existing hospitals to ensure seamless delivery of end-to-end dialysis services, including equipment provision, skilled technicians and patient care.
"Tomorrow Capital's investment marks a significant milestone for VitusCare as we embark on our mission to deliver high-quality, patient-centric care to underserved regions of India. This fundraise will be pivotal in accelerating our expansion efforts and scaling our operations to meet the growing demand for quality dialysis care," VitusCare Co-Founder & CEO Prabhat Shrivastava said.
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