MOC Cancer Care & Research Centre Secures $18 Million in Funding
MOC Cancer Care & Research Centre, a prominent network of community cancer centres, has successfully secured $18 million in funding, with Elevation Capital leading the investment round. Previously, MOC Cancer Care raised $10 million from Tata Capital Healthcare Fund in January 2023 to enhance its operational scope and technological advancements.
The funds acquired will be utilized to bolster operations, establish new centres, and widen the variety of services available, as stated by the Mumbai-based enterprise. MOC primarily operates in the daycare oncology sector, concentrating on chemotherapy and medical management of cancer.
Founded in 2018 by a group of oncologists including Dr Ashish Joshi, Dr Kshitij Joshi, Dr Pritam Kalaskar, and Dr Vashishth Maniar, MOC has evolved from an idea into a successful enterprise, creating a chain of community cancer centres aimed at simplifying the cancer journey for patients. Their approach focuses on essential factors such as accessibility and cost-effectiveness.
Over the last seven years, MOC claims to have provided treatment to more than 4.5 lakh cancer patients, supported by a skilled team of 47 oncologists and scaling its operations to a total of 24 centres across Mumbai, Pune, the rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh.
In May 2024, MOC expanded its service offerings through a strategic partnership with Hemato Oncology Clinic (HOC), which is recognized as the second-largest independent network of community cancer care centres in India. This merger has enabled the company to extend its services into the state of Gujarat. MOC is also planning to broaden its presence in Delhi NCR and other regions of India, while developing a molecular oncology laboratory.
Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, announced his departure from the venture capital firm after a 14-year tenure, as he aims to concentrate on advisory roles and mentorship. In October of the previous year, the company elevated Vaas Bhaskar and Chirag Chadha, who held positions as Principals at the VC firm, to the role of Partners.