Motilal Oswal Alternates invests $72M in Hyderabad-based medical devices startup Sensa Core

Motilal Oswal Alternates on Monday said it invested $72 million in medical devices company Sensa Core.

Founded in 2006 by Ravi Kumar Meruva, Sensa Core will utilise the funds to accelerate product development and expand its global footprint, strengthening its position in the IVD segment.

Rohit Mantri, Managing Director and Co-Head of Private Equity at Motilal Oswal Alternates, said, “India imports over 75% of its medical devices, with annual imports exceeding $8.5 billion. We firmly believe in fostering indigenous development and manufacturing in India for local needs and for ‘Make in India’ exports to the world. Sensa Core exemplifies India’s new era of homegrown medical device champions, driven by rising demand for high-quality, affordable and globally competitive products.”

“Under Meruva’s leadership, the company has been built on deep technical expertise, a strong R&D mindset and an innovation culture to turn scientific insights into commercial successes,” he added.

Hyderabad-based Sensa Core is engaged in design (IP-driven), development, manufacturing, and distribution of specialised in-vitro diagnostic devices. Initially bootstrapped, the company has become one of the market leaders in Electrolyte Analysers, achieving wide adoption across more than 40,000 hospitals and diagnostic labs in India.

Sensa Core also exports to over 78 countries. The company also builds glucometers, haemoglobin meters, and has recently forayed into arterial blood gas analysers.

Meruva, Chairman, Founder, and Managing Director of Sensa Core, said, “We are excited to enter the next phase of product innovation, advancing manufacturing automation while driving the conceptualisation and execution of a diverse portfolio of point-of-care products. Built on deep expertise in electrochemistry and bio-analytical transducers, Sensa Core brings together industrial design, mechanical, electrical, electronics, software, and chemistry disciplines under one roof to create integrated, high-quality solutions. With a strong focus on expanding access to healthcare, we believe affordability can be achieved through local manufacturing and large-scale production. The investment from Motilal Oswal Alternates reinforces confidence in our vision.”

Sensa Core operates a dedicated manufacturing facility in Hyderabad’s Export Promotion Industrial Park, Pashamylaram. It will commission a new manufacturing facility in Medical Device Park, Sultanpur, Hyderabad, to augment capacity and build capability for new products.

Veda Corporate Advisors advised Sensa Core on the transaction.