Forus Health, a Bangalore based affordable medical technology and solutions company, has successfully raised Series A funding of $5 million from Accel Partners and IDG Ventures India.
The company addresses healthcare delivery issues in the developing world through innovative, inclusive product design and service deployment. At Forus they believe in a transformation of healthcare from being cure-centric to prevention-centric. Hence, they focus on the development of technologies for early screening. Healthcare delivery is a serious problem faced by emerging countries and innovative technology can be a major part of the solution. A critical factor is the very low doctor-to-patient ratio (1 doctor for every 1,720 people in India) coupled with illiteracy, lack of rural reach and scalability.
The company is led by two deeply experience technology professionals, Dr. Shyam Vasudeva Rao and K Chandrasekhar. Dr Shyam holds a doctorate from IISc and used to be the Director Technology, Phillips Healthcare at Phillips Innovation Centre in Bangalore. Chandrasekhar is an alumnus of IIMC and BITS, Pilani and used to be the Director of Strategy at NXP Semiconductors.
The recently raised funds will be used to drive manufacturing and sales of the 3nethra and to accelerate research on the product as well as other devices. 3nethra is a portable, low cost, non-mydriatic, non-invasive pre-screening ophthalmology solution that can detect several diseases, be deployed in remote areas and operated by minimally trained technicians.
The company’s vision is to:
- reach at least 20 million people in the next 3 years
- transform lives of at least 1 million people in the next 3 years
- build a scalable and profitable business, exceeding expectation of all stakeholders
and they definitely on a good way to achieve those goals!
Social Entrepreneurship in Asia 