Bengaluru-based healthtech startup 4baseCare has successfully raised $6 million (approximately INR 50 crore) in a Series A funding round led by Yali Capital. The funding round also attracted participation from several undisclosed investors.
The fresh capital will be used to expand 4baseCare’s product offerings, particularly in genomics and digital health solutions. Additionally, the company plans to extend its global footprint by targeting markets in Asia and the Middle East.
As part of its expansion strategy, 4baseCare is establishing genomics laboratories in the Philippines, Nepal, and Dubai, according to a statement released by the company.
Founded in 2018 by Hitesh Goswami and Kshitij Rishi, 4baseCare focuses on developing precision oncology solutions that leverage advanced genomics and next-generation digital health technology. Precision oncology is a tailored approach to cancer treatment, offering therapies specifically designed for each patient’s unique cancer type.
In 2021, the company raised $2 million in a Pre-Series A funding round to enhance the utilization of genomic tests in oncology. At that time, co-founder Hitesh Goswami noted that while many companies in the field offer diagnostic tests based on global genomics data, genomics-based cancer care remains a small part of their larger portfolios.
This latest development comes at a time when healthtech startups focused on cancer care are gaining significant interest from investors in India. For instance, biotech startup Immuneel Therapeutics recently secured $12 million (approximately INR 100 crore) from Taiba Middle East FZ LLC, while Icanheal raised INR 15 crore (around $1.8 million) in a seed funding round to provide customized healthcare financing solutions for cancer patients.
The rising interest in cancer care solutions is underscored by alarming statistics from the National Centre For Disease Informatics And Research (NCDIR), which reports that approximately one in nine people in India is expected to face a cancer diagnosis during their lifetime. In 2022, the projected number of new cancer cases in India was 1,461,427, with an incidence rate of 100.4 per 100,000 individuals.
