Get All Access for $5/mo

Yostra Labs Raises INR4 Crore In Seed Funding Round Led By IAN Funds will be utilized to increase its workforce by expanding in-house sales and marketing teams

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Yostra Labs, on Tuesday announced to have raised INR4 crore in a 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. Funds will be utilized to increase 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 commercialization of the product portfolio, optimizing the bill of material, and scaling up the production.

"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," said Vinayak Nandalike, founder, Yostra Labs.

"Proper care and treatment are required in various stages of diabetes. Yostra has a portfolio of patented products with focus on diabetes neuropathy that can save complications and enhance 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," said Venkataraman KNK, lead investor, IAN.

The Advanced Wound Care Market, currently at $10.3 billion is expected to grow at a compounded annual growth rate of 9.8 per cent, driven largely by an increasing focus on innovation. Yostra has a portfolio of patented products that have been backed by fundamental research. Yostra's patented portfolio of products includes Neuro Touch, a point of a care screening device for peripheral neuropathy, and Velox Care, an advanced wound care product for the treatment of chronic wounds. Founded in 2014 by Vinayak Nandalike, Mohan Rao, Dr. Sanjay Sharma and Dr. Maruthy, the startup aims to bring a change with devices that help in the management of major chronic diseases. It 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.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

Huddle Ventures Fund II Oversubscribed at INR 100 Cr

With an average USD 500k entry check and follow-on investments of up to USD 1 million per firm, the Gurugram-based firm hopes to make 20 investments from Fund II.

News and Trends

Palette Brands, Clapingo, and Finsall Raise Early-Stage Funding

Here are the Indian startups that announced early-stage funding rounds.

Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Business News

Y Combinator Helped Launch Reddit, Airbnb and Dropbox. Here's What I Learned From Its Free Startup School.

The famed startup accelerator offers a free course on building a business — and answers five pressing questions for founders.