Indian Social Incubator Villgro Funds Three New Social Enterprises
(3BL Media/Justmeans) – India-based social enterprise incubator Villgro has made fresh equity investments of undisclosed amounts in three social start-ups – OneBreath, Ecozen Solutions and Artoo. Villgro supports social entrepreneurs during the early stages of their growth, and has incubated 94 social enterprises since it was founded in 2001.
Ecozen Solutions is a renewable energy enterprise with a focus on the application of distributed power generation agriculture and rural communities. It has affiliated with Ecofrost Technologies to work on a solar power-based micro cold storage system that will address the problem of waste in horticultural production occurring due to lack of adequate storage facilities. Ecozen also provides solar water pumping solutions for drinking and irrigation.
OneBreath is a medical device company that has come up with an innovative low-cost, portable mechanical ventilator to improve ICU care for patients. The start-up has been co-founded by A. Vijay Simha, Matthew Callaghan and Bryan Loomas. The enterprise aims to deliver a level of performance that matches with that of the market leaders, but at a significantly lower cost.
Artoo is a start-up that aims to address the challenge of financial exclusion of a large section of rural population in India. A large percentage of rural people do not have access to proper banking facilities because most financial institutions do not find it viable to reach out to the under-served rural and remote regions. The start-up provides a cloud-based android platform that enables financial institutions to move all their field processes online and monitor their businesses. Artoo is now planning to go international with its operations as well as enter new areas such as rural distribution and primary healthcare.
Paul Basil, the founder and CEO of Villgro says that the social incubator is driven by a mission to seek out innovative and promising start-ups that have a potential to make a major social impact and are run by passionate social entrepreneurs. Earlier this year, Villgro had invested in Windmill Health Technologies, which creates low-cost innovations for the healthcare sector.
Source: Business Today
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