The company will use the funds for penetrating new markets, investing in further product development for critical care setting and growing customer reach. “The majority of the funding is going to building the sales in India and the US. We also have a bunch of other products in the pipeline, which we plan to launch in next one to three years,” said Nishith Chasmawala, CEO, Consure Medical.
The company wants to target Japan as its next market. The startup has also recently launched its product platform — the Qora Stool Management Kit (SMK) and has received 510(k) US FDA clearance for its Qora suite of devices.
Qora, the faecal incontinence management technology, was initially developed as part of the Stanford India Biodesign programme, and was designed to improve upon outcomes of currently available faecal management products. Consure’s flagship product, Consure 120 SMS, had previously received clearance in 2014. Consure has added to this product line a short-term product, Qora Arida, and two long-term products, Qora Aeon and Qora AIM, which is MRI-compatible.
These three line extensions offer an expanded faecal management portfolio for complex critical care patients and long-term acute or nursing care patients. The new clearance allows for expanded use period for these devices, for up to 29 days.
Source: The Economic Times