Cloudphysician raises $4 Million Pre Series A Funding from Elevar Equity

Healthtech solutions provider Cloudphysician has raised $4 Million Pre Series A funding from Elevar Equity to expand their global footprint and invest in commercial, medical, technology and data science talent. The company annotated that it will use the funding to provide for skilled critical care specialists in remote locations of India and other emerging markets.

Cloudphysician has earlier worked with hospitals to assist them with teams of intensive care experts and proprietary ICU management cloud platform, RADAR to manage critically ill patients remotely in real-time. This, as the company suggests, highly improved the medical output and the level of treatment provided to the patient.

Commenting on the company’s approach to provide clinical care by combining expertise and technology, Dr. Dhruv Joshi, Co-founder, Cloudphysician, said, “Access to quality critical care cannot be solved with just a digital platform or hiring an ICU consultant (or intensivist), rather, it needs a holistic solution combining both clinical expertise and technology tailored to the respective hospital environment. Cloudphysician’s approach is based on hundreds of hospital visits across the world and promises to alter the existing paradigm by delivering outcomes for patients, championing the needs of caregivers and driving strong return on investment for our partner hospitals. We are delighted to have the backing and support of Elevar Equity on this journey of expanding critical care access globally.”

Elucidating on the primary reason behind raising funds for Cloudphysician, Sandeep Farias, Founder & Managing Partner, Elevar Equity, shared, “Cloudphysician’s tele-ICU services and proprietary tech solution make timely access to quality critical care a reality for people in Tier 2 / 3 cities, rural India and beyond. Dhruv and Dileep are passionate founders who lead a committed crew of medical experts, technologists, researchers and data scientists. We are excited to be equity partners in this journey.”

The company further added in a statement that it has witnessed 50% increase in revenue and contributed to 40% decline in mortality rate by partnering with healthcare providers, governments, and experts to realize the larger vision of a highly interconnected multi-disciplinary high acuity care delivery network. It further aims to enhance the delivery of its services with this round of funding.

Cloudphysician is currently managing ICUs in 40 hospitals across 15 states, treating more than 30,000 critically ill patients since 2017.