Cloudphysician, a healthcare and technology solutions provider focused on affordable and quality critical care, has raised $4 Mn Pre Series A funding from Elevar Equity.
Founded by Dr Dhruv Joshi and Dr Dileep Raman, Cloudphysician is on a mission to tackle the problem of the unavailability of skilled critical care specialists in remote locations in India and emerging markets. With this round of funding, Cloudphysician will expand its global footprint and invest in commercial, medical, technology and data science talent.
Collaborating with Cloudphysician gives hospitals access to their robust team of highly experienced intensive care experts and their proprietary ICU management cloud platform, RADARTM to manage critically ill patients remotely and in real-time. This exponentially improves the level of care and quality that hospitals can provide for patients.
Dr Dhruv Joshi, Co-founder of 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.”
Sandeep Farias, Founder & Managing Partner at Elevar Equity, said, “At Elevar, we look to back entrepreneurs building innovative distribution models that can dramatically expand the reach of essential products and services to the mass market. 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 Indian arm of Cloudphysician manages ICUs in over 40 hospitals in 15 states and has treated more than 30,000 critically ill patients since 2017. Cloudphysician has been successful in empowering the unsung frontline heroes during the pandemic as well, treating more than 5,000 COVID-19 cases.
Dr Dileep Raman, Co-founder, Cloudphysician, said, “At Cloudphysician, we are building the world’s most accessible critical care technology and service network, and are thrilled to partner with Elevar Equity to realize this shared vision of access, quality, and impact — at scale. To date, we have successfully equipped healthcare providers with advanced adult critical care support in not only multi specialty hospitals but also medical and surgical focused single specialty hospitals spanning oncology, maternity, gastroenterology, nephrology and additional clinical disciplines, and will immediately expand to pediatric and neonatology critical care offerings.”
In its journey so far, Cloudphysician has already unlocked up to a 50% increase in revenue and a 40% decline in the mortality rate for client hospitals. Having transformed the highly demanding critical care function, Cloudphysician is partnering with healthcare providers, governments, and experts to realize the larger vision of a highly interconnected multi-disciplinary high acuity care delivery network.