Bangalore based OneBreath, a medical devices company is set to raise $3 million from a consortium of investors led by eBay’s Pierre Omidyar (source). OneBreath is developing low cost portable ventilators scheduled for launch by next year.
Omidyar, the founder of eBay, has invested close to $100 million in early stage ventures since 2009 in India (including Aspiring Minds, Quikr). His philanthropic firm, Omidyar Network, has invested in seven early stage affordable health care deals in India, Jasjit Mangat, the director of investment at Omidyar Network told India Ink’s writer.
The network has been investing health care companies through a $17 million SONG Fund for which it has partnered with Google and George Soros’ Economic Development Fund and Elevar Equity.
Onebreath’s founder A Vijay Simha says that the company plans to apply for US FDA approval in 2013 and will setup manufacturing facilities in India and China. Onebreath manufactures low cost ventilators to be sold in developing countries.