Everhope Oncology secured $10 million seed funding for expansion

Everhope Oncology, a joint venture between Narayana Health and a venture capital firm, has secured $10 million in seed funding to establish medical and surgical cancer care facilities in Delhi and Mumbai, with plans to expand to 10 cities over the next three years.

 

This is the largest healthcare seed round in the last 24 months. These medical and surgical cancer care facilities will provide diagnosis, treatment, and supportive care for cancer patients, including chemotherapy, radiation, surgery, and palliative care.

 

"The rapid rise in cancer incidence is a growing health crisis in India. Today, an estimated 8 million Indians live with cancer, and projections suggest that one in nine will develop the disease in their lifetime," the company said. However, India's healthcare infrastructure is struggling to keep pace with this rising burden. Over the next few years, an estimated 40,000 additional chemotherapy and surgical beds will be required.

 

 

Oncologists in India are overburdened, with just one oncologist for every 2,000 cancer patients—compared to one per 100 in the US. This results in limited time per patient, increased anxiety for patients, and burnout among doctors. In addition to poor access and prohibitively expensive diagnostics and treatments, the stigma surrounding cancer has led to over 60 per cent of cases being detected late, contributing to higher patient mortality.

 

Everhope Oncology seeks to address these challenges by establishing dedicated chemotherapy facilities and specialised surgical centres. These centres will offer a modern, comfortable, and infection-free environment, ensuring personalised attention, minimal wait times, and an enhanced patient experience. A clinical board comprising experienced oncologists, in close collaboration with Narayana Health, will implement globally validated protocols to ensure best-in-class clinical outcomes. Additionally, Everhope will provide holistic care services, including mental health counselling, nutritional consultations, and pain management. A 24/7 care concierge service will support patients between treatment sessions, providing guidance and assistance during this critical phase of their journey.

 

Viren Shetty, vice-chairman of Narayana Health, said, "Most people visualise cancer treatment as thin and frail people stuck with hundreds of tubes, walking from one crowded hospital room to another. This is why most of us avoid cancer screening and seek out non-scientific treatment options. We want to change the common misperceptions of curing cancer. Globally, most cancer therapies—chemotherapy, surgery, palliative care, radiation, consultations—are conducted in comfortable, dedicated spaces in retail locations far away from hospitals. With Everhope, we aim to provide patients with best-in-class onco-therapies in comfortable suites close to their homes, where they can get treated in a crowd-free environment and go about the rest of their day."

 

Pankaj Jethwani, managing partner at W Health Ventures, said, “As we work towards solving pressing healthcare issues, our collaboration with Narayana Health marks a significant step forward. Globally, cancer care has seen remarkable innovation—from daycare chemotherapy infusion centres to advanced diagnostics for early detection and breakthrough therapies like CAR-T. With Everhope, we aim to drive oncology innovation in India, working alongside entrepreneurial oncologists across the country who are eager to become business owners.”

 

In recent years, cancer care has emerged as one of the fastest-growing specialties within multi-speciality hospitals. At the same time, there is a significant opportunity for the expansion of dedicated cancer facilities. This growth is driven by rising patient volumes, the strong economic viability of single-speciality oncology centres, increasing entrepreneurial ambitions among oncologists, and greater patient awareness—enabling patients to seek the best treatment options upon diagnosis.