Mumbai-Based Venture Studio 2070 Health Aims to Transform Indian Healthcare
In October 2022, 2070 Health, a Mumbai-based venture studio, was founded by Sunil Wadhwani (Chairman) and Dr. Pankaj Jethwani (CEO)
Sunil Wadhwani brings over 40 years of experience in scaling impactful technology and healthcare organizations, including founding iGate Corp, while Dr. Pankaj Jethwani has a background as a physician leader, operator, consultant, and investor. The venture studio is on a mission to transform the healthcare sector in India by addressing critical gaps in areas like pain management, pediatrics, and oncology.
Structured Process: 2070 Health operates as a venture studio with a structured approach to create new healthtech companies. The process involves ideation, where extensive research identifies unmet needs in healthcare; team building, where suitable founders are matched with validated ideas; and launch and scale, with support provided during the initial stages, including necessary capital and guidance.
Incubated Startups: As of now, 2070 Health has incubated three startups:
- Elevate Now: India’s first medical obesity management platform.
- Nivaan: India’s first end-to-end pain management brand.
- Reveal Healthtech: Specializing in technology and strategy outsourcing for global healthcare systems and startups.
Focus on Expansion: With the Indian healthtech market projected to reach $25 billion by 2025, 2070 Health is actively expanding its portfolio. Key focus areas include pediatrics, clinical trials, oncology, and urology. The venture studio tailors investments between $1 million to $3 million based on the unique needs of each startup.
Business Model: 2070 Health’s business model revolves around building 12-15 startups over the next five years, realizing value through ownership in these companies. The expectation is to achieve exits through secondary sales, strategic stake sales, or IPOs.
Funding and Investors: In June 2023, 2070 Health secured its first funding round of $30 million from W Health Ventures, a healthcare-focused VC fund.
Outlook in the Growing Indian Healthtech Market: As the Indian healthtech market experiences significant growth, driven by demand for convenient and accessible healthcare solutions, 2070 Health positions itself to address evolving needs and contribute to the transformation of the healthcare sector in the country. The venture studio’s strategic approach and experienced leadership aim to navigate the complexities of healthcare entrepreneurship.