Monitra Healthcare raises $500K pre-Series A funding from 91Ventures, Lavni Ventures
The medtech startup plans to accelerate entry into 10 major cities across India, access international markets through regulatory approvals, and set up 24x7 world-class patients monitoring centres in India.
Monitra Healthcare, a remote cardiac monitoring diagnostic platform, has raised $500K in equity in a pre-Series A funding round led by 91Ventures, a syndicate fund led by Pranay Gupta, and Lavni Ventures, a social impact VC fund.
The round also saw participation from ACG World (a multinational pharmaceutical company), AWE Funds, and ultra-high-net-worth individuals such as Lakshmi Narayanan (former CEO, Cognizant Technology Solutions), Kishore Ganji (Astir Ventures, a US-based micro VC), and Arvind Ramamurthy (Partner, PwC India).
Existing investor Indian Angel Network also participated in the round, investing in the third consecutive round.
The investment holds significance in Monitra’s next phase of growth, which involves entering international geographies, expanding distribution channels across East India, and monitoring every biomarker that transfers to the human skin (brain strokes, oxygen saturation, blood pressure, and respiratory rate).
Hyderabad-basedplans to accelerate entry into 10 major cities across India, access international markets through regulatory approvals, and set up 24x7 world-class patients monitoring centres in India.
This ramp-up will be supported by the development of AI to predict the possibility of cardiac disorders at an early stage, increasing the life expectancy of people, said Ravi Bhogu, CEO and Co-founder of Monitra.
Key Venture acted as the exclusive financial advisor to Monitra Healthcare for this transaction.
"With Key Venture having a background in running healthcare transactions, they understood the impending threat of cardiovascular diseases, leading to a successful closure of the round with valuable partners,” said Bhogu.
“We are glad to be part of Monitra’s journey and feel that the team is best suited to solve the cardiac monitoring challenge,” said Pranay Gupta, Founder of 91 Ventures.
“The robust real-time 24x7 heart monitoring solution developed by Monitra Healthcare is differentiated by a AI based screening report that is of high value, saving valuable time for cardiologists across the globe,” said Vasu Guruswamy, Co-founder and Partner of Lavni Ventures.
"The affordable and cutting-edge nature of the solution fits Lavni Ventures' thesis of supporting deep-tech startups that help address the lower half of the socio economic strata," he added.
Edited by Swetha Kannan