Prantae Solutions, a deep-tech company, has secured Rs 5 crore in seed funding, with the IAN Group leading the round and participation from investors including IAN Alpha Fund, Samir Kalia, Deepank Kumar, and Nitin Zamre.
Prantae Solutions stated in a press release that the new funds will be utilized to introduce complementary diagnostic solutions for kidney health and diabetes care, expand their product portfolio, and invest in research and development.
Prantae, founded in 2015 by Sumona Karjee Mishra and Aseem Mishra, is a deep-tech company that focuses on developing robust intellectual property and creating unique products. Therefore, the mission of this company is to revolutionize healthcare through all-inclusive approach and powering empowerment by next-generation diagnostic innovations.
The Bhubaneswar-headquartered company, thus, targets removing barriers of accessibility in healthcare with innovative advanced point-of-care solutions that present correct, time- and action-appropriate information. It stands for innovation towards the early identification and proactive management of chronic diseases.
According to market research, the POC diagnostics market in India, which stood at $1.41 billion in FY2024, is expected to grow at a CAGR of 8.47% and reach $2.71 billion by FY2032. The global market is expected to grow from $30.87 billion in 2023 to $51.19 billion by 2032.
Prantae's flagship product, Proflo-U, revolutionizes kidney health assessment with its unparalleled detection range for microalbumin to proteinuria levels. It utilizes proprietary nanosensors, IoT, and AI technology for calibration-free, affordable, and easy-to-use testing solutions directed at improving patient outcomes and lowering healthcare costs.
Prantae is looking to consolidate its presence in the domestic market before expanding into international markets. The company will look to develop uniquely differentiated point-of-care products and try to revolutionize healthcare diagnostics for millions of people worldwide.
