National, 11th June 2024: C3 Med-Tech, an innovative leader in the development and manufacturing of ophthalmic screening devices, has announced securing INR 2 crore from Industrial Metal Powders. This investment will fund the launch of new telemedicine and AI-enabled portable equipment designed for smooth and quick eye checkups and real-time detection of eye diseases. The integration of telemedicine and AI technology will enable immediate and accurate diagnoses, facilitating timely intervention and significantly improving the chances of preventing visual impairment and blindness.
The company's mission is to reduce avoidable blindness in India by developing affordable and portable ophthalmic screening devices. This strategic investment marks a significant milestone for C3 Med-Tech, with funding the company plans to expand its presence across India and globally via marketing efforts, team building and research and development for future products.
Yash Nagarsheth, Founder & CEO of C3 Med-Tech, said "This investment will help us boost and accelerate our efforts to expand access, particularly in underserved communities where the need is most acute. Industrial Metal Powders is one of the largest custom surgical implant manufacturers in South East Asia. So we are confident that with their guidance and support we will be able to make a meaningful impact in the fight against avoidable blindness. We are also strengthening our leadership team with an experienced management team, along with experienced and subject matter expert ophthalmologists to guide us for developing market relevant products.”
"We are thrilled to join hands with C3 Med-tech on their journey to revolutionise eye care from a product and," said Mr. Prakash Dhoka, Managing Director at Industrial Metal Powders. "C3 Med-Tech's commitment to leveraging technology for the greater good aligns perfectly with our vision of advancing medical technologies to improve lives."
India faces a significant shortage of ophthalmologists, with only about 30,000 registered specialists serving a population of 1.3 billion. Unlike traditional eye check-up equipment that is heavy, expensive, and requires specialist operation, C3 Med-Tech addresses this critical gap with their portable, lightweight, battery-operated, and user-friendly eye screening devices.
C3 Med-Tech’s patented and US FDA approved devices: C3 Vision-Portable Slit Lamp, C3 Smartphone Fundus Camera, C3 Slit Lamp Imaging System offer a revolutionary approach to diagnosing eye diseases such as cataract, diabetic retinopathy, glaucoma, corneal infections, ocular surface disorders and the majority of other eye diseases which can cause visual impairment and blindness. Their upcoming product is a very unique system for recording eye surgeries. With this product offering C3 will be covering all the facets of Ophthalmic diagnostics, right from eye screening in low-resource areas to recording eye surgeries in the Operation theatre.
C3 Med-Tech was previously incubated at one of the most prestigious Incubators in India- the Healthcare Technology Innovation Centre (HTIC) at Indian Institute of Technology Madras. They have secured multiple grants including BIG’17 from the Department of Biotechnology, Indian Government, and multiple grants from IIT Madras Incubation Cell. Pune-based investment advisory firm INFSPL has helped C3 secure the funding.
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