Mumbai, 7th February 2024: Piscium, an innovative nanotechnology startup specializing in medical devices, has raised Rs 6 crore in Series A round led by Unicorn India Ventures. The company, renowned for its patented nano-diamond technology, is also recognized by the Department of Scientific and Industrial Research (DSIR) as a leading dental and medical device startup. The funds raised would be used for strengthening the sales & marketing team, brand building, scale up production & operations and launch international business.
Founded in 2017 by Malay Dikshit and Dr. Trupta Dikshit, Piscium is a dental and medical device manufacturing company that aims to deliver through its research, products that take the dental and medical practitioner’s craft to a whole new level.
Chronic & stress related diseases such as diabetes are undoubtedly on the rise in India and so are the frequency of dental ailments. With its path-breaking R&D in medical sciences, Piscium is creating a platform for reaching out to the largest patient pool for dentistry by manufacturing various dental products like Alpha Nano Diamond Burs, Epsilon Burs, Alginates and many more.
Piscium’s patented Nano Diamond Dental Burs, developed and commercialized by them, are the first of their kind in the world and are fast being adopted by dentists for their speed, accuracy, procedural control & smoothness. Due to these differentiating features, dentists have found specialized designs like fissurotomy and surgical burs to be particularly useful.
Piscium’s portfolio today consists of over 10 product categories which include a wide array of dental burs, dental alginates & other products. The company aims to build a diverse portfolio of dental and medical devices that empower healthcare professionals and positively impact the lives of patients worldwide.
Malay Dikshit, Founder & CEO, Piscium, says, “Unicorn India Ventures agreeing to come on board to fund our series A round gives us the much needed impetus and backing to scale up the business into an internationally renowned dental and medical device company in the near future. We also wish to thank SINE-IITB, BIRAC, Friends and Investors who supported and invested in us in our early days. By 2027, over 300k dentists across 5 continents would be using Piscium’s products as we believe that scientific acumen, strong innovation pipeline and an equally strong route to market would be our principal growth drivers.”
Since the last round, the company has enhanced its manufacturing capabilities and vendor ecosystem, developed and launched a wider product range, marking its presence in over 10 states and made inroads in Government E-Marketplace. It has also piloted its marketing strategies to further scale up.
Commenting on the investment, Anil Joshi, Managing Partner, Unicorn India Ventures, says, The Prevalence of chronic & stress related diseases is escalating, with medical research highlighting a significant uptick in such cases. At Unicorn, our comprehensive analysis of this sector led to our investment decision, particularly witnessing the company’s rapid growth fuelled by its innovative products. These patented innovations have received widespread acceptance within the dental community and exhibit extensive potential for global market expansion. Piscium is also actively building its OEM business and forging strategic partnerships. We strongly believe that Piscium’s future innovations in this domain will unlock substantial growth opportunities.”
Piscium is building its domestic route to market through strengthening its sales force, appointing distributors in every major town and focussing on Government procurement. As volumes grow, Piscium is also developing its vendor ecosystem to deliver precision and quality. The company has served over 25000 dentists who have tried Piscium’s products till now.
According to an insights10 report, India’s dental care market was valued at $653 Mn in 2022 and is estimated to touch the CAGR of 9.40% from 2022 to 2030 and will reach $1.4 Bn in 2030, giving hyper-growth opportunity to Piscium.