Company Intelligence Profile
Novocura Tech Health Services Private Limited
Novocura Tech Health Services Private Limited is the corporate entity behind mfine, an AI-enabled digital healthcare / telemedicine platform founded in 2017 by Prasad Kompalli and Ashutosh Lawania, offering instant doctor teleconsultations, at-home diagnostic lab tests, medicine delivery, dental/vision care and chroni…
Last updated 10 August 2026
Novocura Tech Health Services Private Limited operates the AI-enabled digital healthcare platform mfine, providing telemedicine services, at-home diagnostics, and more. Founded in 2017, it merged with LifeCell International's diagnostics business in 2022 to form LifeWell, supported by an $80M investment from OrbiMed. Financial reporting for FY2025 showed a 64% revenue decline, reflecting a post-merger restructuring.
Compiled from MCA filings and other public records. Figures may lag the latest filing; verify against the detailed sections below.
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Company Identity
| Registered name | Novocura Tech Health Services Private Limited |
|---|---|
| CIN | U85100TN2017PTC166713 |
| PAN | AAFCN4953K |
| Status | Active |
| Listing | Unlisted (private limited company; not listed on any stock exchange) |
| Incorporated | 16 February 2017 |
| ROC | RoC Chennai / Tamil Nadu |
| Sector (NIC) |
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| Registered address |
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| Authorized capital | ₹19.53 crore |
| Paid-up capital | ₹18.59 crore |
Business Overview
- Novocura Tech Health Services Private Limited is the corporate entity behind mfine, an AI-enabled digital healthcare / telemedicine platform founded in 2017 by Prasad Kompalli and Ashutosh Lawania, offering instant doctor teleconsultations, at-home diagnostic lab tests, medicine delivery, dental/vision care and chronic-disease-management programs to consumers and corporates (clients cited on mfine.co include Amazon, Honeywell, Nestlé, Uber, American Express)
- In July 2022, mfine merged with LifeCell International's diagnostics business to form a combined entity (reported as "LifeWell"), with OrbiMed investing $80M in the merged unit
- This explains the shared registered address with LifeCell International and the multiple common-director links to LifeCell-group entities found on Tofler (LifeCell International, LifeWell Diagnostics, Cellutions Biostorage, H S Pathology, Creative Art Concepts, Abusha Estates, Amuda Capital Services LLP)
- Financial filings for FY2025 show a sharp (~64%) YoY revenue decline and near-elimination of borrowings/net-worth, consistent with a post-merger wind-down/restructuring of the standalone mfine legal entity rather than a going-concern operating business at prior scale
- Confidence: medium — the merger narrative is corroborated by two independent aggregator/press mentions but full primary-filing confirmation was not obtained
Directors
Confirmed from Tofler/TheCompanyCheck (2 sources agree on names, DINs only partially sourced):
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Ashutosh Lawania | 01295011 | Director | 16-Feb-2017 |
Financials
Novocura Tech Health Services experienced a significant drop in revenue to ₹18.85 crore in FY2025, down approximately 64% year-on-year, with borrowings eliminated and total assets reducing by about 85%. Despite these declines, the company achieved an impressive operating margin of 98.46% and a net profit margin of 4.12%.
- FY2025 (audited, standalone, year ending March 2025) — TheCompanyCheck: Revenue ₹18.85 crore (down ~64% YoY)
- Tofler (same filing): revenue bracket "₹10-25 crore", borrowings down 100% (eliminated), total assets down ~85%, book net worth down ~238% (i.e., swung deeply negative), operating margin 98.46%, net profit margin 4.12%, gross margin 0.08%, ROCE 225.75%, debt-to-equity 1.18
- EBITDA and absolute PAT/net-worth/borrowings figures are paywalled on both aggregators — not obtained as exact values
- Two sources agree directionally (large YoY decline) — confirmed trend, unconfirmed exact absolute figures
- This pattern is consistent with the July 2022 mfine/LifeCell merger reshaping the standalone entity's books; standalone vs. consolidated treatment for the merged "LifeWell" entity is unclear and not separately confirmed
Funding
Funding raised is attributed to the mfine brand/business (pre-merger), not confirmed as filed directly against this CIN in primary MCA records:
| Series A, May 2018 | $4.2M |
|---|---|
| Series B | $17.2M, lead SBI Investment (Japan), with SBI Ven Capital, Beenext, Stellaris Venture Partners, Prime Venture Partners |
| Later round, 31-May-2021 | $48M, led by Beenext, with SBI Group Japan, Stellaris Venture Partners, Heritas Capital, SBI Ven Capital Singapore, Y's Investment, Prime Venture Partners, Alteria Capital |
| Total raised | Tracxn and TheCompanyCheck agree on ~$87.7M across 9 rounds/30 investors. Inc42 Datalabs reportedly shows "$592.99M+" — this figure is a strong outlier and very likely conflates mfine with the larger combined LifeCell/LifeWell group's cumulative funding (an entity-confusion risk flagged per house rules); NOT used as the headline number |
| Post-merger | OrbiMed invested $80M into the combined mfine+LifeCell diagnostics entity ("LifeWell") in/around July 2022 — this capital sits at the merged-entity level, not confirmed as booked directly under this CIN |
Tracxn used here only for round names/amounts per house rules, cross-checked against press (Inventiva, AsiaTechDaily, Entrackr).
Charges/Loans
- 0 open charges
- 3 satisfied charges totaling ₹46 crore — ₹6 crore (10-Oct-2018), ₹25 crore (14-Jun-2019), ₹15 crore (21-Jan-2021), all marked satisfied
- TheCompanyCheck corroborates "no registered (open) charges." Confirmed
Legal
One case found on Indian Kanoon: "M/S Avanta Solutions Business Centre vs M/S Novocura Tech Health Services Private Limited," Delhi High Court, heard by Justice Subramonium Prasad, dated 21 May 2026.
Competitors
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