Hyderabad
Monitra Healthcare, the pioneering Indian 24×7 remote cardiac monitoring platform, announced the successful closure of its Pre-Series A funding round of USD 500K. Led by 91Ventures and Lavni Ventures, this round marks a pivotal moment for Monitra’s expansion.
The equity funding was initiated by 91Ventures, spearheaded by Pranay Gupta, and Lavni Ventures, a social impact VC fund. Major contributions were also made by ACG World, AWE funds, and influential UHNIs, including Lakshmi Narayanan, Kishore Ganji, and Arvind Ramamurthy. The existing investor, Indian Angel Network (IAN), also participated in this, their third consecutive round with Monitra.
This investment is set to fuel Monitra’s growth into international territories, as well as enhance its distribution channels in East India. A primary focus will be monitoring various critical human biomarkers, such as brain strokes, oxygen saturation, blood pressure, and respiratory rate.
Monitra Healthcare has previously benefited from multiple grants from organisations like Biotechnology Ignition Grant (BIRAC), USISTEF, BIPP, SPARSH and has the backing of IAN and Nomads, a Belgian VC Fund.
Key Venture served as the exclusive financial advisor for this transaction. Ravi Bhogu, CEO and Co-founder of Monitra, expressed his enthusiasm for the company’s fast-paced expansion, emphasising the goal to enter 10 major Indian cities and international markets. The infusion of funds will support the development of AI to predict cardiac disorders early on, increasing life expectancy. Pranay Gupta of 91Ventures praised Monitra’s system as a “big relief” for cardiac patient families, reflecting the profound social impact of the startup. Lavni Ventures’ Vasu Guruswamy commended Monitra’s robust 24×7 heart monitoring solution, highlighting its affordability and cutting-edge nature.
Hyderabad-based Monitra Health aims to revolutionise healthcare monitoring through its flagship product, upBeat®, renowned for accurate tracings and world-class reporting. The company’s vision for the next five years includes expansion into diverse healthcare areas such as stroke monitoring, high-risk pregnancy, clinical research, diabetes monitoring, and competitive sports.
Industry stakeholders have expressed excitement and optimism about Monitra’s growth prospects. With a differentiated business model and a committed management team, Monitra Healthcare is poised to redefine the healthcare landscape in India, making a global impact with innovative solutions in cardiac care and beyond.