Delhi : Crimson Healthcare, a Delhi-based medtech startup focused on ostomy care, said that it has raised funding of Rs 1.75 crore from Mumbai Angels Network.
The five-year-old startup was founded in 2015, by Pranav Chopra and Neeraj Kumar, aims to improve the lives of ostomates globally who defecate in a bag hanging from their abdomen. Founders are an alumnus of Stanford India Biodesign and are supported by Department of biotechnology through their Biotechnology Ignition Grant (BIG).
The company has designed a product called SphinX. It is a continent ostomy device that aims to empower ostomates by helping them regain control over evacuation and provides freedom from the problems inherent to existing standard of care, the company said.
Commenting on the funding, Pranav Chopra, Co-founder of Crimson Healthcare, said, “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.”
Seasoned Investor Ridham Gada said, “Crimson looks promising to help humans with the medical device they have manufactured. It will help many people going through colon cancer operation and live normal life again.”
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, shared, “We believe this innovation is definitely going to bring change in the lives of ostomates.”