Early-stage impact investor Menterra Venture Advisors Pvt. Ltd has invested $2 million (about Rs 14 crore) in four companies, it said in a statement.
The firm invested in healthcare companies OmiX Labs and Adiuvo Diagnostics, education company Stones2Milestones and an agri-tech startup whose name it didn't disclose.
Menterra didn’t reveal the amount it invested in each company.
Bengaluru-based OmiX Labs, run by Omix Research and Diagnostics Laboratories Pvt. Ltd, is developing a platform for cost-effective DNA testing for pathogens, outside of laboratory settings. This platform is being developed for use in diagnosis and management of infectious diseases, food testing, and water and environmental testing.
Chennai-based Adiuvo Diagnostics Pvt. Ltd uses a machine learning-enabled non-invasive and portable device that uses multi-spectral imaging for wound care and detection of skin infections, according to the statement.
Both OmiX Labs and Adiuvo Diagnostics are incubated by Villgro.
Gurugram-based Stones2Milestones Edu Services Pvt. Ltd helps children develop English-reading skills through innovative methods. It has a proprietary reading program called Wings of Words. The company had raised funding from US-based early-stage investment firm Unreasonable Capital and individual investors in 2017.
“Menterra was formed to use the power of technology to deliver impact at scale by improving the quality of farming, healthcare and education in our country with focus on aspiring underserved consumers,” said Mukesh Sharma, co-founder and managing director of Menterra Venture Advisors. “We will continue to broaden and deepen our platform with focus on agriculture, healthcare and education,” he said.
Menterra said that, along with these investments, it has a portfolio of 10 companies. It is close to completing the deployment of its first fund–Menterra Social Impact Fund.
Menterra Venture had marked the final close of its debut fund at Rs 50 crore ($7.74 million) in June 2017. Its focus areas are agriculture, healthcare and education.
It has previously invested in online learning startup Math Buddy, skill development platform Leap Skills Academy, med-tech startup Biosense Solutions, and ed-tech startups Curiositi and Chrysalis.
