The company said it would use the capital to buy companies in the US and Europe, and enhance distribution across South East Asia, the Middle East and Africa.
Trivitron makes equipment for the cardiology, medical imaging, diagnostics and life support systems.
ePlanet Ventures and Headland Capital made partial exits of Trivitron through the Fidelity’s investment, having first backed the company in 2007.
The company, which boasts revenues of more than INR5bn, raised around INR500m ($11m) in 2007 from the HSBC Asian Ventures Fund 2 and ePlanet in return for a minority stake.
Kotak Mahindra Capital, the investment banking arm of Kotak Mahindra Bank, advised on the deal.
India’s venture capital activity has struggled to match its 2011 levels according to recent research from Venture Intelligence.
Venture capital firms invested $200m over 52 deals in India during the third quarter, significantly lower than the same quarter in 2011 (which saw $256m invested across 51 deals) and flat when compared to the immediate previous quarter ($204m across 56 deals).
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