House of Diagnostics (HOD), an integrated diagnostics platform headquartered in Noida, has raised funding from 360 ONE Asset, an alternative asset manager, by divesting a minority stake.
The company plans to use the capital to expand its network of radiology and pathology centres in key urban markets, strengthen its clinical and digital capabilities, and scale its diagnostics services across pathology, radiology, and nuclear medicine, it said in a statement.
DealStreetAsia had first reported on the funding talks in November last year.
Founded by Dr Shubham Sogani and Labham Sogani, House of Diagnostics operates an integrated diagnostics network in the northern part of India, offering walk-in centres, home sample collection, and digital services.
The company runs 12 diagnostic centres, supported by more than 200 collection centres and home collection services.
“Diagnostics is increasingly becoming a consumer-driven category, where patients value speed,
transparency, and accuracy,” said Tarun Sharma, Senior Fund Manager and Strategy Head, Consumer & Healthcare, 360 ONE Asset. “This [the investment] aligns with 360 ONE Asset’s healthcare investment thesis: backing patient-centric businesses with strong foundations that can withstand the test of scale.”
Dr Shubham Sogani, CEO, House of Diagnostics, added: “Having bootstrapped the business since inception, we believe this is the right stage to bring on a long-term institutional partner to accelerate our next phase of growth.”
360 ONE Asset, which has backed Indian unicorns such as Swiggy and PharmEasy, runs both equity and credit investment strategies.
It manages assets worth around $10 billion across strategies, with the VC and PE platform accounting for more than $3 billion. The firm makes equity investments across financial services, technology, consumer industries, and healthcare.
Earlier this week, the PE major announced it plans to invest around $70 million in Iscon Balaji Foods Limited, India’s largest processor and exporter of value-added potato products.
