2070 Health raises USD 30M to build healthcare companies in India

2070 Health, a healthcare venture incubator, has raised $30 million from venture capital firm W Health Ventures to create a platform that will build healthcare companies in India. The funds will also be used to seed the newly-launched companies.

W Health Ventures and 2070 Health share the same co-founding team. W Health Ventures is a US and India-based investor, with 2070 Health acting as its incubator. “The healthcare industry is slow to change, relationship-driven, highly regulated, and complex to navigate for new entrants. As a result, building healthcare companies in India is particularly hard. The rules of building fast-paced technology start-ups seldom apply when you’re dealing with people’s lives,” said Sunil Wadhwani, president of W Health Ventures.

2070 Health, which has created three companies so far, helps founders test, launch, and iterate on ideas. It plans to launch 15 to 20 healthcare companies over the next five years, it said in a statement. The company has built a 40-member team across venture design, product development, and go-to-market verticals that work closely with the founders to achieve scale and impact, it added.

2070 Health said it evaluates potential ideas that address white spaces in healthcare. “Each short-listed concept goes through a stringent validation process involving conversations with doctors and patients, clinical studies, and go-to-market experiments, to arrive at a solution. Nine out of ten ideas are killed at this stage,” it added.

Once the founding team is in place for prioritised ideas, 2070 Health deploys various playbooks across clinical development, product, marketing, omnichannel growth, and enterprise partnerships. Digitisation of healthcare workflows at scale has led to multiple business models in doctor bookings, tele-consultation, epharmacy, and ediagnostics, which was accelerated during Covid. The three companies in the past nine months that 2070 Health has launched are ElevateNow, Nivaan Care, and Reveal HealthTech. Siliconindia