IAN Leads 4 Cr Seed Round in Yostra Labs,a Medtech Startup
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* The Bengaluru-based startup will be utilizing the funds to increase its workforce by expanding in-house sales and marketing teams
* Yostra will also be focusing on the commercialization of the product portfolio, expanding its market reach, optimizing the bill of material, and scaling up the production
New Delhi : Yostra Labs, a Medtech startup has raised INR 4 crore in its seed funding round led by Indian Angel Network (IAN) and was joined by co-investors Impact Innovators and Entrepreneurs Foundation (Villgro Innovations Foundation) and Centre for Cellular and Molecular Platforms
The startup aims to utilize the infused capital for increasing its workforce by expanding in-house sales and marketing teams. The funding will also be directed towards expanding the market reach of the company, the commercialization of the product portfolio, optimizing the bill of material, and scaling up the production.
Founded in 2014 by VinayakNandalike (Founder, CEO), Mohan Rao (Co-founder, CTO), Dr. Sanjay Sharma (Co-founder, Clinical Advisor), and Dr. Maruthy(Co-founder, Clinical Advisor), the startup aims to bring a change withdevices that help in the management of major chronic diseases. It is currently addressing “Diabetic Foot”, a complication of Diabetes – which is widely neglected even though the mortality rate is more than that of cancer.
Yostra’s devices have screened over 40,000 patients across clinics, private and government hospitals and diagnostics centresin India.
Mr. Vinayak Nandalike, Founder of Yostra Labs said, “Being a market pioneer, Yostra has developed path-breaking innovations for the diagnosis and treatment of Diabetic Foot complications. With the investment from IAN and the guidance from our mentors, we plan to scale up our operations and expand our market reach.”
“IAN is happy to lead the current round of investment in Yostra Labs Private Limited. India is deemed as the world's capital of diabetes. Proper care and treatment are required in various stages of diabetes. Yostra has a portfolio of patented products with focus on diabetes neuropathy that can save complications and enhance livelihood of diabetes patients. This investment from IAN and co-investors will help Yostrabuild a business that is sustainable while providing social impact. The investment will accelerate Yostrato scale globally,” Mr. Venkataraman KNK, Lead Investor, IAN said.
The Advanced Wound Care Market, currently at USD 10.3 Bn is expected to grow at a CAGR of 9.8%, driven largely by an increasing focus on innovation. An innovation-focused medical device company, Yostra has a portfolio of patented products that have been backed by fundamental research. Yostra’s patented portfolio of products includes NEURO TOUCH, a Point of a Care screening device for Peripheral Neuropathy, and VELOX Care, an Advanced Wound Care product for the treatment of chronic wounds. Yostra’s products have significant traction in the Indian market with a potential for scale up in the global market.
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