2070 Health, a healthcare venture studio in India has raised $30 million from W Health Ventures to create a platform that will help healthcare companies to make high-quality healthcare more accessible and affordable in India.
According to a company statement, 2070 Health is creating a venture creation platform that combines validated and de-risked venture ideas, experienced and mission-driven founders, and a seasoned cross-functional team. The platform will help founders to rapidly test, launch, and iterate on their ideas, giving them a greater chance of success than if they were trying to do this on their own.
In the past nine months, 2070 Health has launched three companies including ElevateNow, Nivaan Care, and Reveal HealthTech. It will utilise the newly-infused capital to back these newly-launched companies.
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"Even as India has made tremendous progress in healthcare over the past 20 years in areas such as infectious diseases and maternal health, there are several other areas in healthcare with large unmet needs. The healthcare industry is slow to change, relationship-driven, highly regulated, and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard. The rules of building fast-paced technology start-ups seldom apply when you're dealing with people's lives and the resulting need for regulation," said Sunil Wadhwani, serial technology entrepreneur and President of W Health Ventures.
"We invested in 2070 Health to address these challenges that founders face while innovating in healthcare. Via companies launched by 2070 Health, we aim to impact the future of healthcare for one billion Indians over the next decade,” he added.
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