IIT Hyderabad Bags $9.6 Mn Funding from ESKEYN Ventures & Tanushree Foundation

The funding of $9.6 million to strengthen the Centre for Healthcare Entrepreneurship and startups.

IIT Hyderabad’s Center for Healthcare Entrepreneurship (CfHE) has received funding of $9.6 million (about INR 80 Cr) from ESKEYN Ventures and Sushant Kumar, founder, Tanushree Foundation.

The CfHE, which is a nationally-recognized healthcare technology business incubator, aims to accelerate the development and adoption of breakthrough healthcare solutions to address unmet needs and improve patient outcomes.

Reportedly, the funding will be utilized to promote the indigenization of technologies in the healthcare sector.

Sharing thoughts on the investment, Sushant Kumar, founder, Tanushree Foundation, said, “The substantial investment will empower CfHE to expand its initiatives aimed at nurturing aspiring healthcare entrepreneurs, providing them with the resources, mentorship, and networking opportunities necessary to translate innovative ideas into impactful solutions.”

Healthcare Initiatives by CfHE

Healthcare challenges are becoming increasingly complex and diverse, as was evident during the COVID-19 pandemic. Initiatives such as CfHE foster a culture of innovation and collaboration by working jointly with academia, industry, and the entrepreneurial community.

Some of the key innovations that have come out of CfHE include ArmAble, which is a neuro-rehabilitation device for stroke from the start-up BeAble Health.

Another is the Nemocare Raksha, a small IoT-enabled wearable for safeguarding neonates from Nemocare Wellness. Further, Vaccine on Wheels platform enables vaccinations at the last mile with a reach of 2.5 million beneficiaries in three years from Jivika Healthcare.

Sharing his vision for the institute, Prof B S Murty, director, IIT Hyderabad, said, "We envision IIT Hyderabad to be the cradle of innovations that touch the lives of millions and create a significant impact in the society.

Medical devices and diagnostics, according to Murty, are one of the key areas of healthcare where a considerable gap exists in the supply of devices, trained workforce, and indigenous development.

He further noted that there is a critical need for innovation in medical devices and diagnostics.

“With a vision for Aatma Nirbhar Bharat and Make in India, CfHE, IITH has taken bold steps in addressing this gap through focused programs in medical devices, development of human resources, and promotion of start-ups for indigenous development of medical devices and innovations," prof Murthy added.

Recent Fundings in the Healthcare Space

In a similar development, last month, healthtech startup Ultrahuman secured a funding round totaling $35 million, comprising a blend of equity and debt investment.

The capital infusion is expected to empower Ultrahuman to ramp up its manufacturing capacity and intensify research efforts in the health tracking domain.

Another example of recent funding include, Bengaluru-based Pandorum Technologies, which concluded its pre-Series B funding round last month, securing an investment of $11 million (INR 88 Cr). Founded by Arun Chandru & Dr Tuhin Bhowmick, Pandorum specializes in tissue engineering and regenerative medicine.

The infusion of fresh funds is expected to advance Pandorum’s technology platform for liver, lung, and neuronal tissue regeneration. The investment aims to propel the company towards the clinical phase of its flagship product, Kuragenx, designed to treat corneal blindness.