Healthtech Startup Dozee Raises $8 Mn for Global Expansion
In a significant development for the Indian healthtech industry, Bengaluru-based startup Dozee has raised around $8.3 million in a mix of equity and debt funding to accelerate its global expansion plans. The funding round was led by Prime Venture Partners and 3one4 Capital, with Temasek Trust’s impact-first investment vehicle C3H also participating in the round.
Dozee’s innovative sleep monitoring and tracking technology has been gaining traction globally, and this fresh infusion of capital will enable the startup to scale its operations and expand its reach to new markets. The company’s unique approach to sleep monitoring, which uses advanced algorithms and sensors to track sleep patterns, has already shown promising results in improving the quality of sleep and reducing sleep disorders.
According to a report by Inc42, the funding round saw C3H, a Temasek Trust impact-first investment vehicle, infuse ₹6.3 crore in the form of equity in Dozee. The remaining amount was raised through a mix of equity and debt funding from other investors. The exact details of the funding round were not disclosed, but the report suggests that the startup is now well-positioned to achieve its ambitious global expansion plans.
Dozee’s innovative technology has the potential to revolutionize the way we approach sleep and healthcare. The company’s flagship product is a non-invasive, contactless sleep monitoring device that uses advanced sensors to track a person’s sleep patterns, including duration, quality, and stages of sleep. This data is then used to provide personalized insights and recommendations to improve sleep quality.
The startup’s technology has already shown promising results in clinical trials, with users reporting significant improvements in sleep quality and reduced symptoms of sleep disorders such as insomnia and sleep apnea. Dozee’s technology has also been recognized by several industry awards and has been featured in several leading healthcare publications.
The funding round is a significant milestone for Dozee, which was founded in 2016 by a team of entrepreneurs and engineers with a passion for sleep and healthcare. The company has been growing rapidly, with a team of over 50 employees and a presence in several countries including India, the US, and Japan.
The funding round is also a vote of confidence in Dozee’s innovative technology and its potential to disrupt the global healthcare industry. The company plans to use the fresh capital to expand its product offerings, enhance its technology, and build a strong presence in new markets.
In a statement, Dozee’s co-founder and CEO, Rahul Dasari, said, “We are thrilled to have received this significant funding from Prime Venture Partners, 3one4 Capital, and C3H. This funding will enable us to accelerate our global expansion plans and further develop our innovative sleep monitoring technology. Our aim is to make a meaningful impact on people’s lives by improving their sleep quality and overall health.”
The funding round is a significant development for the Indian healthtech industry, which has been gaining traction in recent years. The industry has seen several successful funding rounds and exits, with companies like Practo, 1mg, and HealthifyMe achieving significant success.
Dozee’s funding round is a testament to the growing interest in healthtech startups and their innovative solutions. The company’s technology has the potential to revolutionize the way we approach sleep and healthcare, and its funding round is a significant milestone in the company’s journey to achieve its ambitious goals.
In conclusion, Dozee’s $8.3 million funding round is a significant development for the Indian healthtech industry, and a testament to the company’s innovative technology and its potential to disrupt the global healthcare industry. With this fresh capital, Dozee is well-positioned to accelerate its global expansion plans and make a meaningful impact on people’s lives.
