About Panacea Medical
Panacea Medical is a Healthcare company based in Kolar (India) founded in 1999 by Raghu Padmanabhan and G V Subrahmanyam. Radiotherapy and mammography devices are developed for medical use. Panacea Medical has raised $28.63 million across 14 funding rounds from investors including NEA, Tara Fund and Claypond Capital. The company has 373 employees. Panacea Medical was last valued at $76.26 million in January 2025. Its chief executive, as recorded, is Raghu Padmanabhan. Its website panaceamedical.in draws about 18 thousand monthly visits. Its Indian entity Panacea Medical Technologies Private Limited reported revenue of ₹99.58 Cr. Panacea Medical offers products and services including Siddharth II, Bhabhatron 3i, Lilac Digital Mammography, Bhabhatron MLC, and Lilac FFDM with Tomosynthesis. Its focus areas include Life Sciences, Women Health, Medical Devices and Screening Devices.
Company details
Panacea was founded in 1999 and is located in Kolar, India, within the medical devices sector. Radiotherapy equipment, including gamma therapy units Bhabhatron MLC and Bhabhatron 3, is manufactured. An advanced simulator called Imagin is produced, alongside Siddharth II for stereotactic imaging and Impact for patient immobilization. Mammography systems such as Lilac 2DC, Lilac 2DD, and Lilac are also developed for diagnostic applications.
- Headquarters Kolar, India
- Employees 373
- Founders Raghu Padmanabhan, G V Subrahmanyam
- Stage Minicorn
- SectorsHealthcare
- Email••••••••
- Phone•••• ••••
- Website panaceamedical.in
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Panacea Medical Technologies Private Limited
- Date of Incorporation 26 Mar, 1999
- Jurisdiction Malur, Karnataka, India
- Annual Revenue₹99.58 Cr
FY 2025 · +1% YoY
- Net Profit₹6.67 Cr
FY 2025 · 7% margin
- EBITDA₹20.14 Cr
FY 2025 · 20% margin
- Total Equity Funding$28.63M (USD)
in 14 rounds
- InvestorsNEA
& 4 more
- Employee Count373
Associated legal entities of Panacea Medical
Panacea Medical operates through Panacea Medical Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Panacea Medical Technologies Private Limited CIN U33112KA1999PTC079963 | Active | 26 Mar 1999 | Malur, Karnataka | ₹99.6 Cr | 373 | 8 | View details |
Products & Services of Panacea Medical
Panacea Medical offers a comprehensive portfolio of products and services, including Siddharth II, Bhabhatron 3i, Lilac Digital Mammography, Bhabhatron MLC, and Lilac FFDM with Tomosynthesis.
Provides radiation therapy for oncology treatments
Offers advanced cobalt therapy for cancer care
Enables digital imaging for women's health diagnostics
Delivers precise radiation for tumor treatment
Supports detailed mammography for early detection
Apps and channels of Panacea Medical
its YouTube channel Panacea Medical Technologies Pvt. Ltd. has 536 subscribers and 30 videos.
Videos from Panacea Medical
The most watched videos on Panacea Medical's YouTube channel, Panacea Medical Technologies Pvt. Ltd. (536 subscribers). Click a video to play it here.
Funding Insights of Panacea Medical
Panacea Medical has successfully raised a total of $28.63M across 14 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $28.63M
- Total Rounds 14
- First Round $3.23M
(Dec 2013)
- Investors Count 5
Latest 10 of 14 funding rounds of Panacea Medical with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2026 | Debt – Conventional | – | – | ||
| Nov 2025 | $1.13M | Series E | – | – | – |
| Jan 2025 | $5.8M | Series B | $76.26M | Claypond Capital | – |
| Jan 2025 | $5.8M | Series D | – | – | – |
| Oct 2023 | $1.5M | Debt – Conventional | – | – | |
| May 2022 | $628,201 | Debt – Conventional | – | – | |
| Aug 2019 | $1.93M | Series B | $23.91M | New Enterprise Associates | – |
| Aug 2019 | $1.93M | Series C | – | New Enterprise Associates | – |
| Mar 2018 | $384,178 | Debt – Conventional | – | – | |
| Jan 2017 | $3.66M | Series B | $••••• | Tara Fund |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2025 | $76.26M | •••••••• |
| Aug 2019 | $23.91M | •••••••• |
| Jan 2017 | $••••• | •••••••• |
| Apr 2016 | $••••• | •••••••• |
| Dec 2013 | $••••• | •••••••• |
Full valuation and stage history of Panacea Medical
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $76.26M (Jan 2025). 5 investors in total: 5 institutional.
