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IAN Group leads seed round in medtech startup SVASTEK

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IAN Group leads seed round in medtech startup SVASTEK

Medtech startup SVASTEK has raised Rs 2 crore in a seed funding round led by IAN Angel Fund. The funds will be utilized to launch the ALLTIP-enabled NIV mask across India, build a distributor network for product availability, expand its clinical application team, and drive awareness through medical conferences and targeted outreach programs, SVASTEK said in a press release. Launched in 2022 by Arita Abrol, SVASTEK is a healthcare startup focused on solving challenges within respiratory and critical care through patented solutions designed for large-scale hospital use. The company aims to empower patient care by addressing critical gaps in existing medical technologies. According to the Delhi-based company, its flagship product, the ALLTIP Technology-enabled NIV mask, offers a groundbreaking solution for continuous non-invasive ventilation while allowing simultaneous nutrition delivery, improving clinical outcomes and reducing malnutrition-related risks in patients on long-term respiratory support. As per market research, the respiratory and critical care market in India is valued at Rs 48,500 crores (about $5.8 billion) and is growing at a CAGR of 8.3%. With plans to expand its product portfolio and geographical footprint, the company aims to establish itself as a global leader in respiratory care, driving innovation, affordability, and accessibility in healthcare.

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