Bangalore, Dec 27 (UNI) IDG Ventures India, a early-stage technology venture capital fund and Erasmic Venture Fund, today announced an investment of 3.5 million in Perfint, a Chennai based healthcare devices startup having its labs in Mysore.
Perfint would focus on developing niche healthcare products and solutions that address clinical productivity needs globally. It's first product PIGA a tool positioner for image guided minimally invasive (IG-MI) procedures.
Company CEO S Nandakumar told newspersons that Perfint had developed five IPs so far and its first product had been put on clinical evaluation in five hospitals.
"PIGA is the most cost effective tool that support fine needle aspiration, biopsy and RF ablation of small tumors in the lung and abdomen. The product will be launched in India early next year and it would be amongst the earliest positioning devices available globally, for such soft tissue procedure," he said.
He said the company would give special focus on emerging markets like India, China, Eastren Europe and Middle East and then enter developed countries like the US and Europe.
IDG Ventures CMD Sudhir Sethi said Perfint was well placed to be a leader in the domain due to the disruptive nature of its products.
"This is the first of our many life science engineering investments in India. The global market for minimally invasive image-guided interventions is currently over three billion Dollars," he said.
Currently less than 15 per cent of all surgeries were performed using IG-MI approach. With the increasing healthcare awareness and ever improving hospital infrastructure across the world, guided procedures for early stage cancer diagnosis and drug delivery would offer companies like Perfint a huge opportunity, he added.