Monitra Health, the medtech company behind upBeat® – a full-stack remote cardiac monitoring platform – has closed a new round of funding led by IAN Group, with participation from New Age India Fund, Lavni Ventures, VCMint, Global HealthX (led by Dr. Ravindranath Kancherla), We Founder Circle, Hyderabad Angels, and prominent angels and family offices of healthcare operators including Dr. Ramesh Kancherla.
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Monitra Healthcare Founders – From L to R – Sashank Bhogu, Aparna Bhogu and Ravi Bhogu
The round marks a strong vote of confidence in Monitra’s clinical maturity, IP depth, and global ambition. When Monitra Health closed its funding round in December 2023, the story was about potential. Two years on, that thesis has been decisively validated. Monitra is no longer building the category – it is defining it.
Expanding clinical and commercial scale
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50,000+ patients monitored on the upBeat® platform – a 5x jump from 10,000 at the time of the previous round, reflecting both deeper hospital adoption and broader physician preference.
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10+ billion heartbeats analyzed, one of the largest proprietary high-resolution continuous ECG datasets.
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Revenue has grown 11x over the past four years, driven by disciplined execution, capital efficiency, and an expanding base of prescribing clinicians.
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Leading hospital adoption: trusted by marquee networks & clinicians from Manipal, Apollo, Aster and AIG, with an expanding footprint across Tier 1-Tier 4 cities in India.
A rare full-stack category position
Remote cardiac monitoring is projected to grow from USD 4.1 billion in 2024 to USD 12 billion by 2034 (11.3% CAGR, Market.us 2026). Yet the full-stack opportunity – owning the device, signal-acquisition technology, clinical reporting workflow and analytics layer – remains concentrated among a small handful of incumbents globally. Monitra is among a small group of companies globally to have built a full-stack platform end-to-end to have built that full stack end-to-end, powered by its proprietary XtremeSpan™, NanoVue™ and DeepFind™ technology and a dataset of billions of real-world heartbeats. This vertical integration drives upBeat®’s diagnostic precision, cost advantage and scalability – and makes the company structurally hard to replicate.
Why clinicians, hospitals, and global talent are aligning
Seasoned global medtech operators and leading cardiologists and electrophysiologists are aligning with Monitra as advisors, collaborators, and champions. For hospital systems, upBeat® is both a clinical and commercial lever: continuous monitoring captures arrhythmic events that short-duration tests miss – improving diagnostic yield, accelerating the path to the right intervention, and driving better patient outcomes – while opening a recurring, reimbursable revenue stream for cardiology service lines that scales with no proportional increase in clinician time or operational overhead.
The road ahead
Monitra enters its next phase of growth from a position of unusual strength for a medtech company at this stage – a proven product, growing clinical footprint, 11x revenue growth, strong IP, a maturing international regulatory pathway, and a category position rare anywhere in the world. The focus over the coming quarters is clear: accelerate global certifications, scale commercial reach within India, and continue building the clinical, scientific and organizational depth of a company operating on a global stage.
In their words:
“Our last round was about proving this could work. This one is about proving it can work everywhere. Crossing 50,000 patients, analyzing over 10 billion heartbeats, and growing revenue 11x has moved upBeat® from a promising platform to an indispensable one for a growing number of clinicians. We are grateful to this set of investors for backing that future with us,” Ravi Bhogu, Founder & CEO, Monitra Health.
“We are truly upBeat about our investment in Monitra Health. It is rare to find a company that combines strong IP, patented technology, cost advantage, and a world-class product built in India for global markets. With growing adoption among leading hospitals and cardiologists, Monitra has demonstrated both innovation and execution. We believe the company has the potential to become a global leader in cardiac monitoring – from India to the world,” Avinash Kalia, New Age India Fund.
“We first backed Monitra when the thesis was still being tested. Doubling down today is one of the easier decisions we have made — the clinical footprint has scaled 5x, revenue has grown 11x, the IP has deepened, and the team has stayed remarkably disciplined with capital. Monitra has exactly the kind of deep-tech healthcare solutions India should be exporting to the world,” Vasu Guruswamy, Co-founder & General Partner, Lavni Ventures.
“As practicing clinicians, we see the diagnostic gap in heart rhythm disorders every day. What Monitra has built is genuinely rare — a device and reporting workflow that is clinician-grade in accuracy, patient-friendly in design, and affordable enough to reach the populations that need it most. Global HealthX is privileged to support this team as they take it worldwide,” Dr. Ravindranath Kancherla, Global HealthX.
About Monitra Health
Monitra Health is building upBeat®, a full-stack remote cardiac monitoring platform and one of the few vertically integrated players in the global category. By owning the stack across wearable hardware, proprietary signal-acquisition technology, cloud software, analytics and clinical reporting, Monitra has created a defensible position in a fast-growing global category. Monitra’s innovation is backed by patents granted in the United States, Australia and India, with additional filings underway.
Learn more at www.monitrahealth.com.
