Kstart invests $600,000 in two start-ups
New Delhi: Kstart, a start-up accelerator initiative of venture capital firm Kalaari Capital, has invested $100,000 in health-tech company Advenio Technosys Pvt. Ltd and $500,000 in rental marketplace GuaRented Rentals Pvt. Ltd, the company said in a statement on Tuesday.
Advenio, founded by Mausumi Acharyya, has developed artificial intelligence-based disease detection platforms. The technology uses clinical imaging techniques where images can be screened on portable medical devices to diagnose diseases such as oral and cervical cancer, among others.
Advenio aims to enable improve healthcare outcomes through early detection and management of diseases, Acharyya said in a statement.
GuaRented is a crowdsourcing marketplace to rent consumer durable products. Founded by Harshwardhan Raikwar and Abhimanyu Dixit, the marketplace brings together a group of users who contribute money to buy a product that is then taken on rent by another user.
Individuals who fund the asset earn returns in the form of rent from the user of the asset.
Kstart, launched in February this year, began with a corpus of $20 million to invest $100,000-500,000 in start-ups via convertible equity instruments in next two years, Mint reported in May.