Menterra invests in medical device startup
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.