Sunday, 14 June 2020

Crimson Healthcare, a Med-Tech startup, raises funding from Mumbai Angels Network

Crimson Healthcare, a Med-Tech startup, raises funding from
Mumbai Angels Network
Crimson Healthcare, a med-tech company has raised a funding of INR 1.75 Cr from Mumbai Angels Network. Crimson healthcare was founded in 2015 and is headquartered in Delhi.
Crimson Healthcare is focused on improving ostomy care. It aims to improve the lives of ostomates globally who defecate in a bag hanging from their abdomen. Crimson has developed an ostomy management device, SphinX which is a soft and pliable insertable port and provides a safe, secure and discreet solution to stoma management while restoring continence to the patient.
Founded by Pranav Chopra and Neeraj Kumar both alumni of Stanford India Biodesign with an aim to innovate cutting edge solutions for various problems in the healthcare system with advanced engineering and technologies. Crimson is supported by Indo US Science and Technology Forum and the Department of Biotechnology through their Biotechnology Ignition Grant (BIG).

The technology has been developed under the School of International Biodesign, a Department of Biotechnology, Govt. of India supported collaborative programme between All India Institute of Medical Sciences, Indian Institute of Technology-Delhi and International Partners and licensed to Crimson Healthcare by Biotech Consortium India Limited, New Delhi.
Pranav Chopra, co-founder of Crimson Healthcare said, "Mumbai Angels Network has been very supportive through the whole process of raising funds. With these funds, we plan to bring about significant changes by expanding our research and taking our product to the market and into the hands of our patients"
Here's what MA Investor Ridham Gada said, “Crimson looks promising to help humans with the medical device they have manufactured. It will help many people going through Colonal Cancer operation and live normal life again."
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network commented, “We’re delighted to have Crimson Healthcare in our expanding portfolio of healthcare and lifesciences sector. We believe this innovation is definitely going to bring change in the lives of ostomates. We recently launched LifeSciences Vertical, a network within a network for various Pharma/Healthcare companies and start-ups’ from the LifeSciences sector on our Investment Platform.”
About Mumbai Angels Network: 
Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur and Chennai). It has a 140+ strong portfolio with 45+ exits and has invested 150+ crores.

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