Pune-based startup Noccarc raises $2 M from IAN & others
13 February 2024 | News
Accelerating Noccarc's growth and expanding its product portfolio
image credit- shutterstock
Noccarc, a Pune-based medical devices startup, has raised $2 million in a recent funding round led by Indian Angel Network (IAN). The round also witnessed participation from institutions such as the Indian Institute of Technology (IIT) Kanpur, SIDBI (Small Industries Development Bank of India), and TDB (Technology Development Board). Furthermore, the funding round welcomed Sunil Munjal, the Chairman of Hero Enterprises, as a notable investor.
The $2 million investment will be instrumental in accelerating Noccarc's growth and expanding its product portfolio. The funding round is expected to fuel research and development initiatives, facilitate market penetration, strengthen customer support, and setup a robust sales and distribution network across major cities.
With a track record of supplying over 3,600 ventilators across India and collaborating with a diverse array of hospitals, Noccarc is now expanding its product portfolio with a vision of going global, leveraging technology, capitalising on the China+1 tailwinds and government incentives for domestic manufacturers.
