|By PR Newswire||
|January 9, 2014 04:00 AM EST||
BANGALORE, India, January 9, 2014 /PRNewswire/ --
Bangalore-based affordable ophthalmic technology and solutions company Forus Health Pvt. Ltd. (Forus) has successfully raised Series B funding of Rs 50 crore in a round led by Asian Healthcare Fund. Accel Partners and IDG Ventures India, the existing investors, also participated. Unitus Capital was the sole advisor to Forus for the transaction.
Forus was founded in 2010 by Dr. Shyam Vasudeva Rao and K. Chandrasekhar with a mission to address healthcare delivery issues through innovative and inclusive product design, and service deployment. Dr. Shyam was previously the Director Technology at Philips Healthcare and Chandrasekhar was previously the Director Strategy at NXP Semiconductors.
Forus' flagship product, 3nethra, is an integrated, intelligent, affordable, rugged and portable eye screening device that can screen a patient in less than 5 minutes for common eye problems. These devices are integrated with a unique cloud hosted telemedicine application called Foruscare, offering a complete eye care solution platform.
With an extremely low ophthalmologist to patient ratio in India, 3nethra has been designed so that it can be operated by a minimally trained technician, and can be deployed in remote areas, exponentially improving access to quality ophthalmic care. Due to its ease of use and superior technical and imaging capabilities, the device has gained extensive recognition within the Indian ophthalmic community and has also received widespread traction globally, with more than 220 installations across 14 countries till date and has since screened 600,000 eyes worldwide.
"Forus aims to help 20mn people in the next three years by revolutionizing healthcare delivery, adopting a prevention-centric approach and democratizing screening," said Dr. Shyam Vasudeva Rao, the President and CTO of Forus.
"Acceptance from the ophthalmic fraternity and encouragement from our marquee investors motivate us to strive towards fulfilling Forus' mission. This investment will be crucial in helping us achieve scale through strengthening our supply chain and sales networks, as well as developing new products," K. Chandrasekhar, the CEO of Forus, stated.
"3Nethra is a cutting-edge product that can address 1/3rd of the world's population that needs affordable eye testing. With their deep technology background and great execution, Forus has achieved widespread traction internationally. We are excited to partner with Forus on this journey and their success," said Anand Daniel, Principal, Accel Partners.
Ajay Kumar Vij, CEO, AHF said on the occasion, "We have been impressed with the unique value proposition and management depth of Forus as well as the social impact created by their product 3nethra. We look forward to partner with K. Chandrasekhar, Dr. Shyam V. Rao and their team in their journey of building a leading player in the medical devices space in India and globally."
"We believe Forus' pre-screening technology has the potential to be a game-changer in addressing the issues relating to preventive healthcare globally. As early investor in Forus, we are very happy to see the company scale from strength to strength and we remain committed to their chosen growth path," said Ranjith Menon, Senior Vice President of IDG Ventures India.
About Forus Health:
Forus Health Pvt. Ltd. (Forus) is a technology-led innovation company focused on preventive ophthalmic care. Its flagship products, 3nethra Classic and 3nethra Royal, can pre-screen for five ophthalmic ailments which collectively contribute to nearly 90% of the in blindness in India. Forus has seen widespread traction across the global and domestic ophthalmic community, with device installations in 14 countries across the globe.
About Accel Partners:
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedicated teams in Palo Alto, California, New York City, London and Bangalore, as well as in China via its partnership with IDG-Accel. Accel has helped entrepreneurs build over 300 category defining companies worldwide. In India, Accel has made investments in companies such as Ace Creative Learning, Babyoye, Collectabillia, enStage, Flipkart, FreshDesk, Forus Health, HealthcareMagic, Kirusa, Mitra, MuSigma, Myntra, Perfint, Power2SME, Probe, PropTiger, QwikCilver, SureWaves, TaxiForSure, Trivone, Vinculum and Virident.
About Asian Healthcare Fund:
Asian Healthcare Fund (AHF) is a New Delhi based growth-stage, healthcare focused, private-equity fund that invests exclusively into India's healthcare and life sciences sectors. AHF was founded in 2010 on the principle that healthcare as a sector is unique in terms of its investment and management complexities and requires a specialized approach. AHF invests across India's healthcare sector, and is focused on companies that are into direct healthcare delivery, indirect healthcare services, medical devices and equipment, diagnostics, pharmaceuticals, R & D services. One of the unique differentiators AHF is its strong team consisting of experienced professionals with diverse & complementary backgrounds. Specifically two senior members of the team have each spent 25 years plus building & scaling up differentiated businesses in the healthcare / consumer industry leading to a deep domain expertise in healthcare, strong business building & operational skillsets and understanding of entrepreneurial mindsets. Other two members of the team have the experience of Private Equity investing in India over multiple economic cycles in India & global markets.
Existing investments by AHF include Mydentist and Healthspring.
About IDG Ventures India:
IDG Ventures India is a leading technology venture capital fund in India. The fund is part of IDG Ventures, a global network of technology venture funds with more than $5.5 billion under management, over 220 investee companies and 10 offices across Asia and North America. By combining the IDG platform - an unparalleled combination of global publishing, market research (IDC), conferences and exhibition resources - with years of hands-on experience in early-stage company building, IDG Ventures India helps its investee companies understand their markets better and achieve leadership position ahead of competition. The IDG Ventures India portfolio companies include Apalya, Aujas Networks, eShakti, Forus Health, iCreate, iProf, Manthan Systems, Myntra, Ozone Media, Perfint, Sourcebits, Valyoo Technologies, Vserv and Zivame.
Mr K Chandrashekhar
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Mar. 29, 2017 01:15 AM EDT Reads: 2,451
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Mar. 29, 2017 01:00 AM EDT Reads: 1,071
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Mar. 28, 2017 11:15 PM EDT Reads: 3,440
"My role is working with customers, helping them go through this digital transformation. I spend a lot of time talking to banks, big industries, manufacturers working through how they are integrating and transforming their IT platforms and moving them forward," explained William Morrish, General Manager Product Sales at Interoute, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 28, 2017 09:30 PM EDT Reads: 3,820
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Mar. 28, 2017 09:30 PM EDT Reads: 2,216
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Mar. 28, 2017 08:15 PM EDT Reads: 2,325
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 28, 2017 07:00 PM EDT Reads: 4,475
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 28, 2017 06:00 PM EDT Reads: 848
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 28, 2017 03:45 PM EDT Reads: 4,146
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 28, 2017 03:00 PM EDT Reads: 2,119
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Mar. 28, 2017 03:00 PM EDT Reads: 9,646
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 28, 2017 02:15 PM EDT Reads: 2,206
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Mar. 28, 2017 02:15 PM EDT Reads: 3,695
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Mar. 28, 2017 02:00 PM EDT Reads: 14,275
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
Mar. 28, 2017 01:15 PM EDT Reads: 1,647
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 28, 2017 12:45 PM EDT Reads: 3,170
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Mar. 28, 2017 11:30 AM EDT Reads: 2,500
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
Mar. 28, 2017 11:30 AM EDT Reads: 4,729
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buyers...
Mar. 28, 2017 11:00 AM EDT Reads: 3,761
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
Mar. 28, 2017 10:45 AM EDT Reads: 3,337