In a key move, Unicorn India Ventures declared a partial exit in Sascan Meditech, a Thiruvananthapuram, India-based healthcare startup. This partial exit fetched the venture capital firm returns of six times the invested amount.
PC: Startagist
Founded in 2015 by Subhash Narayana, Sascan Meditech develops affordable healthcare products and solutions, especially in the sphere of cancer care. This startup utilizes the power of biophotonics and related technologies to manufacture medical devices for the early detection of cancer. It has two flagship products: OralScan and CerviScan. OralScan is a multi-modal imaging device developed for non-invasive, real-time oral cancer screening. On the other hand, CerviScan is developed to replace traditional digital colposcopes for cervical cancer screening.
Investment Journey of Unicorn India Ventures
Unicorn India Ventures invested an initial amount of INR 2 crore across two rounds in Sascan Medotech starting from 2020. Despite the participation in this partial exit, UIV still holds a significant stake in the company and is, hence, showing continuous confidence in Sascan’s potential.
The Financial Impact
The partial exit has been quite rewarding to UIV, returning about 6X of its investment. ThisUNDERSCORES the potential that investing in innovative health solutions, more so in critical health issues like detection and care for cancer, can bring.
Reaction of Key Players
Anil Joshi of Unicorn India Ventures also came out to commend Dr. Subhash Narayana for his dedication to the merger of technology with a cause. According to Joshi, Sascan’s solutions are tailored to help underprivileged populations in India and other developing countries by facilitating early detection of cancer. This mission aligns with UIV’s general investment strategy, which places key focus on those sectors that have the greatest potential for government intervention and regulation.
UID’s Broader Investment Strategy
Founded in the year 2015 by Bhaskar Majumdar and Anil Joshi, Unicorn India Ventures has a history of bold investments. Currently, this firm is raising its third fund, targeting INR 1,000 crore in total. What normally sets UIV apart is its guts to invest in Tier II cities—what very few venture capital firms have dared to do until now in Cochin, Trivandrum, Hyderabad, Jaipur, Pune, and Goa.
This was explained earlier by Majumdar, who said that whatisplayed big opportunity in India would be something that gained the trust of the government. That had been an investment Mantra for UIV, and it has leaned toward start-ups operating within regulated sectors or wherever the interference from the government could prove to be immense.
Future Prospects
Success from Sascan Meditech lays the foundation of trust, and partial exit with hefty returns makes the case for the viability of UIV’s investment approach. Focussed on the development of solutions for serious current healthcare needs, UIV has succeeded in realizing financial returns while moving up the social well-being priorities index simultaneously.
Earlier this year, UIV led the Series A funding round for Piscium, a nanotech medical startup, further attesting to their interest in the development of medical technology. With continuous fundraising and investment in overseas startups with great potential, the effect and impact on healthcare and other highly regulated sectors are likely to only grow.
The partial exit of Unicorn India Ventures from Sascan Meditech is a potential gain from investments in healthcare innovative solutions. UIV, with a 6x return, does more than bring financial success; it has supported a start-up dedicated to social change. With ongoing fundraising and investments in promising sectors, their role in shaping the future of healthcare and other regulated industries will be a key one.
