VMPL
Bangalore (Karnataka) [India], November 26: Prodancy Pvt. Ltd., a pioneering Medtech startup specializing in surgical consumables for joint replacement surgeries, has successfully raised Rs2.14 Crore in a funding round Co-Led by Campus Angels Network and Keiretsu Forum Chennai, It also saw participation from existing investors Center for Cellular & Molecular Platforms (C-CAMP), and other angel investors which reaffirmed its confidence in Prodancy through follow-on funding.
This investment will fuel Prodancy's growth in India while advancing its plans to expand into global markets, including the United States. With joint replacement surgeries in India growing at an impressive 22% CAGR, Prodancy is poised to capitalize on this momentum through its innovative product portfolio.
Co-founded by Pradeep Vamana and Venkatesh Parthasarathy, Prodancy is redefining surgical consumables with a focus on affordability and innovation. Its flagship product, Vizbl, is the world's lightest surgical helmet-- 40% lighter and 50% more cost-effective than competitors. The helmet's unique no-chin-bar design ensures superior comfort and protection for surgeons during lengthy joint replacement procedures, addressing critical ergonomic and safety challenges.
Since its launch in early 2023, the Vizbl helmet has made remarkable progress, with over 230 units sold and 12,000+ surgeries performed using the technology across India's top hospitals. Prodancy is now scaling its operations and preparing to meet international regulatory requirements for its planned entry into global markets.
Leadership Perspectives
Pradeep Vamana, Co-Founder of Prodancy, shared, "This investment marks a significant milestone in our mission to deliver made-in-India medical devices for respiratory protection and joint replacement surgical consumables--a market valued at $4.8 billion. These funds will expedite our product development and regulatory efforts, including FDA 510(k) approvals, helping us reach more healthcare providers with innovative solutions that prioritize safety and affordability."
Venkatesh Parthasarathy, Co-Founder of Prodancy, added, "At Prodancy, we're committed to addressing healthcare challenges through innovation and cost efficiency. By reducing dependency on imported medical devices, we aim to contribute meaningfully to India's healthcare ecosystem. The Vizbl Surgical Helmet was designed to meet surgeons' specific needs, and this funding brings us closer to delivering broader impact."
Chandran Krishnan, Managing Director & CEO of Campus Angels Network, commented, "Prodancy embodies the kind of transformative medtech innovation that aligns with our mission. We're excited to back their growth as they continue to redefine the respiratory protection and surgical consumables market. Their founders' 24 years of combined experience, financial discipline, and strategic vision make us confident in their success."
Nitya Raman, Sr. Program Manager at C-CAMP, noted, "Prodancy's Vizbl Helmet has demonstrated strong product-market fit by addressing critical needs for joint replacement surgeons. We are thrilled to double down on our investment, supporting their leadership and vision in reducing India's reliance on imported medical devices."
Gowtham Sarvesh, Chief Operating Officer of Keiretsu Forum Chennai & Singapore, remarked, "Prodancy exemplifies resilience and ingenuity in Medtech. Building outside conventional incubators, they have achieved EBITDA-positive growth with a smart distribution model and impactful innovations. We're proud to support their expansion and focus on affordability."
About Prodancy Pvt. Ltd.
Founded by Pradeep Vamana and Venkatesh Parthasarathy, Prodancy is a Medtech startup revolutionizing surgical consumables for joint replacement surgeries. With a clear product roadmap for global expansion and a mission to reduce medical device imports, Prodancy is set to become a leader in the Medtech space. See more details at www.vizbl.in
For media inquiries:
Pradeep Vamana
pradeep@prodancy.com
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