Biofi was founded in Aug 2018, with a vision of creating a socio-economic impact in the healthcare domain, with a focus on user-centric, data-driven decisions and improved health management. Within a short span of time, they were able to pull together the right set of a talent pool to execute this, with the shared vision. They are the first company in India to focus on a totally non-invasive blood glucometer, which is both user-friendly and affordable, which also helps the user to make data-driven decisions, thereby managing his/her health better. They have presented their vision and development of the product in various platforms, both at the national level and internationally, and have been genuinely recognized for our efforts in building this product and for the technical capabilities of our team. This is reflected through the seed-funding offered by Kaaj Ventures, government grants through Elevate 100 and funding from IIT Mandi through the IIT Mandi Catalyst program, which is in the pipeline.
In 2019, Biofi started with Incubation at IIT Mandi and utilized technical mentoring for upgrading and testing the efficiency of their product before taking it to the market. Recently, they raised a seed fund of 50 Lakhs from Catalyst under NIDHI Seed Support. They have been recognized by Startup Summit 2019, and MedTech Actuator, Australia through MedTech’s Got Talent event in Dec 2019 and they are in conversations with them for investments and collaborations with hospitals in Victoria, Australia. With all these positive notes, they plan to get this product into the market by the end of this year, changing millions of lives in our country first, followed by propagation to the rest of the world.