SUMMARY
- Dozee, a health-tech startup, laid off 40-50 employees amid restructuring.
- Despite recent workforce reduction, it plans to expand into the USA, UAE, and Africa.
- Facing financial challenges with a 33% revenue drop and a 175% rise in losses, it is focusing on its global exposure.
Health-tech startup Dozee has laid off around 40-50 employees amid a restructuring exercise last month. This has affected the staff members, marketing, and customer success departments among other on-field teams. Before the layoff process, the startup had employed more than 250 people.
Severance benefits will be given to the affected employees in accordance with their notice periods. Although, according to a Dozee representative, there was no staff cut, the business claimed that a very tiny number of its employees were affected.
Mudit Dandwate and Guarav Parchani founded Dozee, which specializes in its contactless patient monitoring technology which allows medical professionals to monitor remotely patient’s vital signs, including blood pressure, temperature, heart rate, and breathing rate. Additionally, it provides physicians with an early warning system that notifies them when a patient’s health; is clinically deteriorating. One of its insiders stated, “ Despite having a presence across the country, the loss has grown multifold and the revenue growth is tepid”.
Although the startup has not yet submitted its FY24 financial records, it did reveal a 33% decrease in revenue from INR 3.1 Cr in FY22 to INR 2.1 Cr in FY23. Its loss has increased 175% to INR 84.4% Cr from INR 30.6 Cr in FY22.
According to the sources, Dozee is currently focusing on the US market, increasing its presence in Africa and the UAE.
To date, it has collected about $12 million in funding over several rounds. In April of 2023, Dozee raised $6 million in a Series A2 round with the help of 3one4 Capital, Prime Venture Partners, YourNest VC, and the State Bank of India.
