Mar 24, 2014

Venture Capital | 24 March 2014 Hyginex Secures Funding From Persistent Venture Fund by Sejal Mourya   @Sejal Pune based Persistent System has invested an undisclosed amount in California based startup Hygenix. The investment was done through its VC arm which will help Hyginex to expand its footprint in US and foray into international markets. Founded in 2008, Hyginex is a healthcare technology startup which developed a sensor equipped wrist watch that alerts and reminds hospital staff to wash hands. The bracelets trace all the data and upload automatically to a server where managers and staff members can generate their reports and also track progress. Persistent’s fund is focused on providing early stage companies from around the globe with seed capital for promising technology ventures and staged supporting innovation in social, mobile, analytics and cloud computing (SMAC) technologies. The fund normally invests $100-$250K in a round. Last year in December, it had invested in two US companies, the debut investee was ustyme, a free, video-call app for iPad that creates shared experiences through quality content, like books and games and its second investment was in Boston based DxNow, a company which is developing microfluidic and imaging technologies for point-of-care diagnostic solutions. Recently, Bangalore based medical devices company OneBreath had raised $3 Mn from Ventureast Tenet Fund and angel investors. Also, Asian Helathcare, Accel Partners and IDG Ventures had invested R50 Cr in ophthalmic screening device company, Forus.