Monitra Healthcare raised USD 500K in equity funding led by 91Ventures
Monitra Healthcare, 24×7 extended remote cardiac monitoring diagnostic platform has closed its pre-series A funding, led by 91Ventures and Lavni Ventures.
Monitra Healthcare raised USD 500K in equity funding led by 91Ventures (syndicate fund led by Pranay Gupta) and Lavni Ventures (Social impact VC fund). The round also saw participation from ACG World (a multinational pharmaceutical company), AWE funds and UHNIs such as Lakshmi Narayanan (Former CEO, Cognizant Technology Solutions), Kishore Ganji (Astir Ventures, USA-based micro VC) and Arvind Ramamurthy (Partner, PwC India). The transaction also saw participation from the existing investor, Indian Angel Network, who invested in the 3rd consecutive round. The investment holds significance in Monitra’s next phase of growth which is likely to enter international geographies, expanding distribution channels across East India and start monitoring every biomarker which transfers to the human skin (brain strokes, oxygen saturation, blood pressure and respiratory rate).
The company has previously received multiple grants from Biotechnology Ignition Grant (BIRAC), USISTEF, BIPP, SPARSH and are backed by Indian Angel Network (IAN) and Nomads (a Belgian VC Fund).
Key venture acted as the exclusive financial advisor to Monitra Healthcare for this transaction.
Ravi Bhogu, CEO and Co-founder, Monitra, “Monitra Health is currently under the midst of a fast-paced expansion as it plans to accelerate entry into 10 major cities across India, access international markets through regulatory approvals and setting up 24×7 world-class patients monitoring centers 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. 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.”