16 August 2022 | News
The fund will be utilised to increase the workforce by expanding in-house sales and marketing teams
Bengaluru-based Yostra Labs, a medtech startup, has raised Rs 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 utilise 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 commercialisation of the product portfolio, optimising the bill of materials, and scaling up the production.
The startup 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 centres in India.
"IAN is happy to lead the current round of investment in Yostra Labs. 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," said Venkataraman KNK, Lead Investor, IAN.