VitusCare, a Tomorrow Capital-backed kidney care startup, said Tuesday it intends to raise over $10 million (Rs 84.7 crore) in its next funding round as it expands its network of dialysis centres in India and abroad.
In April, the Gurugram-based company raised $2.7 million from venture capital firm Tomorrow Capital and 1Crowd in a Series A round.
For the upcoming round, VitusCare said it is engaging with venture capital firms, healthcare-focused private equity firms, and impact investors.
The company said it intends to triple its network of dialysis centres within the next 12 months, after doubling its footprint in the past seven months since its Series A round. This, it said, is to target "underserved" regions. It also intends to invest in upskilling the dialysis technicians, paramedics and other clinical staff.
“Our next challenge is to shift into hyper-growth mode, targeting an enhanced footprint and doubling our monthly dialysis sessions,” Prabhat Shrivastava, co-founder and CEO at VitusCare, said in a statement.
The company claimed it is on track to triple its footprint by March 2025 and achieve Rs 100 crore in annual recurring revenue (ARR) before March 2026.
VitusCare was founded in 2017 by nephrologist Saurabh Pokhariyal, Prabhat Shrivastava, and Pankaj Tandon.