Investors in Panacea Medical
Panacea Medical has secured backing from 5 investors, including venture fund and institutional investors. Prominent investors backing the company include NEA, Tara Fund and Claypond Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital investments are offered to startups by NEA. | nea.com | Menlo Park, United States | ||
Single family office of Ranjan Pai, chairman of the Manipal Education and Medical Group | ||||
An investment management firm providing strategic financial solutions. | 2006 | tarafund.com | Lalitpur, Nepal | |
| tdb.gov.in | ||||
| dst.gov.in |
Investor details for Panacea Medical
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Panacea Medical Technologies Private Limited (Panacea Medical)
Panacea Medical Technologies Private Limited is the primary company behind Panacea Medical. The board of Panacea Medical Technologies Private Limited currently have 7 directors; the longest-serving is Venkata Subrahmanyam Goteti, appointed in 1999. 17 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Venkata Subrahmanyam Goteti DIN 02338270 | Managing Director | 26 Mar 1999 | 27 yrs 7 mo | Panacea Medical Technologies Private Limited |
| Ramann Yerramilli DIN 02043813 | Director | 25 Sep 2003 | 23 yrs 1 mo | Panacea Medical Technologies Private Limited |
| Satyalakshmi Goteti DIN 03029412 | Director | 22 Sep 2005 | 21 yrs 1 mo | Panacea Medical Technologies Private Limited |
| Nagavalli Goteti DIN 02488568 | Director | 20 Apr 2008 | 18 yrs 6 mo | Panacea Medical Technologies Private Limited |
| Shravan Subramanyam DIN 00695586 | Nominee Director | 22 Feb 2025 | 1 yr 8 mo | Panacea Medical Technologies Private Limited |
| Chandra Sekhar Reddy Garisa DIN 03057784 | Nominee Director | 22 Feb 2025 | 1 yr 8 mo | Panacea Medical Technologies Private Limited |
| Sunil Kumar Khurana DIN 06642212 | Nominee Director | 02 May 2025 | 1 yr 6 mo | Panacea Medical Technologies Private Limited |
People of Panacea Medical
8 people are tracked at Panacea Medical (4 in leadership, 4 in team); the tracked headcount is 373.
| Name | Role | Group |
|---|---|---|
Raghu Padmanabhan | Co-Founder & CEO | Leadership |
G V Subrahmanyam | Co-Founder & Managing Director | Leadership |
Animesh Vatsyaya | VP, Marketing & Sales | Leadership |
GVS Manyam | Managing Director | Leadership |
Pallavi T.S | Sr. Regional Manager - BD | Team |
Prashanth Krishnan JS | Senior Regional Manager-Business Development | Team |
Yadhu Krishna | Senior Engineer - Business Development | Team |
Monisha Elangovan | Sales Analyst | Team |
Complete people profiles for Panacea Medical
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Panacea Medical
Figures of Panacea Medical Technologies Private Limited, the primary company behind Panacea Medical, for FY 2025. Revenue was ₹99.58 Cr (+1% year on year). Net profit was ₹6.67 Cr (7% margin). EBITDA was ₹20.14 Cr (20% margin). Revenue has grown at a compounded annual rate of +28% over three years and +48% over five years.
- ₹99.58 CrRevenue · FY 2025 · +1% YoY
- ₹6.67 CrNet profit · 7% margin
- ₹20.14 CrEBITDA · 20% margin
- ₹39.39 CrPaid-up capital
- 373Employees (provident fund records)
- +28%Revenue CAGR, 3 years
- +48%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Panacea Medical Technologies Private Limited are on its company page.
Detailed financial statements for Panacea Medical
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Panacea Medical
4 dated milestones of Panacea Medical across 27 years, from founding to its latest funding, stage changes and deals.
- Founded Panacea Medical is founded.
- Funding First funding round of $3.2M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Debt – Conventional,.
Web traffic of Panacea Medical
The website of Panacea Medical (panaceamedical.in) receives about 17.9K visits a month.
- Monthly visits17.9K
▲ 155.4% vs previous month
Websites whose visitors overlap most with Panacea Medical. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| panaceainfosec.com | 100% | 2.7K | #5,785,438 | View details |
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Related news about Panacea Medical
Complete news archive for Panacea Medical
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Frequently Asked Questions about Panacea Medical
Panacea Medical was founded in 1999 and raised its 1st funding round 14 years after it was founded.
Panacea Medical is headquartered in Kolar, India. It is registered at Kolar, Karnataka, India.
Raghu Padmanabhan is the CEO of Panacea Medical, as recorded in our data. They have also founded this company.
Panacea Medical is a funded company, having raised a total of $28.63M across 14 funding rounds to date. The company's 1st funding round was a Series B of $3.66M, raised on Dec 2013.
Panacea Medical has 373 employees.
The primary company behind Panacea Medical, Panacea Medical Technologies Private Limited, reported revenue of ₹99.58 Cr for FY 2025, up 1% year on year.
Panacea was founded in 1999 and is located in Kolar, India, within the medical devices sector. Radiotherapy equipment, including gamma therapy units Bhabhatron MLC and Bhabhatron 3, is manufactured. An advanced simulator called Imagin is produced, alongside Siddharth II for stereotactic imaging and Impact for patient immobilization. Mammography systems such as Lilac 2DC, Lilac 2DD, and Lilac are also developed for diagnostic applications.
Panacea Medical offers Siddharth II, Bhabhatron 3i, Lilac Digital Mammography, Bhabhatron MLC, and Lilac FFDM with Tomosynthesis.
Panacea Medical has 5 investors. Key investors include NEA, Tara Fund, Claypond Capital, Technology Development Board, and Department of Science & Technology.
The valuation of Panacea Medical is $76.26M as of Jan 2025.
Panacea Medical operates through Panacea Medical Technologies Private Limited.
The legal entities of Panacea Medical currently have 8 directors, including Satyalakshmi Goteti, Venkata Subrahmanyam Goteti, Elizabeth Wilson and others.