Investors including IAN Alpha Fund, Samir Kalia, Deepank Kumar, and Nitin Zamre participated in a seed funding round led by the IAN Group that saw the deep-tech company Prantae Solutions raise Rs 5 crore.
According to a press release from Prantae Solutions, the new funding will be utilized to improve the company’s product line, invest in R&D, and introduce complementary diagnostic solutions for diabetes and kidney health.
Prantae, a deep-tech company founded in 2015 by Sumona Karjee and Aseem Mishra, places a strong emphasis on unique products and intellectual property. The company wants to use next-generation diagnostic innovations to make healthcare a place of empowerment and inclusivity.
By creating innovative point-of-care solutions that provide precise, timely, and actionable insights, the Bhubaneswar-based company aims to remove obstacles to medical accessibility. It is renowned for its dedication to innovation, which makes it possible to detect chronic conditions early and manage them proactively.
The point-of-care (POC) diagnostics market in India is expected to reach $2.71 billion by FY2032 at a compound annual growth rate (CAGR) of 8.47%, up from its FY2024 valuation of $1.41 billion. The market is anticipated to increase from $30.87 billion in 2023 to $51.19 billion by 2032 on a global scale.
Proflo-U, the flagship product from Prantae, has an unrivaled detection range for microalbumin to proteinuria levels, enabling kidney health assessment. It provides calibration-free, affordable, and easy-to-use testing solutions that are intended to enhance patient outcomes and lower healthcare expenses. It is powered by proprietary nanosensors, IoT, and AI technology.
Prior to entering foreign markets, Prantae wants to build a solid domestic presence. It also aims to improve accessibility for millions of people globally by transforming healthcare diagnostics and developing highly distinctive point-of-care products.
