Dozee Secures $10 Million in Debt Funding for Remote Health Monitoring Solutions
Dozee, a prominent healthtech startup, has successfully arranged $10 million (Rs 86 crore) in debt financing from Stockhausen International Pte Ltd. This marks the company’s second debt investment within just four months, following a $7 million funding round in March this year.
The board at Dozee has approved a resolution to issue 7,545 Series B optionally convertible debentures, each with a face value of Rs 1,14,074, to achieve the targeted amount, as outlined in its official filing with the Registrar of Companies (RoC). The funds acquired will predominantly be allocated towards business operations, development initiatives, and lending to subsidiaries based outside of India, as per the filing.
About Dozee and Its Offerings
Established in 2015, Dozee specialises in remote health monitoring solutions via devices that assess heart health, respiration, sleep quality, and stress levels. Noteworthy products include Shravan, an AI-powered device tailored for early hearing detection and rehabilitation, alongside a smart mat placed under mattresses to monitor vital signs such as heart rate, respiration, stress, and sleep patterns.
Growth and Recognition in Remote Patient Monitoring
Dozee stands out as one of the fastest-growing participants in the sectors of Remote Patient Monitoring (RPM) and Early Warning Systems (EWS). Recently, the company achieved the esteemed CE Mark under the EU MDR 2017/745, setting a global standard for the safety and effectiveness of medical devices.
Data from various startup intelligence platforms indicate that the company, which receives backing from Prime Venture Partners, has raised approximately $38 million to date, inclusive of debt, with contributions from investors such as Yournest and 3One4 Capital.
Financial Performance
While Dozee has not yet disclosed its financial performance for FY25, it did report an operating revenue of Rs 5 crore for FY24. The Bengaluru-based firm successfully reduced its losses by nearly 20%, decreasing from Rs 84.4 crore in FY23 to Rs 68 crore.