Stasis Labs, a cloud-powered health monitoring company, has raised $5 million in its seed investment round led by RTP-Healthcare Ventures, the healthcare-focused investment arm of RTP Ventures.
The round also saw participation from Wonder Ventures, Techstars Ventures, and others.
The funds will be used for expanding throughout Indian hospitals and prepare to enter the US and other markets worldwide, according to a press statement.
As a part of the investment, Milena Adamian, who heads RTP-HC, will be joining the company’s Board of Directors.
"Stasis has great potential, with clear and distinct value proposition for the world's biggest healthcare system, the US, and for the fastest growing healthcare economies, such as India and Southeast Asia,” said Adamian.
In June, Stasis graduated from the Techstars Healthcare Accelerator. The company was recently endorsed by the International Finance Corporation, part of the World Bank Group, to improve and expand the reach of medical technology worldwide.
Stasis has built a cloud-connected vitals monitoring system that enables access to a fundamental medical tool around the world. The Stasis System is currently live in multiple hospitals in Bengaluru.
Stasis Labs was co-founded by Dinesh Seemakurty and Michael Maylahn, alumni of University of Southern California, in 2015.
In the medical devices segment, venture capital firm Accel Partners has invested in Consure Medical Pvt. Ltd in a fresh funding round for the healthcare devices maker in May this year.
In March, Home healthcare services provider Portea Medical acquired home medical equipment provider Health Mantra India Pvt Ltd for an undisclosed amount in cash and stock.
Tricog Health, which has built technological devices that help doctors detect a heart attack within minutes of a patient's arrival, raised funds in a Series A round from Inventus Capital Partners, Blume Ventures and a group of angel investors in August this year.
Other funded players in the sector include Trivitron Healthcare, Forus Healthcare, Perfint Healthcare, Relisys Medical Devices and Biorad Medisys.
Like this report? Sign up for our daily newsletter to get our top reports.