Perfint secures $7.2 mn venture funding from Norwest

Leading medical equipment firm Perfint Healthcare today announced that it has secured $7.2 million venture funding from Norwest Venture Partners (NVP) for its expansion.

"We will be using the new capital for the development of next generation interventional oncology assistance products and further expand the company's presence in Southeast Asia, Middle East, Europe and the US," Chennai-headquartered Perfint Healthcare Chief Executive Officer S Nandakumar told reporters here.

With the venture funding, NVP Executive Director Mohan Kumar would join Perfint's board of directors.

Stating that the company would also add new products to its portfolio, Nandakumar said with the latest infusion of funds, the company would look forward to graduate to the therapy space.

He said at present, the company produces PIGA-CT, leverages robotics and image processing to help doctors find out tumors and it would be marketed in China and Latin America.

Mohan Kumar said his company expects Perfint to register a revenue between $50 million and $100 million within a span of five years.