“
Marketing. Sachin and Usman are M
Tech from CCT, University of Rajasthan
while Prajyot is a MBA from IIMAhmedabad. For help in operations,
company hires interns on mutual terms
from time to time.
Module has several achievements to its
credit, the biggest of which
include a 50 lakh grant from
Biotechnology Industry Research
Assistance Council (BIRAC),
Selection for the finale of the
affordable healthcare India
scheme by Wellcome Trust, UK,
in collaboration with UMass,
Amherst, Selection for the IIM-A,
CIIE healthcare accelerator. The
latest and the most outstanding
as Sachin states, is winning the
Unitus Seed Fund’s StartHealth3 competition with a cash prize of
Rs 10 lakhs and an opportunity for fund
upto 2 crore.
challenge,” said Mr Sachin Dubey.
Talking about the challenges, Sachin
added further, “Also we believe that
funding biotech companies in the valley
of death is critical to sustain the
innovation atmosphere otherwise there
will be a huge count of startups that will
around 65 lakh from grants and awards
and are in talks of raising another 50
lakh as seed fund. Company is looking at
raising around 1crore for another 12
months to bring USense into a
marketable form.
The company aims to earn a name in
quality diagnostic technology at
affordable prices. Leveraging the
platform being developed for
USense we plan to roll out
multiple products aimed at
diagnosis of several other viral
and bacterial diseases in humans
and animals. Products for
pathogen detection in food to be
used during the food processing
while production and, onshelves, saving millions of
dollars for the industry also
keeping consumers in perfect
shape. Module plans to introduce
Wellness products to be used at home
keeping track of one’s health.
Funding biotech
companies in the valley
of death is critical to sustain
the innovation atmosphere
otherwise there will be a huge
count of startups that will die.
“The journey so far has been a collage of
happy and sad moments with challenges
at numerous points. The government
has been quite supportive for bringing
out agencies like BIRAC, but apart from
the financial support it was the
mentorship that was critical. Module has
been lucky to have Venture Centre, Pune
and C-CAMP, Bangalore in their
advisory board who helped bring in right
advice, people and connect needed at
appropriate times. Finding qualified and
talented people, who share the founder’s
vision of a startup, continues to remain a
Sachin Dubey,
CEO
die. There is also a lacking of clear
guidelines in terms of regulations and
certifications for medical devices and an
equivalent system like the US-FDA
should be in place in India.”
Banking on positive outlook
Module is now seeking more funds as it
plans to expand in terms of human
talent, expanding the product portfolio
and begin pilot studies of USense. It is
open for collaboration with technical
institutes, hospitals and government
agencies. Module has been able to raise
enough funds to sustain its operations
and R&D efforts for bringing out
innovative products. It has so far raised
“The market opportunity is huge with
Indian diagnostic market pegged at
more than 2.5 billion US$, and with
the startup India movement in full
swing, we believe that we will be able
to leverage and contribute to the
mission of our PM Narendra Modi of
“Make in India” but we want to go an
extra mile with our products” Made in
India, for the world” says Sachin
whose only dream is to contribute to
states like Rajasthan, where he belongs
and has been a witness to lack of
healthcare facilities.
KEY PERSONNEL AT MODULE INNOVATION
Usman Khan,
COO
Prajyot Gandhi,
Marketing Head
BIOVOICENEWS.COM
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