Healthtech startup Cloudphysician said it has raised $4 million in its pre-Series A funding from Elevar Equity, an investment firm based in the US, with office in India and Mexico.
The company said in a press release that it will use the funds to expand its global footprint and invest in commercial, medical, technology and data science talent.
Dr. Dhruv Joshi, Co-founder, Cloudphysician, said the company'sapproach is based on hundreds of hospital visits across the world and promises to alter the existing paradigm by delivering outcomes for patients, championing the needs of caregivers and driving a strong return on investment for its partner hospitals.
“We are delighted to have the backing and support of Elevar Equity on this journey of expanding critical care access globally. Access to quality critical care cannot be solved with just a digital platform or hiring an ICU consultant (or intensivist), rather, it needs a holistic solution combining both clinical expertise and technology tailored to the respective hospital environment,” he said.
Sandeep Farias, Founder and Managing Partner, Elevar Equity, said,“Cloudphysician’s tele-ICU services and proprietary tech solution make timely access to quality critical care a reality for people in Tier 2 / 3 cities, rural India and beyond. Dhruv and Dileep are passionate founders who lead a committed crew of medical experts, technologists, researchers and data scientists.”
Cloudphysician is a global healthcare technology company that solves the acute shortage of skilled intensivists in the delivery of critical care. The Cloudphysician solution dramatically increases the capacity of intensivists and nurses to care for more critically ill patients in the ICU.
This improves patient outcomes and optimizes utilization of hospital ICU services. Critical care specialists use our proprietary smart-ICU management platform, RADAR, to oversee ICU patients 24/7.
“At Cloudphysician, we are building the world's most accessible critical care technology and service network, and are thrilled to partner with Elevar Equity to realize this shared vision of access, quality, and impact — at scale.” added Dr. Dileep Raman, Co-founder, Cloudphysician
The Indian arm of Cloudphysician manages ICUs in over 40 hospitals in 15 states and has treated more than 30,000 critically ill patients since 2017. Cloudphysician has been successful in empowering the unsung frontline heroes during the pandemic as well, treating more than 5,000 COVID-19 cases.