Medtech & Biotech startup EzeRx has announced that it has raised Rs 1.75 crore in a seed funding round led by Odisha-based incubator KIIT-TBI, according to YourStory report. Post investment, the startup is valued at Rs 12 crore. The company will use the seed funding to boost expansion.
Other angel investors include Sudip Row Chowdhury, Sri Krishna Chakravarty, Manoj Patra, and Shradha Sharma, YourStory Founder and CEO, also participated in the funding round.
Commenting on the development, Partha Pratim Das Mahapatra, Co-founder and CEO, EzeRx, said, “We will invest the funds towards team building, regulatory compliance, manufacturing facilities, and working capital.”
Founded in 2018 by Partha Pratim Das Mahapatra, Chaitali Roy and Amit Mandahar, EzeRx develops and manufactures highly advanced Medical Devices and innovative solutions, designed for the effective management of curative and preventive Healthcare. It provides easy and painless diagnostic solutions for identifying primary health parameters at an early-stage for detecting liver and lungs problems or even nutrition problems like anaemia.
Speaking about the investment, CEO of KIIT-TBI Mrutyunjay Suar said that the startup is focussed on building affordable diagnostic devices and integrating the concept of digital health, and the incubator has been supporting EzeRx along the way.
“We, at KIIT-TBI, supported EzeRx with PRAYAS grant of Department of Science and Technology, Government of India, BIG grant, and LEAP funding of BIRAC, GoI, and provided access to prototyping facility, clinical trials, and regulatory compliance,” Mruntyunjay added.
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