Mumbai Oncocare Centre Raises $10 Million In Series A FundingMOC plans to utilize the newly infused capital to expand across India in next 18 months

Mumbai Oncocare Centre (MOC), a chain of cancer daycare centers and a unit of cellcure cancer center Pvt Ltd, has raised up to $10 million from Tata Capital Healthcare Fund for an undisclosed equity stake. MOC plans to utilize the newly infused capital to expand across India in next 18 months.

"It is our privilege to join hands with Tata Capital, which is part of the Tata group that has earned and retained a reputation of being the most ethical industrial and business enterprise in India and globally," said Manish Jobanputra, COO of MOC.

Founded in 2018 by Dr Ashish Joshi, Dr Vashishth, Dr Pritam Kalaskar and Dr Kshitij Joshi and immensely supported, contributed and co-created by 15 other Medical Oncologists, MOC is a pioneering chain of cancer daycares operational at 16 locations across 10 cities of Maharashtra and Madhya Pradesh, according to an official statement by the company.

"MOC is an exciting addition in our healthcare and life science portfolio. As a healthcare focused fund, we were keen to be at the forefront of addressing cancer care and with MOC we found a great partner who are a focused medical oncology services delivery chain. We are extremely proud of supporting this young energetic team at MOC and it is a privilege to be a part of their noble journey," said Vamesh Chovatia,partner at Tata Capital Healthcare Fund (TCHF).

TCHF is a growth oriented private equity fund focused on the healthcare and life sciences sector in India. The fund is sponsored by Tata Capital Limited, a subsidiary of Tata Sons Limited. TCHF has raised $200 million across two funds - TCHF I (2012) and TCHF II (2022). Across both the funds, TCHF has invested in 12 companies, and has successfully exited 5 companies thus far, the statement added.