Men­terra in­vests in med­i­cal de­vice startup

BioSpectrum (India) - - START UP NEWS -

Men­terra Ven­ture Ad­vi­sors, an im­pact in­vest­ment fund that in­vests in early-stage so­cial star­tups has an­nounced a new round of in­vest­ment in Biosense Tech­nolo­gies along­side its in­vest­ment part­ner Artha Ven­ture Chal­lenge, im­pact in­vest­ment ini­tia­tive of the Singh Fam­ily Foun­da­tion.

With the new round, Men­terra and Artha have pro­vided more than $1 mil­lion of direct eq­uity fund­ing and un­locked soft debt fund­ing of more than $2 mil­lion through its net­work. The Ma­ha­rash­tra-based start-up pro­vides qual­ity, af­ford­able and con­nected point-of-care di­ag­nos­tics so­lu­tions for chronic dis­eases in In­dia. Biosense has con­ducted over more than 4 mil­lion tests for chronic dis­eases in 2017 alone, across In­dia. Through their ground-level work, they have been able to col­lect de­tailed data on dis­ease pat­terns. The fund­ing from Men­terra will help op­ti­miz­ing its sup­ply chain, and to de­velop an end-to-end chronic dis­ease so­lu­tion plat­form for pa­tients, in part­ner­ship with key part­ners in the health­care ecosys­tem.

Ini­tially, Biosense started de­vel­op­ing af­ford­able med­i­cal de­vices that helped di­ag­nose chronic prob­lems from anaemia to di­a­betes and urine check. To­day, they have six prod­ucts and plan to scale up, in terms of R&D and distri­bu­tion to other parts of the coun­try.

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