SVASTEK and Dream Aerospace Raise Early-Stage Funding The following startups have announced their latest funding rounds.
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Medtech Startup SVASTEK Secures INR 2 Cr Funding Led by IAN Angel Fund
Medtech startup SVASTEK has raised INR 2 crore in a seed funding round led by IAN Angel Fund.
The funding will support the launch of SVASTEK's flagship ALLTIP-enabled NIV mask across India. The company plans to build a distributor network, expand its clinical application team, and enhance awareness through medical conferences and targeted outreach programs.
Arita Abrol, Founder of SVASTEK, expressed her excitement, stating, "This investment is a huge step forward for SVASTEK. It validates our vision of creating impactful, innovative solutions that transform global MedTech." She emphasized India's growing potential in MedTech, citing initiatives like MedTech Mitra, BIRAC grants, and Make in India projects as pivotal to the industry's evolution.
Founded in 2022, SVASTEK focuses on respiratory and critical care innovations, with a commitment to addressing gaps in current medical technologies. The company's flagship product, the ALLTIP Technology-enabled NIV mask, offers a pioneering solution for non-invasive ventilation combined with nutrition delivery, improving clinical outcomes and reducing malnutrition risks in long-term respiratory patients.
With plans to expand its product range and geographical presence, SVASTEK aims to become a global leader in respiratory care, driving innovation, affordability, and accessibility in healthcare.
Dream Aerospace Raises INR 3 Cr Funding Led by Inflection Point Ventures
Dream Aerospace, a Chennai-based aerospace and defense startup, has secured INR 3 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The funding will drive the development of the company's ATOM Thruster, validate its propulsion system, and set up an in-house High Altitude test facility.
Co-founded by Hari Krishnan KJ and Rogith S in 2022, Dream Aerospace aims to revolutionise satellite propulsion systems by offering high-performance, cost-effective, and scalable solutions for CubeSats and larger satellites. The company focuses on leveraging indigenous technology, aligning with India's "Make in India" and "Atmanirbhar Bharat" initiatives, making it a strategic partner for both commercial and defense sectors.
Dream Aerospace's propulsion systems promise superior performance at a fraction of the cost of international alternatives, addressing the growing demand for environmentally friendly and efficient satellite propulsion.
With plans to scale its production capacity to 40-50 thrusters annually, the company is positioned to support the burgeoning satellite market.
The startup claims to have already garnered recognition, including grants from TANSEED 4.0, Chunauti 5.0, and the Nidhi Prayas Program, along with accolades such as "Best On-Campus Startup of the Year" at the Indian Mobile Congress 2023.
