Mumbai Angels Network has invested an amount of Rs. 1.75 crore in medical technology startup Crimson Healthcare.
It is a Delhi based startup that was jointly founded by Neeraj Kumar and Pranav Chopra. The two enthusiasts are alumni of Standford India Biodesign. Their company dedicatedly works on bettering ostomy care. They look forward in improving the lives of people that use ostomy to defecate. It is a pouching system which is a medical device that is surgically
placed on the body for the collection of waste from the body. Their company has come up with SphinX, which is an ostomy management system that is a very soft and flexible port which provides an easy and safe solution for stoma management.
Co-founder of Crimson Healthcare, Pranav Chopra, said that Crimson Healthcare looks forward to using these funds to bring about major changes in their research and to commercialize their product by making it available to the ostomates. The startup is focused on helping people with this medical device that they have developed. It will help people that have undergone the operation for colon cancer to have a normal life again.
Crimson is supported by the Department of Biotechnology through their Biotechnology Ignition Grant (BIG) and the Indo-US Science and Technology Forum.
Mumbai Angels Network was founded in 2006 and has a 140+ portfolio with 45+ exits. They have invested more than Rs 150 crore. The network today is spread in cities of Mumbai, Bengaluru, Delhi, Kolkata, Goa, Pune, Hyderabad, Jaipur, and Chennai.
Ostomy is painful, but with advanced ostomy care, patients would definitely feel better. It is amazing that Crimson Healthcare has received the funds that will help in commercializing their product, which will definitely be a boon to the ostomates and help them regularize their lives.
