Bangalore-based medical device startup OneBreath has received a $3 million investment (Rs 18 crore) from Ventureast Tenet Fund and some angel investors.
Bangalore-based medical device startup OneBreath has received a $3 million investment (Rs 18 crore) from Ventureast Tenet Fund and some angel investors.
The new funding will be used for the OneBreath's expansion into emerging markets like India, Eastern Europe, and Africa. OneBreath will also secure regulatory approvals in Europe and the US.
OneBreath was co-founded by Matthew Callaghan, Bryan Loomas, and Vijay Simha. The Bangalore-based medical device firm develops low-cost and portable mechanical ventilators for intensive care patients, the report stated.
Callaghan, who co-founded the firm in 2010 along with medical device entrepreneur Bryan Loomas, has been able to reduce the price by redesigning the ventilator and developing a microcontroller — a small computer that controls the functioning of the whole system. OneBreath, which has already tied up with Vaatsalya Hospitals, a chain of affordable healthcare facilities in semi-urban and rural areas, will be competing with bigger rivals such as GE, Philips, Drager and Maquet.
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