The healthcare group addressing health issues in developing countries, UE LifeScience, has raised funding from Unitus Seed Fund to set up Breast Cancer Detection Devices. UE LifeSciences will receive initial funding of INR 50 lakhs ($80,000) and a potential follow-on investment of at least INR 1 crore ($160,000).
The company has invented iBE (intelligent Breast Examination), a low-cost, portable breast screening device which has potential to save the lives of 10’s of lakhs of women in India through early-stage detection of breast cancer.
“We are very pleased with the results from the initial trials we’ve conducted in the USA and India, and will be using the new funding to expand our trials and implement our go-to-market investments in India,” says Mihir Shah, Co-Founder and CEO of UE LifeSciences.
UE LifeSciences was selected to join Unitus Seed Fund’s India StartHealth investment program. This program was set up by Unitus Seed Fund in collaboration with Pfizer Inc., PATH, Manipal Hospitals and Narayana Health in early 2015 and provides up to INR 10 crore in grants and investments to very early-stage technology driven healthcare startups in India.