Zoho Corp. has invested $5 million for a 25% stake in Voxelgrids, a Bengaluru based startup that builds magnetic resonance imaging (MRI) scanners.
The investment, which will be made in two tranches over the upcoming two years, is aimed at fostering development of deep technological capabilities and intellectual property (IP) in the country.
Led by Dr. Arjun Arunachalam, Voxel has developed multiple technologies related to MRI scanners based on custom cryogenics and innovative electronic design and is looking to monetize it through OEM partnerships with other vendors in the field.
Zoho will help Voxelgrids in the development of indigenous MRI technology that provides a next-generation and cost-effective alternative that enables healthcare facilities to save on capital and operational expenditure.
