This investment was led by Equanimity Ventures and Kotak Alternate Asset Managers, marking a crucial milestone in the company’s journey to revolutionize remote cardiac monitoring with its flagship product, upBeat®.
Developed as India’s first comprehensive remote cardiac monitoring platform, upBeat® stands out for its scalability and advanced capabilities. It is acclaimed for accurately diagnosing conditions like unexplained fainting, dizziness, and palpitations.
The platform has gained notable recognition among healthcare professionals, including cardiac electrophysiologists, cardiologists, neurologists, and MD physicians, for its precision in tracings and superior reporting features.
The company operates on a B2B2C model, partnering with healthcare professionals and medical device distributors. It has established a distribution network across various regions in India and plans to expand internationally, targeting SE Asia, Africa, Europe, and North America.
Ravi Bhogu, CEO and Founder of Monitra Health, expressed excitement about this funding achievement. “This milestone fuels our global mission to redefine continuous cardiac monitoring. upBeat® is a testament to our commitment to excellence in healthcare innovation,” Bhogu stated.
Monitra Health’s accomplishments include conducting three pre-clinical studies and one clinical study, presenting results at the European Heart Rhythm Association in April 2022.
The company holds patents in India and Australia, with pending applications in the US, EU, and Canada. It has secured certifications like ISO-13485 and CDSCO and is working towards obtaining CE and 510(k) FDA certifications for expanded global access. Monitra Health has monitored over 10,000 patients, analyzing more than 7.5 billion heartbeats across 720,000 hours.
Looking ahead, Monitra Health aims to position upBeat® as a leading solution for at-home patient monitoring, with plans to diversify into stroke monitoring, high-risk pregnancy, and other healthcare segments.
The funding will primarily support domestic expansion, international certifications, and product development to monitor diverse biophysiological signals.
Investors expressed confidence in Monitra Health’s potential. Rajesh Sehgal of Equanimity Ventures praised the team’s dedication, while Dhiraj Rajendran from Kotak Private Equity emphasized the AI/ML-driven real-time insights offered by the platform.
Nidhi Saraf, CEO of Key Venture, lauded the company’s efficiency in addressing chronic health issues and its strong position in the global health monitoring market.