Bhubaneswar-based deep-tech startup Prantae Solutions has raised ₹5 crore in a seed funding round led by the Indian Angel Network (IAN) Group, with participation from notable investors, including IAN Alpha Fund, Samir Kalia, Deepank Kumar, and Nitin Zamre.
In an official statement, Prantae Solutions announced plans to utilize the funds for launching advanced diagnostic solutions for kidney health and diabetes care, expanding its product portfolio, and bolstering its research and development capabilities.
Founded in 2015 by Sumona Karjee Mishra and Aseem Mishra, Prantae Solutions is transforming healthcare with innovative point-of-care diagnostic tools focused on accessibility and inclusivity.
The company aims to deliver timely, accurate, and actionable insights for managing chronic diseases, addressing critical gaps in the healthcare ecosystem.
Its flagship product, Proflo-U, is a groundbreaking diagnostic tool lauded for its exceptional detection capabilities, ranging from microalbumin to proteinuria levels. Built using proprietary nanosensors, IoT, and AI technology, Proflo-U offers calibration-free, cost-effective, and user-friendly testing, enabling more affordable healthcare solutions with improved patient outcomes.
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Prantae Solutions is also recognized for its robust intellectual property and unique offerings tailored to improving healthcare accessibility.
The company plans to strengthen its domestic presence before exploring international markets, emphasizing its highly differentiated diagnostic solutions.
The point-of-care diagnostics market in India is witnessing rapid growth. Valued at $1.41 billion in FY2024, it is projected to reach $2.71 billion by FY2032, with a CAGR of 8.47 percent.
Globally, the market is anticipated to grow from $30.87 billion in 2023 to $51.19 billion by 2032, underscoring the significant potential for innovation in this sector.
