Crimson Healthcare, a medtech startup has raised Rs 1.75 crore from Mumbai Angels Network in a funding round. The firm was founded in 2015 by Pranav Chopra and Neeraj Kumar, alumni of Stanford India Biodesign. It aims to improve Ostomy care with the help of its ostomy management device, SphinX which is a soft and pliable insertable port and provides a safe, secure and discreet solution to stoma management while restoring continence to the patient.
The main objective behind the startup is improve the lives of ostomates globally who defecate in a bag hanging from their abdomen. Pranav Chopra, Co-founder of Crimson Healthcare, said in a statement, “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.”
Started in 2006, Mumbai Angels Network (MA Network) has a 140+ portfolio with 45+ exits and has invested over Rs 150 crore. The network boasts a membership of over 450 in nine cities across India including Jaipur, Mumbai, Delhi, Bengaluru, Kolkata, Hyderabad, Goa, Pune and Chennai.
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network said, “We’re delighted to have Crimson Healthcare in our expanding portfolio of healthcare and life sciences sector. We believe this innovation is definitely going to bring change in the lives of ostomates.”