BANGALORE, India, March 11, 2021 /PRNewswire/ — 4baseCare, an Illumina Accelerator backed precision oncology start-up, has raised an investment of USD 2M, led by investors Mount Judi Ventures, growX Ventures, Season Two Ventures, First In Ventures and a few strategic angel investors. The investor group has a strong understanding of healthcare & technology and focuses on creating social impact through their investments.
4baseCare aims to make precision oncology a standard of care in Asia by increasing the utilization of genomic tests in oncology and is working towards developing a first of its kind, Indian population specific gene panel that will analyze a large number of genes for cancer-associated mutations to identify optimal treatment options leading to improved outcomes.
With an annual cancer burden of 1.5 M+ across the country, these genomic tests are available to very few patients who can afford such tests. This is because of the current available test which is primarily sourced from foreign companies and are exorbitantly priced. The need of the hour is the development of affordable and indigenous solutions which can benefit more patients.
4baseCare will utilize the funds for expansion of the genomic tests portfolio and for increasing their geographical presence across Asia. Additionally, it will also focus on strengthening its R&D and operations.
Hitesh Goswami CEO, 4baseCare says, “Access to advanced technology, which can help improve treatment and care should be for everyone. Our vision is to leverage on technology to develop affordable solutions to personalize patient care in Oncology”.
Kshitij Rishi, COO 4baseCare says, “With this capital, we will be increasing the affordability of our genomic test portfolio through research and process efficiency. With our comprehensive solutions and global collaborations, we are confident that we will make precision medicine a standard of cancer care in our country”.
Mr. Sherif Kottapurath, Managing Partner of MJV and Ex-CTO of Sun Microsystems says, “We are delighted that 4baseCare, with its innovative and life-critical suite in precision oncology, is the second investment by Mount Judi India Growth Fund in the healthcare vertical. We are happy that in this funding round, 4baseCare was able to attract a strong consortium of investors from India and USA, which will fuel its growth across and beyond India“.
Manu Rikhye, Partner at growX Ventures said “Cancer is the second most common cause of death in India and 4baseCare is leading the charge to fight it. 4baseCare team is leveraging its deep expertise in genomics to enable timely cancer diagnosis, and help identify the most precise targeted therapies to significantly improve patient outcomes. We look forward to working with this exceptional founding team as they work towards making India healthier”.
Sajan Pillai, CEO and Managing Partner of Season Two Ventures said, “Genomics and other data capabilities are now redefining life sciences. Their quest to make precision oncology more affordable and accessible contributes greatly to the growing biotech space in India & globally & we are extremely happy to support them in their journey.”
About Mount Judi Ventures
Mount Judi Ventures (MJV), a boutique fund house founded by successful entrepreneurs and experienced professionals, was the lead investor of this round. It aims to invest in innovative Indian start-ups in the early growth stage across MedTech / Healthcare, EduTech, Digital / IoT, Food, and CleanTech, and offers equitable terms to both the investors and entrepreneurs.
About growX Ventures
growX is a B2B and DeepTech focused early-stage venture fund which works closely with investee firms at both strategic and operational levels to drive scale and success. Its investments are focused on pre-seed and seed stages across a wide range of sectors. growX has invested in 35 companies like Fynd, Locus, Mad Street Den, Pixxel, Progcap, Wellthy, and Zipolan, among others.
About Season Two Ventures
Season Two Ventures is an early-stage venture fund based in Southern California investing in B2B companies in both the US and India. The fund seeks to generate value by identifying large scale problems, finding companies to solve those problems, and creating a pipeline of customers upon investment. The current fund focuses on four industry verticals: healthcare, fintech, supply chain, and energy tech.
4baseCare is engaged in the development of affordable and accessible precision oncology solutions, using advanced genomics and next-generation digital health technology, to personalize patient care in oncology.
With their presence in India and Singapore, 4baseCare is the first Asian healthcare organization backed by Illumina (the Global Genomics leader) through their Illumina Accelerator program.
4baseCare has also been selected for the 2nd Cohort of the AISEA accelerator (Sponsored by Department of Science & Technology, Govt. of India).
Media Contact : SHUBHAM SHARMA, email@example.com, 9886787900, Marketing Manager, 4baseCare
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