Dozee, a contactless remote patient monitoring & AI-based early warning system firm, has raised $6 million in a Series A2 funding round. New and existing investors contributed to the investment, including the State Bank of India, J&A Partners Family office, and Dinesh Mody Ventures.
Bengaluru-based Dozee plans to use the funds to strengthen its R&D capabilities, expand in the Indian market, and explore global opportunities. The Contactless Vital Signs Measurement system, the flagship product of Dozee, recently received US FDA 510(k) clearance and complied with all applicable global standards for medical devices and algorithms.
“We plan to tap over 2,000 hospitals in more than 100 districts in the next two years to improve the quality of critical care facilities in India,” Mudit Dandwate, CEO & Co-founder of Dozee, said. “The current Series A2 fundraise is a part of the company’s plan to further its reach to every nook and corner of the country and to begin the era of ‘Made in India’ products in the global market.”
“Our growth momentum demonstrates accelerating progress toward our goal of making ‘HarBedDozeeBed’ the future of Indian healthcare Infrastructure,” he added.
Dozee already has a presence in more than 380 hospitals across 50 districts. It most recently worked with British International Investment, a development finance institution and impact investor with headquarters in the UK, to connect 6,000 hospital beds in around 140 public hospitals across India and other regions with its technology.
With Dozee’s technology, healthcare professionals can remotely monitor patients’ vital parameters and identify trends through its early warning system, enabling timely medical intervention. It integrates sensors under the mattress to capture, without physical contact, the minute vibrations caused by every heartbeat, respiration cycle, tremor, seizure, and change in posture.
Dozee makes technology that automates patient monitoring. It was founded in 2015 by IIT graduates Mudit Dandwate and Gaurav Parchani. It claims to save nearly 2.5 hours of nursing time every day per patient.