Renal Care Solution Provider Renalyx raises funding from CanBank

• ByTejika Bajaj     |    February 3, 2022

Renal care solution provider Renalyx Health Systems Pvt Ltd has recently announced that it has raised its first round of external funding from Canbank Venture Capital fund for an undisclosed amount.

Renalyx has developed an IoT (internet of things) enabled dialysis machine. The machine along with its software helps in remote monitoring of dialysis sessions and tracking of patient treatment history. It also allows for artificial intelligence (AI)/machine learning (ML)-enabled personalised dialysis prescription generation and helps in complete dialysis centre management.

The company officials have announced that the recently infused capital will be utilised for developing products and software with the primary aim of providing end-to-end renal care solutions. The financial details of the investment have not been revealed by the parties.

Canbank Venture Capital Fund, a subsidiary of state-run Canara Bank Ltd, is investing out of its sixth fund. It was also selected by the Department of Electronics and Information Technology (DeitY) to manage the Rs 2,206-crore Electronic Development Fund. Canbank Venture Capital Fund invested in Renalyx through its sixth fund — Empower India Fund.

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