Evelabs Technologies, a Kochi-based health care start-up, has managed to raise an investment of $2 lakh (approximately around ₹1.58 crore).
The investments were made by JITO Angel Network and Smart Sparks Angel Network, apart from half-a-dozen individuals. The six-year-old firm founded by Sanjai Rajendran, Sruthy Gopal, and Vishnu M.S. operates out of the Maker Village in the Kerala Technology Innovation Zone, Kalamassery.
The investment comes at a time when, according to RedSeer Consulting, India’s e-health industry’s gross merchandise value is poised to reach $9 billion to $12 billion by 2025 and $40 billion by 2040. “The growth shows a huge opportunity for companies in this segment,” said Anoop Ambika, CEO of Kerala Startup Mission.
The start-up’s pilot product was Dripo, which is a connected infusion monitor that helps health care practitioners to set, manage and monitor infusion therapy with ease.
Eveslabs founder CEO Vishnu M.S. described Dripo as a handy and portable device that constantly monitors the rate of infusion for variations and blocks, thus helping hospitals improve the process of IV medication through digital transformation. “Eveslabs’s reputation as a medical device company makes it important for us to collaborate with responsible and matured investors who support the relatively long technology development cycle. This will help us scale up our sales across the country,” he said.
Evelabs is working on connected devices for in-patient experience and safety in hospitals and home care. It has set up its ISO13485-certified production facility in Maker Village.
The company is supported by organisations such as TIMED-Sree Chitra Institute of Medical Sciences, IITMK Maker Village, Kerala Startup Mission, IKP Hyderabad, DERBI Foundation, BIRAC, and the Department of Biotechnology. It is has also received several reputed awards.
Evelabs was also selected among top 25 start-ups with social impact for the Global Innovation Challenge-India, Singularity University, 2017, and best interaction design project by CII India Design Awards 2016.
