$500K PRE-SERIES A FUNDING FOR MONITRA HEALTHCARE

06-Aug- 2023: Hyderabad-based remote cardiac monitoring diagnostic platform Monitra Healthcare has raised $500K in equity. 

The influx is key to Monitra’s immediate growth strategy as the organization braces to foray into international geographies, expand distribution networks pan East India, and monitor every biomarker that transfers to the human skin (brain strokes, oxygen saturation, blood pressure, and respiratory rate).

The pre-Series A funding round was led by 91Ventures, a syndicate fund led by Pranay Gupta, and Lavni Ventures, a social impact VC fund. Existing investor Indian Angel Network also participated in the round, investing in the third consecutive round. 

Other entities present at the funding round were ACG World (a multinational pharmaceutical company), AWE Funds, and ultra-high-net-worth individuals such as Lakshmi Narayanan (former CEO, Cognizant Technology Solutions), Kishore Ganji (Astir Ventures, a US-based micro VC), and Arvind Ramamurthy (Partner, PwC India).
The funds will also fuel Monitra Healthcare’s blueprint to enter 10 major cities across India, augment presence in international markets through regulatory approvals, and set up 24x7 world-class patients monitoring centres in India.

Marking the milestone occasion, Ravi Bhogu - CEO and Co-founder of Monitra – said, “This ramp-up is not happening in isolation. It will be accompanied by AI development that predicts cardiac disorders at an early stage, thereby playing a big role in increasing life expectancy.”

He added, "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.” Key Venture was the exclusive financial advisor to Monitra Healthcare for this transaction.

“We are glad to be part of Monitra’s journey and feel that the team is best suited to solve the cardiac monitoring challenge,” said Pranay Gupta, Founder of 91 Ventures.

“The robust real-time 24x7 heart monitoring solution developed by Monitra Healthcare is differentiated by a AI based screening report that is of high value, saving valuable time for cardiologists across the globe,” said Vasu Guruswamy, Co-founder and Partner of Lavni Ventures.

"The affordable and cutting-edge nature of the solution fits Lavni Ventures' thesis of supporting deep-tech startups that help address the lower half of the socio-economic strata," he added.

*This press release is published by VOH team.*