Category: News

Early stage investment firm Anthill Ventures and Bengaluru-based cancer care provider HealthCare Global (HCG), have shortlisted six startups for their healthtech focused accelerator program, Lumos Health. 

The selected startups include AI-enabled radiology diagnosis solution Alixir, pulse diagnosis application AyuRythm, equipment trading platform BiMedis, human cell sampling tool C-Test Medicals, wound and tissue analysis system Kronikare, and non-wearable sleep and breathing baby monitor Raybaby. 

The 12 month accelerator program was launched in the late 2018, and has since then, recieved over 120 applications from across 10 countries. Lumos Health will help the selected startups to raise investments, assist them in getting regulatory approvals and provide mentoring to increase the startup’s customer base and help in generating more revenue. 

Lumos will also take advirsory equity in the selected companies, depending on the startup’s current funding stage and valuation. 

Prasad Vanga, founder and CEO of Anthill Ventures said, “We will help these startups to scale into globally markets as some of them will work on real use-cases, and deploy their products in real client engagements through our tailored market access program.”

The program claims to provide market access in India, Africa, Middle East, and Southeast Asia. The focus sub-sectors of the program include oncology, fertility, genomics, bionics, and research & diagnostics, among other emerging sectors. 

Anjali Ajaikumar, program director of Lumos Health and vice president of HCG said, “Under the Lumos Program, startups will enhance their product, have impactful interactions with our 30+ partner companies in both the local and global network and see how their company is making a difference in the quality of health and patient care.” 

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Find out more at inc42.com.

The five-week program will be focusing on key aspects in the growth of startups

Bengaluru-based venture capital fund Chiratae Ventures on Wednesday announced the names of the startups selected in the seventh edition of its Innovators Program. The program witnessed participation from over 500 homegrown startups for their five-week foundational initiative which seeks to empower seed and early-stage founders.

The selected startups represent a wide range of industries, including consumer tech, software, healthtech, deeptech, and fintech. The first 19 startups selected through the program are AyuRythm, Inspektlabs, Quollab, Euphotic Labs Pvt Ltd (Nosh), Chainflux, VogueMe Technologies Pvt Ltd (Toch.ai), Code Test Pvt Ltd (CodeTest), PhySarum, Vyorius Drones LLP (Vyorius), Zealth, Heyy.life, Ai Health Highway India Pvt Ltd (AiSteth), Rightbot Private Limited, Retail Pulse, Mowito, Whrrl, Escrowpay, Insurance Samadhan, and Ark Neo Finance.

“Our Innovators Program is rooted in our commitment towards strengthening our homegrown startup ecosystem. We are happy to have received a large number of applications this year. It is truly inspiring to witness the grit and determination of founders who are working towards scaling innovative solutions that aim to shift paradigms and create real value,” remarked Chiratae Ventures founder and chairman Sudhir Sethi, while commenting on the announcement.

The five-week program is focused on key aspects in the growth of startups including market analysis, team building and culture, technology, product, market entry and expansion, and fundraising. The program also hosts tech experts and industry evangelists to create a high-level learning and knowledge-sharing experience for all participants. Through the program, the selected startups also gain access to both local and global markets via the company’s corporate collaboration partners.

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Find out more at entrepreneur.com.

The government’s healthtech agency worked with a local startup to adapt a commercial wound-scanning device, as the city stepped up measures against COVID-19.

Singapore has launched an AI tool to automate temperature screenings, developed by its healthtech agency IHiS and a local startup called Kronikare.

“IHiS and Kronikare co-created the iThermo solution in two weeks. It is being piloted now and the results are encouraging,” said Bruce Liang, CEO of IHiS.

It launched this week, as Singapore saw snaking queues for temperature screenings to enter office buildings. The government has asked businesses and building managers to step up measures, after it raised the COVID-19 infection alert to the second highest level last Friday. The total number of confirmed cases in Singapore stands at 58, with no deaths registered.

The device offers a quicker and safer alternative to manual forehead thermometers, currently the most popular option. It scans people’s temperature as they walk by and alerts staff to those with higher temperatures. Visitors wouldn’t have to stop to be measured. It’s also safer for frontline staff as they are less likely to come in contact with people with undetected infections, and needs one or two people to operate.

iThermo has been used at IHiS’ office and St. Andrew’s Community Hospital to scan visitors and staff since early this week. It’s now commercially available as a pilot device for S$1,000 per month and has been certified as a Class A medical device by the Health Sciences Authority on 3 February.

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