Cancer-Focussed Healthtech Startup 4baseCare Gets Infosys Backing, Will Receive $1 Mn

4baseCare

Three points you will get to know in this article:

  • Infosys Innovation Fund will buy an undisclosed number of Series A compulsory convertible preference shares (CCPS) of the healthtech business.
  • Infosys intends to use 4baseCare’s skills to help its clients traverse their business transformations.
  • Founded in 2018, 4baseCare uses advanced genomics to create personalized care for cancer patients.

Infosys Invests Almost $1 Million In Healthtech Startup 4basecare

4baseCare logo

Infosys is investing INR 8.3 crore (almost $1 million) to acquire a minority share in healthtech firm 4baseCare.

Hitesh Goswami and Kshitij Rishi founded 4baseCare in 2018, which uses advanced genetics and next-generation digital health technology to provide patients with personalised oncology (cancer-related) care. The business claims to have created a unique set of comprehensive genetic panels that enable oncologists to select the best targeted medication for their patients.

In an exchange filing, Infosys stated that the acquisition will be carried out through its venture capital arm, Infosys Innovation Fund. In lieu of the investment, the Fund will acquire an undisclosed amount of the startup’s Series A compulsory convertible preference shares (CCPS).

“Infosys Innovation Fund seeks to partner with AI and deeptech startups such as 4baseCare to complement its capabilities and jointly co-create next-generation solutions bringing the power of innovation to help Infosys’ clients navigate their business transformation,” according to a filing with the SEC.

4baseCare Total Funding, Funding Rounds

This comes just four months after 4baseCare received $6 million in a Series A investment headed by Yali Capital.

In 2021, 4baseCare raised $2 million in its pre-Series A financing.

Indian Healthtech Startup Ecosystem and Healthtech Funding Recently

The fundraising comes at a time when the Indian healthtech startup ecosystem is gaining traction and pace as investors gamble on fresh solutions to address healthcare concerns.

In September, Redcliffe Labs, situated in Delhi NCR, raised $42 million in a Series C fundraising round spearheaded by the Danish Investment Fund for Developing Countries (IFU).

In July, B2B healthtech platform Watch Your Health closed its Series A round at $5 million, including funding from India’s Cornerstone Ventures and Singapore’s Conquest Global.

However, it is important to note that the industry has been a laggard in the entire Indian startup ecosystem, raising only $7 billion between 2014 and the first half (H1) of 2024 through 886 deals.

Manvendra Hada

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