InnAccel Technologies, a Bengaluru-based medical technology innovation platform for global emerging markets, announced that it has raised $1.5 million in a pre-Series A funding round led by Mount Judi Ventures, along with participation from Siraj Dhanani and A Vijayarajan.
The startup plans to use the funds in commercialising its products in India and other emerging markets. The firm is also looking to explore out-licensing or partnership opportunities with large medtech companies.
“MJV, through its connections, provided us in gaining access to a few large hospital chains, and their feedback has helped us in developing new use cases for our products. We believe MJV will be a partner who can help us commercialise in emerging markets and initial introduction in developed markets,” said Siraj Dhanani, CEO of InnAccel.
Founded in 2012 by Vijayarajan A, InnAccel identifies critical, unmet, healthcare needs, using the Stanford Biodesign process, and works on selected clinical needs with large global markets. The startup is focused on transforming healthcare and attaining global leadership in medical technology for emerging markets, by 2025.
In 2019, InnAccel merged its operations with its two incubatees, Coeo Labs and Sattva MedTech, to form a single entity with a portfolio of life-saving products addressing unmet medical challenges in emerging markets.
“InnAccel has done an excellent job identifying unmet critical needs in healthcare and coming up with world-class products that have already demonstrated their life-saving potential. We, at Mount Judi Ventures, are excited to be partnering with them in taking these products to markets that have the greatest needs and in helping them come up with better and newer products in the future,” added Sherif Kottapurath, Managing Partner of Mount Judi Ventures.
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