Homegrown healthtech startup Dozee plans to enter US market
Dozee, which offers remote monitoring devices, will look at entering multiple geographies, including the US, Dubai, and Abu Dhabi.
Dozee, the homegrown healthtech startup that provides remote patient monitoring services, has firmed up plans to enter into overseas markets like the US and the Middle East.
“We were very clear from day one that we will not be an India-only company, we want to be a global company. The US will be the next big opportunity,” said Dozee Co-founder and CEO Mudit Dandwate in an interaction with YourStory.
Founded in 2015, Dozee's healthtech platform is now present in over 370 hospitals in India, covering around one million patients.
According to Dandwate, there is a significant opportunity for Dozee in markets like the US, Abu Dhabi, and Dubai. The startup is already present in the US at transition care facilities, a step below hospitals.
Dozee expects the formal entry into the US market in a year’s time after receiving the regulatory approvals.
Dandwate said, “We have created a brand and there is a level of trust among our customers.”
The startup also recently unveiled Dozee Shravan, an AI-enabled remote parent monitoring service. Targeted at the non-resident Indians (NRIs) community, this technology platform keeps a check on the key human body parameters and provides real-time alerts in case there are deviations to ensure timely medical intervention.
According to Dandwate, the advent of COVID-19 and its aftermath saw the market opening up for digital health technology platforms, especially in the area of remote patient monitoring.
He said, “We are present in 33 Indian cities and plans are to go deeper into the market.”
Dozee recorded a growth rate in the range of 400-500% over the last three years and the CEO claimed that it is very close to achieving profitability. In 2021, Dozee raised Rs 44 crore ($5.4 million) in a Series A funding round led by existing investor Prime Venture Partners, with the participation of YourNest Venture Capital and 3one4 Capital. In 2023, the company raised $6 million from a clutch of new and existing investors.
As part of its future plans, Dozee is looking at reaching out to 5 million people under its fold over the next three years. Dandwate said the startup remains well-capitalised for now and will look at fundraising once the US foray plans are firmed up.
Edited by Kanishk Singh
