Medprime Technologies, a medical device company has announced the successful closing of its pre-series A funding, with investment from renowned investor Ashish Kacholia, co-founder of Hungama Digital.
The funding will used for technological advancements and operational scaling. The raised capital is set to drive Medprime’s growth, with a particular focus on establishing an international market for CILIKA. Additionally, it is also set to accelerate the launch of advanced AI modules to enhance its MICALYS platform in India.
The funding will also enable significant improvements in Medprime’s manufacturing capabilities, boosting both efficiency and production capacity to meet rising global demand.
Medprime is focused on upgrading its manufacturing processes to increase efficiency and scale production. This strategic shift will allow the company to expand its operations and meet the growing needs of healthcare providers worldwide.
“The future of healthcare lies in the convergence of technology and medicine. With Medprime’s approach and their commitment to improving lives, I believe this partnership will lead to significant advancements in medical diagnostics,” said Ashish Kacholia.
Greeshma Unnikrishnan, co-founder of Medprime Technologies, said, “We are thrilled to have Mr. Ashish Kacholia on board. His investment and vision align with our mission to transform healthcare through innovation. With these additional resources, we will enhance our AI capabilities and improve our manufacturing processes, making our solutions even more accessible.”
Founded in 2014 by four biomedical engineering postgraduates from IIT Bombay, Medprime has grown with the support of prominent Indian and global entities. The company is backed by USAID-supported SAMRIDH, managed by IPE Global, and has received BIG and SBIRI grants from BIRAC.
Medprime has been bolstered by partnerships with academic institutions like IIT Bombay, incubators such as SINE and Venture Centre, and organizations like Social Alpha. Venture capital firms such as Lavni Ventures, Riso Capital, Mumbai Angels, and Keiretsu Forum have also recognized and invested in Medprime’s potential. S Dayma & Co was the sole and exclusive legal and financial advisor for Ashish Kacholia on this deal.
Medprime has established a strong presence in digital microscopy, with its devices already being utilized by leading medical colleges and research institutions across India. Renowned institutions such as the All-India Institute of Medical Sciences (AIIMS), Maulana Azad Medical College, Grant Medical College, Banaras Hindu University, IIT Delhi, IIT Madras, Dr. Lal Path Labs, Apollo Diagnostics, and Dr. Rajendra Prasad Central Agricultural University has adopted Medprime’s cutting-edge digital microscopes.
Medprime’s MICALYS is a pioneer in AI-driven healthcare solutions, and the soon-to-be-launched AI modules will further accelerate the company’s mission to enhance medical diagnostics through advanced technology.
