In a world where innovation can mean the difference between life and death, few individuals stand out for their commitment to transformative ideas that can reshape industries and improve lives.
When we speak of such transformative leaders, Karna D Shinde has emerged as a prominent figure, redefining what it means to invest in the future. Hailing from a distinguished lineage of lawyers, he could have easily followed a traditional path, but a defining moment in 2018 redirected his ambitions toward the startup ecosystem. Captivated by the potential of transformative technologies, Karna embarked on a journey that has seen him invest in groundbreaking companies, particularly in the Medtech and Biotech sectors. Karna has invested in 8 companies in USA, 1 in Singapore and 1 in Dubai.
Supporting Innovative Technologies
Karna comes from a long line of lawyers, with his great-grandfather, grandfather, father, and stepfather all practicing law. Following their footsteps seemed natural, but he found his true passion in 2018 when he began his journey with startups. “I always wanted to be part of something revolutionary and game-changing, like Apple or Google,” Karna reflects. While he was too young to invest in those giants, his opportunity came when a childhood friend introduced him to Promaxo, a U.S.-based company specializing in portable MRI machines which does live interventions.
Karna quickly saw the potential of Promaxo, which offers live tissue characterisation during surgery which helps the surgeon remove the cancerous tissue accurately. Traditional MRI scans often become outdated by the time surgery begins, but Promaxo’s live scanning technology allows doctors to scan the patient while the surgery is in process and precisely target cancerous tissue, reducing the chances of recurrence.
With this,Karna D Shinde became more than just an investor; he took on an advisory role, helping the company expand globally. Since 2021, Promaxo has sold more than 150 devices, generating over $100 million in sales.
In addition to Promaxo, Karna has invested in ten other companies across sectors like Medtech, Biotech, Fintech, Metaverse, Fan engagement, Sports Tech, Commuter Tech and AR/VR. One particularly close to his heart is Navaux, a company that has developed a blood test capable of predicting cancer three to four years in advance. This is done through floating Hepsin in the blood, the test offers patients the chance to change their habits before the disease takes hold. Through strategic investments, fundraising, and business expansion, Karna’s vision is clear: to support innovative technologies that make the world a better place.
Making the World a Better Place
Karna D Shinde’s investment philosophy is grounded in his belief that people are at the heart of any successful venture. He begins by assessing the character of the inventor, founder, or CEO of a company. “I first invest in people,” he often says. To him, it’s essential to trust and believe in leadership before committing to a project. If he feels confident about the person behind the innovation, only then does he dive deeper into the technology.
His focus is on finding what he calls “disruptor”—technologies that revolutionize existing solutions and improve them, much like how BlackBerry disrupted Nokia, and then how the iPhone surpassed BlackBerry. He seeks out advancements that are not only better but also more accessible to the world.
The COVID-19 pandemic, in particular, served as a turning point for Karna, highlighting the importance of Medtech and Biotech. Being confined at home and witnessing the global health crisis reinforced his commitment to these sectors. He’s deeply moved by the stories of friends and their families who have battled cancer, an experience that has fueled his desire to contribute meaningfully.
“I’ve seen firsthand the pain and suffering caused by diseases like cancer,” Karna reflects. “It motivates me to do everything I can to help make the world a better place.” For him, it’s not just about profits—it’s about making an impact through technologies that can change lives for the better.
Walking Abreast with the Evolving Dynamics
Karna D Shinde’s approach to investment is driven by his focus on groundbreaking technologies with long-term potential. He takes pride in identifying companies with strong, defensible intellectual property, ensuring their innovations cannot be easily replicated. “The world wide patents behind the technology I’ve invested in are so robust that I don’t foresee it being replaced for at least another 10-15 years; these advancements will remain unmatched in their fields, the intellectual property is well protected.”
One standout example of Karna’s strategic investment is his involvement with Navaux, a company that has made significant strides in the medical field, particularly with its blood test, ActivH. The test monitors Hepsin levels in the body and serves as a powerful diagnostic tool in three critical areas.
- ActivH is used for early detection, giving patients an indication that they might need further medical investigation. This proactive approach helps catch potential issues before they become serious.
- The test plays a vital role in cancer treatment. Many patients undergo therapies like radiation, chemotherapy, or gene therapy etc, only to later find out that the treatment wasn’t effective. Karna, having witnessed close friends lose loved ones despite undergoing extensive treatments, understands the emotional toll of these uncertainties. The ActivH test measures Hepsin levels during therapy—if the levels decrease, the treatment is working; if Hepsin increases, it’s an indicator that a different approach may be needed.
- ActivH is invaluable to pharmaceutical companies during their research and development phases. As they develop new drugs and therapies, ActivH helps determine whether these new treatments are effective, providing critical feedback during clinical trials.
