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Healthcare IoT startup Evelabs Technologies said it received investment of $200,000 from JITO Angel Network, Smart Sparks Angel Network, and six individuals.
Founded by Sanjai Rajendran, Sruthy Gopal and Vishnu MS, the six-year-old firm is based in Kerala Technology Innovation Zone at Maker Village in Kalamassery. The company’s pilot product is Dripo, a connected infusion monitor that helps healthcare practitioners manage infusion therapy.
The investment comes at a time when a report by RedSeer Consulting projects that the Indian e-health industry’s gross merchandise value would likely reach $9-12 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.
Evelabs CEO Vishnu said Dripo is a handy and portable device that monitors the rate of infusion for variations and blocks, thus helping hospitals improve IV medication through digital transformation. “IV therapy is the most common and effective method of administering medicines, but it is prone to adverse events generated by wrong dosage, especially in resource deficient settings,” he said.
Evelabs is working on connected devices for in-patient experience and safety in hospitals and home care. It has an ISO13485-certified production
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 Department of Biotechnology.
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