Startup & Entrepreneurship
NephroPlus raises 100 crore in Series C funding
Aiming to expand to 500 centres over the next five years, dialysis provider NephroPlus has raised Rs 100 crores in a Series-C funding, led by Mumbai-based private equity firm SeaLink Capital Partners and existing investor International Finance Corporation, a member of the World Bank Group.
As a part of the deal, SeaLink Capital now has a minority stake in the company with its managing partner Heramb Hajarnavis join as the board of directors on NephroPlus.
Vikram Vuppala, the founder of NephroPlus said in a statement, “This is the biggest investment we have received so far… We are looking at expanding aggressively and also plan to open centres internationally within the next one year.”
“The manufacturer of dialysis machines is coming up with innovative financing schemes, with a pay-as-you-use model, which, along with the current funding, our accruals and the debt round with Sidbi, will help us reach our goal of 500 centres in the next five years,” added Vuppala.
Currently, the venture has almost 100 dialysis centres. The aim is to provide over four-million treatments per year and create around 5,000 skilled health-services jobs.
Heramb Hajarnavis said in a statement, “The team has scaled up their network of dialysis centres over the last few years while retaining a sharp focus on the quality of care,…We look forward to working with them as they further expand their presence across India and address a crucial healthcare need for millions of people.”
There are around 12-15-lakh ESRD (End Stage Renal Disease) patients in India with 1-1.5 lakh new cases getting added every year. It is further being fuelled by increased incidence of diabetes and hypertension.