MOC Cancer Care & Research Centre, a leading network of community cancer centres, has raised $18 million in funding, led by Elevation Capital. This latest investment follows the $10 million raised from Tata Capital Healthcare Fund in January 2023, aimed at enhancing operations and technological capabilities.
The Mumbai-based company plans to utilize the new capital to expand its operations, establish new centres, and diversify its range of services. Operating in the daycare oncology sector, MOC primarily focuses on chemotherapy and the medical management of cancer, making advanced cancer treatment more accessible and affordable.
A Vision for Community-Based Cancer Care
Founded in 2018 by oncologists Dr Ashish Joshi, Dr Kshitij Joshi, Dr Pritam Kalaskar, and Dr Vashishth Maniar, MOC was conceived as a chain of community cancer centres designed to simplify the journey for cancer patients. The company emphasizes critical factors such as accessibility and affordability, ensuring patients receive high-quality care closer to home.
Over the past seven years, MOC has treated over 4.5 lakh cancer patients through a highly qualified team of 47 oncologists. The organization has scaled its operations to 24 centres across Mumbai, Pune, the rest of Maharashtra, Ahmedabad, Indore, and Chhattisgarh.
Strategic Expansion and Growth
In May 2024, MOC strengthened its presence in Gujarat through a strategic merger with Hemato Oncology Clinic (HOC), the second-largest independent chain of community cancer care centres in India. This partnership has bolstered MOC’s capacity to deliver specialized oncology care across the region.
Looking ahead, MOC is preparing to expand its footprint to Delhi NCR and other parts of India. Additionally, the company is set to develop a molecular oncology lab and preventive oncology programs, further broadening its scope of cancer care services.
Investment Landscape and Leadership Changes
The latest funding round marks a significant step in MOC’s growth trajectory, supported by key investors such as Elevation Capital. Recently, Vivek Mathur, Partner and Chief Operating Officer (COO) at Elevation Capital, departed the firm after 14 years to focus on advisory and mentorship. In October last year, the venture capital firm also promoted Vaas Bhaskar and Chirag Chadha from Principals to Partners.
With robust backing from investors and a clear vision for growth, MOC Cancer Care & Research Centre is poised to revolutionize cancer treatment in India, making it more accessible, affordable, and patient-centric.
