Social enterprise incubator Villgro has invested an undisclosed amount in three social enterprises—OneBreath, Ecozen Solutions and Artoo. Apart from equity, the incubator will provide mentoring, access to network and talent for these start-ups.
“We are excited to find a potent combination of technology innovation, entrepreneurial spirit, financial viability and scalability in these three companies that will create long-term social impact spanning the healthcare, energy, agriculture and financial inclusion sectors,” said Pinaki Bhattacharyya, chief investment and incubation officer, Villgro.
Medical device company OneBreath is developing an innovative low-cost mechanical ventilator intended to improve acute ICU care. Ecozen Solutions focuses on applications of distributed power generation for agriculture and rural communities. Artoo has developed an android and cloud-based platform that allows financial institutions to take all field processes online.
“Villgro has always sought out innovative companies with the potential for tremendous social impact, run by passionate entrepreneurs. These investments mark the next stage of growth, not only in the journey of these companies, but also in Villgro’s incubation and investment portfolio,” says Paul Basil, founder and CEO of Villgro.
Earlier this year, Villgro had invested an undisclosed amount in Windmill Health Technologies, which creates low-cost innovations for the healthcare sector.
Villgro, which supports entrepreneurs and social enterprises during early stages of their growth, has incubated 94 enterprises since it started in 2001. The fund has secured Rs 20 crore in follow-on funding.
(Edited by Joby Puthuparampil Johnson)
