Healthcare IoT startup Evelabs raises undisclosed capital from JITO Angel Network

• ByStartupStory     |    July 22, 2022

EVELABS Technologies, located in Kochi, secured an undisclosed seed round headed by JITO Angel Network and  a group of private investors. JITO Angel Network (JAN) has made its ninth investment in the healthcare tech industry. It has previously invested in Comofi Medtech, AADAR, Remedico, and Greencure.co, Tablt, S3V Vascular Technologies, Epigeneres, & Aten Porus, among others.

“With the deployment of deep tech technologies such as the internet of things, artificial intelligence, including machine learning, the health tech industry in India is becoming increasingly intriguing.” Although we are sector agnostic, we feel that supporting healthcare start-ups contributes to the bigger aim of delivering better healthcare services to Indians,” stated Sunil Kumar Singhvi, Vice Chairman of JITO Angel Network. According to RedSeer Consulting, the gross merchandise value of India’s e-health business is expected to reach $9-12 billion by 2025 & $40 billion by 2040. The expansion indicates a big opportunity for firms in the industry.

“As a medical device startup, we needed to work with competent and seasoned investors that understand the somewhat long technology development cycle.” We appreciate the trust shown in us by our main investors, JITO Angel Network, and additional investors Varghese Maliekel, Jose Pattara, Thomas Maliekel, SomaKumar Kolathur, Karishma Thakkar, and Afsal Salu. We intend to offer other goods in the future, and this funding will allow us to expand our sales across India,” he added.

 Evelabs was established in 2016 by Sanjai Rajendran, Sruthy Gopal, & Vishnu MS to enhance clinical efficiency, safety, and patient satisfaction in hospitals and home care. Dripo, the company’s pilot product, is a linked infusion monitor used to manage infusion therapy.

Follow Startup Story