Cancer Care Startup Oncare Raises Rs 27 Crore in Funding

Cancer care startup Oncare has successfully secured Rs 27 crore, which is approximately $4 million, in a Series A funding round spearheaded by Sky Impact Capital. This round also welcomed contributions from Huddle Ventures, Lotus Herbal Group, SteerX, and Tremis Capital. Previously, Oncare had garnered $1 million in its seed funding round, led by Huddle Ventures and other investors.

The capital raised will be utilised to extend its reach into new metropolitan areas, along with tier-II and tier-III cities. Additionally, Oncare intends to invest in technological infrastructure to enhance clinical operations, bolster care coordination, and elevate the patient experience.

About Oncare

Founded in 2023 by Amar Sneh and Deepak Kumar, Oncare operates a distributed oncology care platform with a commitment to providing affordable and standardised cancer treatment. The company integrates medical, surgical, and radiation oncology services within accredited hospitals, all while maintaining a capital-efficient model.

Current Operations and Future Plans

At present, Oncare runs four centres across the Delhi NCR region. Within just three years of its inception, the firm has developed a multi-centre oncology platform and is laying the groundwork for nationwide expansion.

Growing Investment in Oncology

Investment deals in the oncology sector have surged in recent years. Recently, 4baseCare acquired Rs 90 crore in a funding round led by Ashish Kacholia and Lashit Sanghvi. Last year, Everhope Oncology secured $10 million in seed funding, while MOC Cancer Care & Research Centre raised $18 million in a funding round led by Elevation Capital. Other notable funded startups in the oncology sector include ErlySign, Oncare, and OneCell Diagnostics.