{"id":2276,"date":"2024-05-14T07:51:33","date_gmt":"2024-05-14T07:51:33","guid":{"rendered":"https:\/\/www.founderlabs.in\/?p=2276"},"modified":"2024-05-14T07:51:33","modified_gmt":"2024-05-14T07:51:33","slug":"turnover-kiit-technology-business-incubator-start-up-ezerx-health-hospitals-ezerx-health-hemoglobin-icmr-sun-pharma-private-equity-funds-plans-to-develop-products","status":"publish","type":"post","link":"https:\/\/www.founderlabs.in\/?p=2276","title":{"rendered":"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3years"},"content":{"rendered":"\n

Sun Pharma-backed start-up, which non-invasively measures haemoglobin count in blood, is targeting a turnover of \u20b9100 crore in three years followed by a listing of the entity on the bourses. <\/p>\n\n\n\n

Mahapatra, an electronics engineer and a Capgemini, ITC Infotech and Grant Thornton alumnus, recollects his early struggles in pitching his product before doctors.<\/p>\n\n\n\n

Partha Pratim Das Mahapatra, heads EzeRx Health, said he plans to raise around $10-12 million, expand his product range product and have more facilities during this period.<\/strong><\/p>\n\n\n\n

\u201cI used to get these questions: are you a doctor? Are you from IIT? And I said no I am neither a doctor nor from IIT. There were also questions like how does your device work? Who did your validation?\u201d he said<\/strong>.<\/p>\n\n\n\n

\u201cAfter the product was commercially ready, I visited 167 doctors in 2020-21. But I could only sell a few devices. And then I realized that selling devices to the doctors is very tough and understood that my target customers are not the doctors directly,but have to reach out to governments looking for cost-effective and large-scale deployable solutions,\u201d he said.<\/p>\n\n\n\n

The company has since got validation from ICMR, sold over 5,000 devices, screened more than 25 lakh individuals and working in states such as Odisha, Assam, Jharkhand, UP and Himachal. The company is also in discussion with the Bengal government.<\/p>\n\n\n\n

The start-up is also involved with organisations such as the Bill and Melinda Gates Foundation, Unicef and pharma companies Cipla, Emcure, BSV, Sun Pharma and Zydus. It plans to work with
leading hospital chains and patents registered in multiple geographies.<\/p>\n\n\n\n

Read our stories: https:\/\/www.founderlabs.in\/tea-production-tea-gardens-international-markets-assam-black-tea-aromica-tea-herbal-tea-ranjit-baruah-assam-agricultural-university\/<\/a><\/strong><\/p>\n\n\n\n

Early spark<\/strong><\/p>\n\n\n\n

It was a family crisis that prompted Das Mahapatra to explore the medtech and biotech space. \u201cMy mother had a cardiac problem and the root cause was anaemia,\u201d he said.<\/p>\n\n\n\n

\u201cThe idea was to build a device to test for hemoglobin quickly and in a non-invasive and cost-effective way that can also be deployed on a large scale for primary screening.\u201d<\/p>\n\n\n\n

\u201cGlobally there is only one product which can do this but the cost works out to around \u20b940-50 per test. By making this in India with our in-house technology and manufacturing capability, we have brought this down to \u20b910 per test,\u201d Das Mahapatra said.<\/p>\n\n\n\n

\u201cWe set up our manufacturing base in Bhubaneshwar and got monetary support from the government of Odisha, Department of Science and Technology, Department of Biotechnology and MEITY under various accelerator programmes.\u201d<\/p>\n\n\n\n


\u201cKIIT Technology Business Incubator helped us to connect to hospitals and research labs and had invested some money. Indian Oil Corporation and Sun Pharma are also investors ,\u201d he said.<\/strong><\/p>\n\n\n\n

Future plan<\/strong><\/p>\n\n\n\n

There are plans to develop products to measure hormonal imbalance in women, and it is working on parameters such as the measurement of thyroid, bilirubin, creatinine and glucose.<\/p>\n\n\n\n

\u201cWe have got land from the Odisha government and we would be setting up our manufacturing unit. We are looking to increase our headcount to around 100 and open zonal offices in Delhi, Mumbai and Bangalore,\u201d he said.<\/p>\n\n\n\n

\u201cTo expand we would be requiring funds and we are in discussion with private equity funds and also existing investors,\u201d he said.<\/p>\n\n\n\n

<\/p>\n\n\n\n

(This is from the Telegraph)<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cWe have got land from the Odisha government and we would be setting up our manufacturing unit. We are looking to increase our headcount to around 100 and open zonal offices in Delhi, Mumbai and Bangalore,\u201d Mahapatra<\/p>\n","protected":false},"author":3,"featured_media":2458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[645],"tags":[],"class_list":{"0":"post-2276","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-funding"},"yoast_head":"\nSun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3years - Founderlabs<\/title>\n<meta name=\"description\" content=\"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3 years.Partha Pratim Das Mahapatra, heads EzeRx Health.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.founderlabs.in\/?p=2276\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3years\" \/>\n<meta property=\"og:description\" content=\"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3 years.Partha Pratim Das Mahapatra, heads EzeRx Health.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.founderlabs.in\/?p=2276\" \/>\n<meta property=\"og:site_name\" content=\"Founderlabs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/founderlabsindia\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-14T07:51:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.founderlabs.in\/wp-content\/uploads\/2024\/05\/pp.png\" \/>\n\t<meta property=\"og:image:width\" content=\"441\" \/>\n\t<meta property=\"og:image:height\" content=\"334\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Gargi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:site\" content=\"@founderlabs_ind\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Gargi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276\"},\"author\":{\"name\":\"Gargi\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/#\\\/schema\\\/person\\\/afab350a7a241df759bfd7f712a8039d\"},\"headline\":\"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3years\",\"datePublished\":\"2024-05-14T07:51:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276\"},\"wordCount\":537,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.founderlabs.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/pp.png\",\"articleSection\":[\"Founder Playbook\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276\",\"url\":\"https:\\\/\\\/www.founderlabs.in\\\/?p=2276\",\"name\":\"Sun Pharma-backed start-up EzeRx, maps plan for Rs 100 crore Turnover in 3years - 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