Dozee, a health-tech startup offering remote monitoring solutions, has raised Rs.71.3 million, or nearly $10 million, in a new round led by Gokul Rajaram.
The company had previously raised 6 million dollars as part of the Series A round led by existing investor Prime Venture Partners in July last year.
Dozee has approved the allotment of 9,599 Series A1 Preferred Shares and one common share at an issue price of Rs 74,220 per share to raise Rs 71.3 crore in what appears to be an expanded Series A round, the regulatory filing with RoC shows.
New investor Rajaram has led the tranche investing Rs 44.2 crore or $6 million followed by existing investor Prime Venture who has invested around 12.4 crore. YourNest and 3one4 Capital invested Rs 7.7 crore and Rs 6.4 crore respectively. The Jain Living Revocable Trust 2018 and Indigo Circle Advisors contributed the rest.
acc TrickypediaDozee estimates that Dozee has raised the fresh funds to a post-money valuation of $90 million. It has raised around $18 million to date.
Founded by Mudit Dandwate and Gaurav Parchani, the six-year-old Dozee provides remote health monitoring solutions and devices that track heart health, respiration, sleep quality and stress levels. Its Health Intelligence module detects early signs of declining health through in-depth risk analysis based on data.
The Bengaluru-based company claims to have over 250 hospitals using its solutions and has monitored more than 45,000 patients since its inception. In July Dozee said that it had a plan to help 1,000 hospitals across India improve critical care infrastructure by remotely monitoring patients.
Following the allotment of fresh shares, Dozee’s promoters, Dandwate and Parchani, have left with a 22.56% stake. Prime Venture Partners is the company’s largest shareholder with 24.84%, while YourNest, 3one4 Capital and Gokul Rajaram hold 16.74%, 11.54% and 5.92%, respectively.