Motilal Oswal Alternates said today that it had invested $72 million in Sensa Core, a medical devices startup focusing on expanding healthcare technology in India.

Sensa Core was founded in Hyderabad in 2006 by Dr. Ravi Kumar Meruva and specializes in the design (IP-driven), development, production, and marketing of specialized in-vitro diagnostic instruments.

The company claims to have gained widespread adoption in over 40,000 hospitals/diagnostic labs in India and exports to over 78 countries.

Sensa Core also provides glucometers, hemoglobin meters, and has lately expanded into arterial blood gas analyzers. It has a specialized manufacturing site in Hyderabad’s Export Promotion Industrial Park, Pashamylaram, and will open a new facility in Medical Device Park, Sultanpur, Hyderabad, to increase capacity and capability for new products.

The fresh investment will allow Sensa Core to expedite product development and extend its global footprint.

Rohit Mantri, Managing Director and Co-Head of Private Equity at Motilal Oswal Alternates, stated that “India imports more than 75% of its medical devices, with annual imports exceeding $8.5 billion.” We are committed to promoting indigenous development and manufacturing in India for local requirements as well as ‘Make in India’ exports to the rest of the world.Sensa Core symbolizes India’s new era of domestic medical device champions, fueled by increased demand for high-quality, cost-effective, and globally competitive goods.”

Dr. Ravi Kumar Meruva, Sensa Core’s Chairman & Founder and current Managing Director, stated, “We are excited to enter the next phase of product innovation – advancing manufacturing automation while driving the conceptualization and execution of a diverse portfolio of point-of-care products.” Sensa Core, founded on extensive experience in electrochemistry and bio-analytical transducers, brings together industrial design, mechanical, electrical, electronics, software, and chemistry disciplines to offer integrated, high-quality solutions.”

“With a strong emphasis on increasing access to healthcare, we believe cost can be achieved through local manufacturing and large-scale production. Motilal Oswal Alternates’ investment gives us confidence in our goal. Their dedication to assisting India-first enterprises with global ambition is clearly aligned with our vision, and this collaboration enables Sensa Core to become a worldwide institution of excellence.”

Veda Corporate Advisors advised Sensa Core on this deal.