Highlights
Prantae Solutions Secures Rs 5 Crore in Seed Funding
Deep-tech company Prantae Solutions has successfully secured Rs 5 crore in a seed funding round spearheaded by the IAN Group. Additional investments came from notable participants including IAN Alpha Fund, Samir Kalia, Deepank Kumar, and Nitin Zamre.
The newly acquired funds are earmarked for:
- Launching complementary diagnostic solutions for kidney health and diabetes care
- Enhancing the existing product portfolio
- Investing in research and development
Founded in 2015 by Sumona Karjee Mishra and Aseem Mishra, Prantae is primarily focused on deep-tech, prioritising robust intellectual property and unique products. The company’s mission is to bring inclusivity and empowerment to healthcare by delivering next-generation diagnostic innovations.
Innovative Solutions for Medical Accessibility
The Bhubaneswar-based firm is dedicated to overcoming challenges related to medical accessibility by creating advanced point-of-care solutions that provide:
- Accurate
- Timely
- Actionable insights
Prantae Solutions is noted for its innovation, which facilitates early detection and proactive management of chronic illnesses.
Market Overview
Market research indicates that the point-of-care (POC) diagnostics sector in India, valued at approximately $1.41 billion in FY2024, is expected to expand at a compound annual growth rate (CAGR) of 8.47%, reaching around $2.71 billion by FY2032. On a global scale, the market is projected to increase from $30.87 billion in 2023 to $51.19 billion by 2032.
Flagship Product: Proflo-U
Prantae’s leading product, Proflo-U, facilitates kidney health assessments with an unmatched detection range for microalbumin to proteinuria levels. Utilising proprietary nanosensors, IoT, and AI technology, it provides:
- Calibration-free testing
- Cost-effective solutions
- User-friendly testing
These features are designed to enhance patient outcomes and decrease healthcare costs.
Future Aspirations
Prantae aspires to establish a robust domestic presence before venturing into international markets. The company is keen on developing highly differentiated point-of-care products, aiming to revolutionise healthcare diagnostics and improve accessibility for millions around the globe.
