Healthtech Startup Bonatra Acquires Women’s Health-Focussed Platform MyAva

Healthtech startup Bonatra on Tuesday (May 2) said it has acquired women’s health and wellness startup MyAva. However, it didn’t disclose the details of the deal.

Bonatra said with the acquisition, it aims to expand its holistic healthcare programmes and become a one-stop solution for management of chronic health conditions. 

Founded in 2019 by Evelyn Immanuel, MyAva helps women manage chronic health conditions such as polycystic ovary syndrome (PCOS), thyroid disorders, insulin resistance, among others. The startup offers curated programs and personalised plans that help women improve their health and wellbeing.

Meanwhile, Bonatra, founded in 2022 by Rahul Kishore Singh, Manjari Chandra, Ramanpreet Singh, and Amit Acharya, is a doctor-led IoMT (Internet of Medical Things) startup that focuses on treatment and management of chronic diseases such as diabetes, hypertension, fatty liver, PCOD, obesity, among others. The startup claims to use IoMT devices to analyse various health parameters to come up with personalised treatment plans for patients suffering from these chronic diseases.

Commenting on the acquisition, Bonatra CEO Rahul Kishore Singh said, “We have been closely working with and interacting with the MyAva team and we believe that this will be a good strategic fit for Bonatra.”

Last year, Bonatra raised INR 5.5 Cr in a pre-seed funding round led by ITI Growth Opportunities Fund. The funding round also saw participation from angel investors like Jitendra Jagadev, founder of Nestaway and Helloworld, and Rajesh Yabaji, founder of Blackbuck. 

Bonatra said it plans to come out with new IoMT devices to further strengthen its solutions which are a convergence of medical science, data science and technology. 

The Covid-19 pandemic gave a big boost to the healthtech industry in the country. The Indian healthtech market is expected to reach a size of $21 Bn by 2025. The country is currently home to about 300 funded healthtech startups. 

Recently, healthcare startup Portea Medical’s parent company Healthvista India received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). 

However, the ongoing funding winter has also hit Indian healthtech startups. Earlier this month,  Practo fired 41 employees as part of its performance management and planning process, while healthtech unicorn Innovaccer fired 245 employees earlier. Besides, Bengaluru-based Phablecare also saw several layoffs.