PE-VC Fund Investments
IHF acquires 21% stake in eye-care focused medical devices maker Forus Health
Business Standard Economic Times Kshema Business Line
Inviga Healthcare Fund (IHF), the private equity platform founded by HCG’s B S Ajaikumar, has acquired a 21% stake in Bengaluru-based eye-care-focused medical equipment maker Forus Health . This is Inviga’s second major investment, following its backing of Mynvax in 2024.Forus Health develops and provides ophthalmic technology and telemedicine solutions to make eye care accessible and affordable. It sells devices across 75 countries, and its digital platform, integrated with AI for ocular and oculomics analysis, has delivered eye diagnostics to over 5 million patients worldwide.Hyderabad-based Kshema General Insurance has raised USD 20 million from the Green Climate Fund (GCF). This is GCF's first investment into a microinsurance initiative.Founded in 2018 by Natraj Nukala, Kshema provides crop insurance to farmers with products designed to protect against natural perils.The new funds will be used to expand insurance coverage for uninsured farmers. The investment will also enhance the company's capacity to underwrite crop risks associated with climate volatility and support the expansion of the Kshema Cognitive Engine, its proprietary technology platform -designed to deliver customised insurance solutions and advisory services, including weather alerts and crop health insights.Tata Capital has raised a revolving facility of USD 15.85 million from the Green Climate Fund (GCF), along with an additional USD 3 million grant. This funding is supplemented by Tata Capital's own contribution of USD 47.6 million, meant for supporting climate-focused startups.The initiative aims to provide more affordable financing for emerging entrepreneurs to scale their green technologies. The revolving nature of the facility ensures that as startups repay their loans, the funds will be reinvested to finance new ventures, providing continuous support.This collective effort is expected to result in the reduction of over 1.1 million tonnes of CO2 emissions. Additionally, it is projected to benefit nearly 2.9 million people through various climate adaptation and mitigation endeavours.
Between Apr 2012 and Jan 2020, Forus Health had attracted about USD 18 M from TEAM Fund, Accel India, Asian Healthcare Fund and others. Crop insurance co. Kshema raises $20-M from Green Climate FundFor FY25, Kshema had reported about INR 52 Cr in Operating Income and about INR 38 Cr in PAT. Tata Capital attracts $16-M from Green Climate Fund to back climate startups
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