Kerala, Cochin-based healthtech startup Evelabs, which is working on connected devices for in-patient experience and safety in hospitals and home care, raised an undisclosed amount from JITO Angel Network (JAN) along with a cohort of individual investors.
Evelabs is working to provide simple solutions to improve clinical efficiency, safety, and patient experience in hospitals and home care. They have developed a connected infusion monitor called Dripo, which helps the nurse set, manage and monitor infusion therapy at ease.
“Though it is the most common and effective method of administering medicines, IV therapy is prone to adverse events generated by the wrong dosage, especially in resource deficient settings. Dripo, a handy and portable device that constantly monitors the rate of infusion for variations and blocks, helps the hospitals to improve the process of IV medication through digital transformation,” said Vishnu MS, Founder and CEO of Evelabs.
Dripo, which has over 99 percent accuracy in drop detection, is a connected infusion monitor that doesn’t need calibration and costly infrastructure. Evelabs has set up its internationally certified production facility for the products in Maker Village Cochin.
Founded in 2016 by Sanjai Rajendran, Sruthy Gopal, and Vishnu MS, the healthtech startup is supported by organizations such as TIMED-Sree Chitra Institute of Medical Sciences, IITMK Maker Village Kerala Startup Mission, IKP Hyderabad, DERBI Foundation, BIRAC and Department of Biotechnology.
The Indian healthtech sector has immense potential
The startup, which has won several awards, was also selected in the top 25 startups with social impact for Global innovation challenge-India, Singularity University, 2017, and Best Interaction design project by CII India Design Awards 2016.
“The healthtech sector in India is getting increasingly interesting with the deployment of deeptech tools such as internet of things, artificial intelligence, and machine learning. Although we are sector agnostic, we believe that supporting healthcare startups serves a larger goal of providing Indians with better healthcare facilities,” said Sunil Kumar Singhvi, Vice Chairman, JITO Angel Network.
According to RedSeer Consulting, India’s e-health industry’s gross merchandise value is poised to reach $9-12 billion by 2025 and $40 billion by 2040. The growth shows a huge opportunity for companies in the segment.
“Evelabs’ IoT-enabled solutions to improve clinical efficiency and ensure patient safety is a special draw for us, who are always looking for unique solutions to problems. We are glad to be one of the early-stage investors in Evelabs and support it in its growth journey,” Singhvi added.