The threat of climate change on global ecosystems is looming like a dark cloud above the future of our planet. And the intersection between climate technology and public health is the only ray of hope. In line with this, US$222bn was invested into climate tech between 2013 and 2021, as per The State of Climate Tech 2020 report.
Synapses is one of the companies that is at the forefront in battling for climate protection and healthcare improvement. Recently, India’s Supreme Court took a landmark step by making fighting against climate change a fundamental right. Thus emphasizing the necessity to safeguard public health from ecological crises.
So, let us understand Synapses’ role in bringing about positive change from the front that connects climate tech, health, and justice.
Synapses: Overview
Co-founded by IIT alumni Ruchira Shukla and Karthik Chandrasekar, Synapses supports early-stage startups using STEM (science, technology, engineering, and math) and IP (intellectual property). These startups aim to tackle urgent problems in climate and health.
Karthik Chandrasekar, Synapses’ Co-founder and Managing Partner in an interview, has shared his opinions on the vision of his company. According to him, presently, the Climate Tech and HealthTech solutions are required to stand at the intersection of STEM innovation and future-ready, resilient infrastructure.
These must be deployed on a utility scale. It is challenging to commercialize these innovations because they are rooted in a profound understanding of sector specificities. Changes in this sector require deep sector immersion. Synapses is taking this challenge because solving for this complexity is what drives alpha and impact, as stated by Mr. Chandrashekhar.
The Investment Strategy of Synapses
Synapses has a fund size of $125 million (about Rs 1,040 crore). The company aims to support various STEM-led innovations in addressing climate and health challenges through this fund. Let us now focus on their investments and commitments.
Emphasis on climate tech startups
The climate tech sector has been growing dramatically due to the increased awareness about the impact of climate change. In addition, governments’ policies that incentivize clean energy transition and carbon reduction also have a big influence. Further, technological advances like renewable energy innovations and carbon capture technologies are attracting investments and driving industrial expansion.
There is much overlap as venture funds largely focus on mainstream trends, said co-founder Ruchira Shukla.
“With climate, we need the conversation to go beyond wind and solar deployment beyond just EV electric mobility. We want to be able to go deeper into these innovations, and that, in turn, will make large-scale deployment possible and the pipeline more unique,” she explained.
Emphasis on health tech startups
The important aspect of health tech is its potential to improve patient care and outcomes in the current world scenario. These encompass various services like telemedicine services, wearable tools, Electronic Health Records, etc.
Telemedicine and remote patient monitoring are areas ripe for investment due to changing demographics and growing demand for innovative healthcare solutions. This sector has experienced tremendous growth, especially during the COVID-19 pandemic period.
Companies developing telehealth platforms, wearable devices, and remote monitoring tools offer opportunities to improve access to healthcare services. Digital health platforms focused on chronic disease management also provide avenues for investing in technologies.
AI-enabled diagnostic systems, predictive analysis, etc. that predict risks of disease development and personalized medicine have the potential to change how medical care is delivered. These avenues hold the hope for miracles in healthcare. Moreover, they hold great investment potential.
Synapses’ Approach to Investment
Synapses’ investment approach is focused on allocating funds strategically across 25 startups with proven products addressing challenges in various segments. The fund aims to close by October, expecting significant returns of between five and seven times the initial investment.
Synapses views India as an important market, and other South Asian nations with a similar perspective; this emphasizes the company’s commitment to promoting innovation, like its incubator partnership with NITI Aayog and a multi-year seed investment program.
The company plans to register a USD 125 million fund under AIF-2 with SEBI at the end of this month, which will be raised over one or two years. This structured approach reflects Synapses’ strategic vision in channeling investments towards startups that demonstrate viable solutions.
How does Synapses Plan to Make a Change?
It is evident that Synapses has emerged as a strong force of change in both the environmental and health sectors. Here are some ways in which they plan to revolutionize the sectors:
1. Advancing Telemedicine and Remote Patient Monitoring
Telemedicine and remote patient monitoring solutions have been advanced by Synapses. This makes it possible for healthcare providers to offer care outside conventional clinical settings. Synapses has invested in facilitating remote consultations, real-time health monitoring as well as virtual care delivery.
2. Harnessing Technology for Environmental Monitoring and Conservation
Synapses plans to invest in startups that use technology to monitor the environment and promote its preservation. Some of these initiatives include satellite monitoring systems, internet of Things (IoT) devices for tracking air and water quality, and AI-empowered solutions for mitigating environmental threats.
3. Driving Precision Medicine with AI and Machine Learning
Synapses plans to invest heavily in artificial intelligence and machine learning technologies to drive precision medicine. Synapses-backed start-ups are changing disease diagnosis, treatment selection, and patient care pathways. They use advanced algorithms and data analytics to provide more personalized and effective healthcare interventions.
4. Supporting Climate Resilience and Adaptation Strategies
Synapses support companies in developing climate resilience strategies that work to adapt communities and ecosystems to the impacts of climate change. It may involve actions such as promoting smart agricultural practices, establishing early warning systems for extreme weather conditions, etc.
Conclusion
In conclusion, Synapses comprise individuals who are passionate change-makers. Under the impactful leadership of Ruchira and Karthik, Synapses has taken on a journey that can impact billions. Their journey is about building a better future for our planet and communities instead of just investments and returns.
Each day, our planet is moving towards its doom. Since our actions have caused this destruction, we must also take the onus of repairing our home planet. The very first step towards this step is awareness- stay updated with the latest updates in this sector. Know about the companies making changes, and take part where and when you can!
