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Accel, IDG back Forus Health with $5m

  • Susannah Birkwood
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Venture capital firms Accel Partners and IDG Ventures India have led a $5 million Series A round of funding for Indian medical technology company Forus Health.

Bangalore-based Forus has developed 3nethra, a pre-screening ophthalmology solution that can detect cataracts, glaucoma, diabetic retina, refraction and cornea problems in remote areas.

"We are always interested in platform technologies that can deliver healthcare cost effectively," said Ranjith Menon, vice president of IDG Ventures India. "The pre-screening technology developed by Forus holds tremendous potential and will help address issues relating to avoidable blindness globally."

Accel's Anand Daniel added that Forus' 3nethra product has the potential to revolutionize ophthalmology pre-screening. The new funding will be used to ramp up the manufacturing and sales of 3nethra and to step up the research conducted into 3nethra and other devices.

Forus is led by President and CTO Shyam Vasudeva Rao, previously a director at Phillips Innovation Center in Bangalore, and K. Chandrasekhar, previously the director of strategy at NXP Semiconductors.

In February, Accel and IDG teamed up for another healthcare-related investment, this time in GlamSmile Asia, a China-based dental clinic operator. The firms jointly invested $7 million for a 31.4% stake in the company via their IDG-Accel China Growth Fund III vehicle.

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