MOC Cancer Care & Research Centre, India’s largest network of community oncology centers, has successfully raised $18 million in a funding round led by Elevation Capital. This funding follows a $10 million investment from Tata Capital Healthcare Fund in January 2023, which significantly contributed to MOC’s expansion and technological advancements.
Founded in 2018 by oncologists Dr. Ashish Joshi, Dr. Kshitij Joshi, Dr. Pritam Kalaskar, and Dr. Vashishth Maniar, MOC operates 24 centers across Mumbai, Pune, Maharashtra, Ahmedabad, Indore, and Chhattisgarh. The company specializes in outpatient-focused cancer care, emphasizing chemotherapy and medical oncology services.
In May 2024, MOC expanded its reach by merging with Hemato Oncology Clinic (HOC), the second-largest independent chain of community cancer centers in India, allowing the company to strengthen its presence in Gujarat. With this latest capital infusion, MOC plans to extend its operations to Delhi NCR and other regions while developing a molecular oncology lab and preventive oncology services.
India faces a massive cancer burden with 1.5 million new cases annually. However, the country’s oncology infrastructure remains inadequate, with limited hospital beds and long travel distances for patients seeking treatment. MOC aims to bridge these gaps by establishing community-based, affordable, and research-driven cancer care centers.
According to MOC’s Chief Operating Officer, Manish Jobanputra, the latest investment will enhance infrastructure, expand their network, and facilitate large-scale clinical trials. Elevation Capital partner Mayank Khanduja expressed confidence in MOC’s potential to revolutionize cancer care in India. This investment marks a crucial step in MOC’s journey to making quality cancer care accessible to more patients.
1. MOC Cancer Care’s Business Model, Funding, and Services
1.1 Working Model of MOC Cancer Care
MOC Cancer Care operates on a decentralized, community-based oncology model that provides specialized outpatient cancer care. Unlike traditional hospital-based oncology treatment, which often involves high costs and long waiting times, MOC focuses on accessibility and affordability. Their approach ensures that patients receive high-quality chemotherapy and medical oncology services without the need for prolonged hospital stays.
The company integrates multidisciplinary tumor boards, research-driven treatment plans, and expert oncologists to offer personalized and cost-effective cancer care. MOC’s network comprises 24 centers strategically located in urban and semi-urban regions, enabling patients to access advanced treatments closer to their homes.
1.2 Revenue Model
MOC Cancer Care generates revenue through various streams:
- Patient Care Services: Providing chemotherapy, targeted therapy, immunotherapy, and supportive oncology services.
- Consultation and Diagnostics: Partnering with specialists and laboratories to offer comprehensive cancer diagnostics.
- Pharmaceutical Collaborations: Working with pharma companies for drug trials and distribution.
- Clinical Research and Trials: Conducting large-scale clinical trials for innovative cancer treatments.
- Preventive Oncology Services: Expanding into early detection programs and genetic screening for cancer prevention.
1.3 Funding Background
Since its inception, MOC Cancer Care has raised significant capital to fuel its growth and innovation:
- January 2023: Tata Capital Healthcare Fund invested $10 million, which was used to expand MOC’s operational capacity and technological infrastructure.
- May 2024: MOC merged with Hemato Oncology Clinic (HOC), strengthening its market presence in Gujarat.
- February 2025: Elevation Capital led an $18 million funding round to support further expansion, infrastructure development, and clinical research initiatives.
1.4 Founders and Their Background
MOC was founded in 2018 by four renowned oncologists:
- Dr. Ashish Joshi – Medical oncologist with expertise in targeted therapy and immunotherapy.
- Dr. Kshitij Joshi – Specialist in hematology and bone marrow transplantation.
- Dr. Pritam Kalaskar – Expert in community oncology and patient-centric cancer care.
- Dr. Vashishth Maniar – Oncology researcher focusing on innovative treatment protocols.
Their combined expertise and vision have positioned MOC as a leader in community-based oncology services in India.
1.5 Services Offered
MOC provides a wide range of cancer care services, including:
- Outpatient Chemotherapy and Medical Oncology
- Multidisciplinary Tumor Board Consultations
- Targeted Therapy and Immunotherapy
- Comprehensive Diagnostic and Screening Services
- Preventive Oncology and Genetic Counseling
- Clinical Trials and Research-Based Treatment Approaches
2. Expansion Plans and Industry Insights
2.1 Future Growth and Expansion
With the latest investment, MOC Cancer Care is set to:
- Expand operations to Delhi NCR and other regions across India.
- Develop a molecular oncology lab for advanced cancer diagnostics.
- Launch preventive oncology programs for early detection and risk assessment.
- Strengthen collaborations with pharmaceutical companies for innovative cancer treatments.
- Invest in technology-driven patient care solutions, including AI-powered diagnostics and remote consultation services.
2.2 Challenges in India’s Cancer Care Sector
India faces a severe shortage of quality cancer care facilities, with over 1.5 million new cases annually. Key challenges include:
- Limited Oncology Infrastructure – Most specialized cancer treatment centers are concentrated in metro cities, leaving rural populations underserved.
- High Treatment Costs – Private hospitals often charge exorbitant fees, making cancer treatment unaffordable for many patients.
- Long Travel Distances – Patients in smaller cities and villages must travel long distances for treatment, causing delays in diagnosis and care.
- Lack of Personalized Treatment – Many hospitals follow a one-size-fits-all approach rather than personalized, research-backed treatments.
MOC Cancer Care addresses these challenges by establishing cost-effective, community-based centers that provide specialized care with a focus on affordability, accessibility, and research-driven treatments.
3. Learning for Startups and Entrepreneurs
3.1 Lessons from MOC’s Success
- Addressing Market Gaps – MOC identified a critical gap in India’s oncology sector and provided an innovative solution.
- Community-Centric Approach – By focusing on decentralized cancer care, MOC ensured greater accessibility for patients.
- Strong Research and Innovation – Investing in clinical trials and research-driven treatment plans has helped MOC differentiate itself from competitors.
- Strategic Funding and Partnerships – MOC’s ability to secure investments from Tata Capital Healthcare Fund and Elevation Capital has propelled its expansion and technological advancements.
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