Noccarc, a pioneering medical devices startup, has recently made headlines in the healthcare industry by securing a significant US$2 million investment in a funding round led by Indian Angel Network (IAN). The round also saw participation from esteemed institutions including IIT Kanpur, SIDBI (Small Industries Development Bank of India), and TDB (Technology Development Board), along with Mr. Sunil Munjal, Chairman of Hero Enterprises, emerging as a notable investor.

Specializing in the development and manufacturing of high-value critical care medical equipment such as ICU Ventilators and Patient Monitors, Noccarc is setting new standards in the healthcare technology landscape. In addition to its hardware offerings, the company provides a digital platform empowering doctors to remotely access device data, digitize records, and plans to integrate AI-based services in the future.

With a robust research and development unit driving innovation, Noccarc has ambitious plans to expand its product portfolio beyond critical care solutions. Currently holding seven patents, with 19 additional patents filed for its innovative technologies, the company recently obtained a license from CDSCO (Central Drug Standard Control Organization) authorizing the manufacturing and sale of regulated products in India.

The USD 2 million investment infusion will play a pivotal role in accelerating Noccarc’s growth trajectory and further diversifying its product range. The funding round is earmarked to bolster research and development initiatives, facilitate market penetration, strengthen customer support, and establish a robust sales and distribution network across major cities.

Having already supplied over 3,600 ventilators across India and forged partnerships with a diverse array of hospitals, Noccarc is now poised to expand its footprint globally. Leveraging technology and capitalizing on the “China+1” tailwinds along with government incentives for domestic manufacturers, the company aims to become a leading player in the global healthcare market.

Harshit Rathore, Co-founder, and CTO of Noccarc, emphasized the vast potential of the Indian medical devices market, which is projected to grow to USD 50 billion by 2030. Rathore highlighted the critical need for IP-based products, robust R&D, and adherence to global quality standards to penetrate international markets successfully. He reiterated Noccarc’s commitment to delivering high-quality, world-class products at competitive prices, positioning the company for global success.

Padmaja Ruparel, Co-founder of IAN, lauded Noccarc’s innovative contributions to the healthcare sector. With installations at over 650 hospitals, Noccarc is not only expanding its client base but also developing a portfolio of smart ICU-focused devices, leveraging internet connectivity for both patients and healthcare providers.

The involvement of esteemed institutions such as IIT Kanpur, SIDBI, and TDB underscores the industry’s recognition of Noccarc’s commitment to driving advancements in healthcare technology. Furthermore, the collaboration with Sunil Munjal of Hero Enterprises strengthens Noccarc’s position and opens avenues for strategic partnerships and future growth opportunities.

In conclusion, Noccarc’s recent funding milestone and strategic partnerships underscore its potential to revolutionize critical care and reshape the global healthcare landscape. With a relentless focus on innovation, quality, and customer satisfaction, Noccarc is poised to emerge as a key player in the rapidly evolving healthcare technology sector.

By Admin

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