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Updated: Biosense Technologies Raises $500,000 From GSF India & Inistor Fund

Mumbai based Biosense Technologies has raised $500,000 of funding from GSF India and Insitor Fund. It's not immediately clear as to how the company plans to use the funds raised. We have contacted Biosense for more details on this investment and will update the post once we get a response. Update: Biosense founder Myshkin Ingawale has informed that they plan to use this investment to improve the infrastructure around its products ToucHb and uChek. Prior to this investment, Biosense had raised $150,000 from GSF Superangels network in March 2012 and was one of GSF's first batch of startups. Offerings: Founded by Myshkin Ingawale, Abhishek Sen, Yogesh Patil and Aman Midha, Biosense has developed two medical products so far - ToucHb and uCheck. ToucHb is a handheld needle-free battery operated device that allows screening for anemia disease and allows treatment monitoring on a regular basis. The company's website suggests that the ToucHb is available in India as a pre-release, however there is no specific information regarding this. On the other hand, uChek is an urine analysis iOS app which allows physicians and patients to analyse urine for various parameters like glucose, ketones and leukocytes. Users can dip an urine dipstick in an urine sample and place it next to the washable color mat to take pictures of these dipsticks using the phone's camera at certain intervals. The app then compares the color palates on the washable mat and the dipstick and analyses it to provide results. (Video Demo) Monetization: Biosense currently has two ways for monetization - Selling the ToucHb devices to hospitals & clinics and through the sales of uCheck app and…

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