Bengaluru-based Yostra Labs, a medtech startup helping patients with chronic diseases, has raised Rs 4 crore (approx. $504K) in a seed funding round led by the Indian Angel Network (IAN), Impact Innovators and Entrepreneurs Foundation (Villgro Innovations Foundation), and the Centre for Cellular and Molecular Platform.
Founded in 2014 by Vinayak Nandalike, Mohan Rao, Sanjay Sharma, and Dr. Maruthy, Yostra Labs aims to bring a change with devices that help in the management of major chronic diseases. Currently, The startup is addressing “Diabetic Foot”, a complication of Diabetes – which is widely neglected even though the mortality rate is more than that of cancer.
With this round of funding, It aims to hire more sales and marketing talent, commercializing the product portfolio, optimizing the bill of materials, and scaling up production.
Yostra has a portfolio of flagship products — NEURO TOUCH and VELOX Care. NEURO Touch is a point-of-care comprehensive screening device for small and large fibre peripheral neuropathy that helps clinicians to diagnose diabetic neuropathy. VELOX Care is an advanced wound care solution for the treatment of chronic wounds such as diabetic foot ulcers.
The startup claims to have screened over 40,000 patients across clinics, private and government hospitals, and diagnostics centers in India.
“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,” Vinayak Nandalike, Founder of Yostra Labs said.
Speaking on the investment, Venkataraman KNK, Lead Investor at IAN, said, “Proper care and treatment are required in various stages of diabetes. Yostra has a portfolio of patented products with a focus on diabetes neuropathy that can save complications and enhance the livelihood of diabetes patients. This investment from IAN and co-investors will help Yostra build a business that is sustainable while providing social impact. The investment will accelerate Yostra to scale globally.”