Aiming to expand into new markets and develop its products, healthcare startup Consure Medical has raised an undisclosed amount in Series- B funding led by VC firm Accel Partners. Earlier investors, Indian Angel Network, India Innovation Fund and India Venture Partners, also participated in the round.
Nishith Chasmawala, CEO, Consure Medical, “The company will use the funds for penetrating new markets, investing in further product development for critical care setting and growing customer reach. “The majority of the funding is going to building the sales in India and the US. We also have a bunch of other products in the pipeline, which we plan to launch in next one to three years.”
The company further revealed its plans to enter the Japan market next. It has also recently launched its product platform — the Qora Stool Management Kit (SMK) and has received 510(k) US FDA clearance for its Qora suite of devices.
Qora is the faecal incontinence management technology, which was initially developed as part of the Stanford India Biodesign programme, is designed to improve upon outcomes of currently available faecal management products. Consure’s flagship product, Consure 120 SMS, had previously received clearance in 2014.
Consure has also added to this product line a short-term product, Qora Arida, and two long-term products, Qora Aeon and Qora AIM, which is MRI-compatible. These three line extensions offer an expanded faecal management portfolio for complex critical care patients and long-term acute or nursing care patients. The new clearance allows for expanded use period for these devices, for up to 29 days.
