Funding Alert

Monitra Health Secures $1.5 Million in Pre-Series A Funding Round

• ByStartupStory     |    December 19, 2023

Monitra Health, headquartered at T-Hub in Hyderabad, India, proudly announces the successful closure of its Pre-Series A funding round, securing USD 1.5 million in investments. The leading investors in this round include Equanimity Ventures and Kotak Alternate Asset Managers. This funding infusion is aimed at driving the growth of Monitra Health’s groundbreaking remote cardiac monitoring platform, upBeat®. The platform is strategically designed to cater to both local and global markets.

Innovating in its field, Monitra Health has developed India’s first comprehensive remote cardiac monitoring platform, upBeat®, specifically engineered for scalable deployment. Renowned for its cutting-edge capabilities, upBeat® aids in diagnosing unexplained fainting, dizziness, and palpitations, garnering significant acclaim among healthcare professionals, including cardiac electrophysiologists, cardiologists, neurologists, and MD physicians. Its exceptional accuracy in tracings and top-tier reporting capabilities have set it apart in the industry.

Ravi Bhogu, CEO and Founder of Monitra Health, expressed his enthusiasm, stating, “Monitra Health is thrilled to announce the successful closure of our USD 1.5 million Pre-Series A funding round led by Equanimity Ventures and Kotak. This milestone propels our global mission to redefine continuous cardiac monitoring with upBeat®, our cutting-edge flagship product known for its accuracy and world-class reporting.”

Key Achievements:

The company has conducted three pre-clinical studies and one clinical study, showcasing its results at the European Heart Rhythm Association in April 2022. Additionally, Monitra Health holds patents in India and Australia, with global patents pending in the US, the EU, and Canada. Certifications such as ISO-13485 and CDSCO have been obtained, with ongoing efforts directed at securing CE and 510(k) FDA certifications for global market access. Notably, Monitra has monitored over 10,000 patients, analyzing more than 7.5 billion heartbeats over 720,000 hours.

Business Model and Expansion Plans:

Operating on a B2B2C model, Monitra Health collaborates with healthcare professionals and medical device channel partners. The company has already established a distribution network in Hyderabad, Kerala, Maharashtra, and aims to further expand across India. International expansion plans encompass SE Asia, Africa, Europe, and North America post-CE and FDA certification.

Vision for the Future:

Monitra Health aims to establish upBeat® as the gold standard for at-home patient monitoring. Over the next five years, the company envisions expanding its platform into various healthcare sectors, including stroke monitoring, step-down ICU, high-risk pregnancy, clinical research, diabetes monitoring, newborn care, and competitive sports.

Next Phase of Growth:

This funding round marks a pivotal moment for Monitra Health’s growth phase, focusing on domestic expansion, international certifications, and further product development to monitor various biophysiological signals on the human body, such as brain strokes, oxygen saturation, blood pressure, and respiratory rate.

Regarding the investment, Rajesh Sehgal, Managing Partner at Equanimity Ventures, shared, “Ravi, Aparna, Sashank, and team have shown unwavering dedication in developing this solution and taking it to market. We are excited to join forces with them on the mission of expanding this technology globally.”

Dhiraj Rajendran, Partner at Kotak Private Equity, highlighted, “Monitra’s indigenously built solution leverages AI/ML algorithms to give real-time inputs to prescribers and patients about arrhythmias, further enabling them to take tailored decisions.”

Nidhi Saraf, CEO, and Founder of Key Venture, emphasized Monitra’s efficiency in addressing chronic health issues, citing, “The cross-functional founding team of industry experts positions the company as a formidable player in the global health monitoring segment.”

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