Highlights
SVASTEK Secures Rs 2 Crore in Seed Funding to Enhance Respiratory Care Solutions
Medtech startup SVASTEK has successfully acquired Rs 2 crore in seed funding, led by the IAN Angel Fund. The capital will be employed for the following initiatives:
- Launching the ALLTIP-enabled NIV mask across India.
- Establishing a distributor network to ensure product availability.
- Expanding its clinical application team.
- Enhancing awareness through medical conferences and targeted outreach programmes.
Founded in 2022 by Arita Abrol, SVASTEK is dedicated to tackling challenges in respiratory and critical care by providing patented solutions aimed at large-scale hospital implementation. The company strives to enhance patient care by filling significant gaps in current medical technologies.
Innovative Product Offerings
SVASTEK’s flagship innovation, the ALLTIP Technology-enabled NIV mask, presents a revolutionary approach to continuous non-invasive ventilation. This product not only allows for simultaneous nutrition delivery but also enhances clinical outcomes and mitigates malnutrition-related risks for patients requiring long-term respiratory support.
Market Potential
Market research indicates that the respiratory and critical care sector in India holds a valuation of Rs 48,500 crores (approximately $5.8 billion) and is experiencing a compound annual growth rate (CAGR) of 8.3%.
Future Aspirations
Looking to broaden its product range and expand its geographical presence, SVASTEK aspires to be a prominent figure in the global respiratory care market, championing innovation, affordability, and accessibility in healthcare.