Unicorn India Ventures (UIV), a deep tech-focused fund, recently announced a partial exit from Sascan Meditech, a rising star in the medtech industry. This strategic move has yielded an impressive 6X return on UIV’s investment, while the fund continues to retain a significant stake in the company. Sascan, based in Thiruvananthapuram, was founded in 2015 by Dr. Subhash Narayanan, a laser scientist with expertise in Biophotonics, and focuses on developing innovative, affordable cancer care solutions.

UIV made its first investment of ₹2 crore in Sascan in 2020 and followed up with another round in 2021, making them the company's first institutional investor. Sascan has developed two standout products: OralScan, a multimodal image-capturing device for real-time, non-invasive screening of oral cancer, and CerviScan, which replaces conventional digital colposcopy for cervical cancer screening.

According to a press release, Time Medical Digital Health and Imaging Ventures, a leader in the imaging diagnostic sector, has made a secondary and primary investment in Sascan. This partnership, along with UIV, aims to accelerate Sascan's growth and further scale its groundbreaking innovations.

UIV’s exit underscores the growing potential of medtech startups in India and highlights the success of early-stage investments in driving advancements in healthcare technology