IDG Ventures India Invests $ 3 Million in Perfint

IDG Ventures India announced an investment of $ 3 million in Perfint, a Chennai/Mysore based healthcare devices start-up. Perfint has been co-founded by Mr. S Nandakumar, Mr. B D Vijaya and a team of healthcare device professionals that were closely associated with building GE Healthcare's Design, Manufacturing and Sourcing hub in India.

Perfint will focus on developing Niche Healthcare Products and Solutions, that address Clinical Productivity needs globally with a special focus on Emerging Markets like India, China, amongst others and subsequently developed markets like USA, Europe etc.  Their first product called PIGA, is a Tool Positioner for Image Guided Minimally Invasive (IG-MI) procedures. Some of the clinical applications that PIGA supports would be, Fine needle aspiration (FN A), Biopsy and RF Ablation (RFA) of small tumors in the lung and the abdomen. PIGA, to be launched in India in early '08, would be amongst the earliest positioning devices available globally, for such soft tissue procedures. PIGA is under clinical evaluation at this moment.

Mr. Sudhir Sethi and Mr. Ranjith Menon will join the Board of Directors at Perfint representing IDG Ventures India.  Mr. Sudhir Sethi has over 25 years of operating, investment and Board experience and is credited with seed funding Mindtree Consulting and more recently ConnectM.  Mr. Ranjith Menon focuses on engineering services as Investment Advisor at IDG Ventures India and has prior experience in design and manufacturing domain.