Post-funding Forus plans new products, team expansion

Bangalore-based Forus Health, which raised $5 million in Series A funding from IDG Ventures India and Accel Partners last week, will launch a slew of new products for the ophthalmology screening market in the next 12 months. It also plans to boost its research and development team from the current 20 people to about 30 and grow the sales team to about 12 people from one now.

Forus was founded about two years ago by BITS Pilani alumni KC Chandrasekhar about two years ago. Chandrasekhar earlier spent 20 years leading business development, strategy and operations in companies such as NXP Semiconductors, Philips and Alliance Semiconductors. The company’s flagship product 3nethra is a portable, low-cost, non-invasive pre-screening ophthalmology solution that can detect diseases such as cataract, glaucoma, diabetic retina and cornea problems. Such diseases contribute to 90 per cent of preventable blindness in India.

Each unit of 3nethra retails at between Rs 5 lakh and Rs 6 lakh and the company has sold 30 units till date, said a company spokesperson in an email responding to queries from StartupCentral. “This is one sixth of the total cost if one has to buy all the equipment with individual functionalities,” said the spokesperson. Forus’ closest competitors are ophthalmology devices such as Topcon, Zeiuss. “In a sense, 3nethra is addressing the pre-screening space and not diagnostic s and we don’t have a direct competition for the same at present,” said the spokesperson. The company has also filed for four patents for 3nethra, which are currently pending approval. Typical buyers of the device include ophthalmology hospitals, clinics, diabetic centers and general practitioners. For its manufacturing needs the company uses contract manufacturers .

Prior to raising funds from Accel and IDG, Forus has raised an undisclosed amount as angel funding from a group of individual investors, whose identities have not been disclosed.

Image Courtesy: Forus Health