Tata Capital-backed Oncocare Centre raises $18 million funding led by Elevation Capital

Tata Capital-backed Oncocare Secures $18M from Elevation Capital.

Expert Analysis:

• Funding Secured: MOC Cancer Care & Research Centre, backed by Tata Capital, raised $18 million from Elevation Capital for expansion.

• Established in 2018: MOC, founded by four oncologists, operates 24 centers across multiple cities with 47 oncologists, administering 65,000 chemotherapy sessions annually and treating 4.5 lakh patients, making it likely India's largest oncology-driven business; after remaining bootstrapped for 5.5 years, it now ensures profitable, affordable cancer care.

• Expansion & Merger: In May 2024, MOC expanded into Gujarat through a merger with Hemato Oncology Clinic (HOC).

• Funding & Growth Plans: Raised $10M from Tata Capital in 2023; with $18M funding, plans expansion in North India and development of oncology services.

• Strong Growth & Stability: Achieved a 46% CAGR over five years, with a brief COVID slowdown but remained debt-free.

• Cancer Care Challenges: India faces 1.5M new cancer cases annually, with inadequate infrastructure, high costs, and a lack of personalized care.

• MOC’s Solution: Operates safety-equipped community cancer centers, saving patients 20-30% in costs while offering nutrition guidance, physiotherapy, and genetic counseling.

• Future Plans: New funding will enhance infrastructure, enable large-scale clinical trials, and expand access to advanced cancer care across India.