Redefining the Roles of Legal Advisors
Karna D Shinde’s role in his companies is focused on supporting key operations such as fundraising, clinical trials, and sales, while legal aspects are handled by top international law firms. Over the years, he has established strong relationships with influential individuals and families, which has proven instrumental in securing investments.
Since 2021, he has successfully raised around $30 million for various ventures, drawing on these connections and his ability to gain investor confidence by leading by example—investing his own money before asking others to join. This personal stake adds credibility and reassures potential investors of the opportunity’s value.
In addition to securing funds, Karna has played a significant role in advancing clinical trials. One notable project involved supporting a company in running tests on 3,000 patients, contributing to refining a critical diagnostic test. His involvement doesn’t stop there. Karna is also deeply engaged in securing orders for these companies, placing devices across the globe—from the Caribbean and the U.S. to South America, Europe, Canada, the Far East, the GCC, Africa and India.
One such product is a portable MRI machine developed by Promaxo, which he has helped sell in various regions. Manufactured in the U.S., the machine is priced at $650,000 but could be offered at a more affordable $250,000–$300,000 if production is moved to India. This innovative device is significantly cheaper and more efficient than traditional MRI machines, which typically cost around $1.5 million to 3 million. It offers unique advantages such as live interventions—a feature traditional machines can’t provide due to the strong magnetic field that attracts the surgical tools.
Karna highlights the dangers of standard MRI machines, citing an incident in India where a strong magnet caused a fatal accident when an oxygen cylinder which was moved too close to the traditional MRI machine became a missile. In contrast, the portable MRI is safer, requiring only 100 square feet of space and no complex infrastructure changes. It’s silent, non-claustrophobic as it is single sided and the patient does not go inside the machine, and easy to move within a hospital, making it a more versatile and patient-friendly option. The surgical tools are not attracted to the magnet in the portable MRI machine as it is low tesla.
On Economic, Geo-political, and Industry Shifts
Karna D Shinde’s experiences in challenging situations have shaped his cautious approach to risk. He recalls being near the locations of the 2008 Mumbai attacks and, years later, being at the Brussels airport during the terrorist attack. These close calls made him more mindful of where he travels, especially when global tensions are high. Given his responsibility as a father of two young children, Karna now carefully considers safety before entering regions facing conflict. His focus remains on contributing to business and personal goals in stable environments, ensuring he makes thoughtful decisions for his family’s well-being and his own peace of mind.
On the business front, one of his key lessons has been recognizing the importance of aligning actions with words. Karna has had experiences where people he trusted didn’t deliver on their promises, leading him to take corrective action. This taught him that in business, actions speak louder than words, and it’s crucial to observe people’s behavior rather than simply trusting what they say.
For startups and founders, Karna emphasizes the importance of finding the right mix of investors—both financial backers and strategic partners. While large funds may offer substantial investment, it’s the strategic investors, like himself, who are personally involved in the company’s growth. Karna takes his role seriously, ensuring that the companies he invests in use their funds wisely and grow in the right direction. He’s particularly passionate about helping companies in the U.S., where the startup ecosystem thrives, and state, university and hospital support encourages innovation.
His relationships, built over the years, are key to his success. Whether it’s facilitating technical calls or arranging meetings with potential investors or partners, Karna leverages his global network to create opportunities for the companies he advises. He works closely with founders and CEOs, using his connections to help these businesses scale and succeed.
From Being a Lawyer to an Advisor
Since 2021, Karna D Shinde has successfully raised around $30 million, a milestone he takes great pride in. But for him, the achievement goes beyond just securing funding—it’s about the impact he’s had in helping companies grow on a global scale. His involvement with companies like Promaxo and Navaux has been instrumental not only in driving their sales in the U.S. but also in expanding their reach to other markets.
Karna has played a key role in helping these businesses break into diverse regions, from Canada to South America, the Caribbean, and even as far as Africa, Europe, and the GCC. His efforts extend to the Indian subcontinent and the Far East, including markets like Singapore. His hands-on approach in these regions has helped these companies navigate complex market dynamics and build sustainable sales pipelines.
Turning Promising Ideas into Successful Businesses
Karna D Shinde envisions a future where he can play a pivotal role in fostering innovation and growth in the U.S. His goal is to establish an incubator and accelerator, a platform designed to nurture and elevate emerging companies. He sees this initiative as a way to support startups from their very inception, guiding them through the critical early stages of development.
The incubator would focus on helping companies right from the seed stage—offering not just funding but also mentorship and resources to get them on solid ground.
Once the companies have proven their technology and demonstrated potential, Karna’s accelerator model will kick in. The goal then shifts to scaling up—helping these startups secure additional funding, expand their operations, and gain traction in the market. By supporting their growth through this crucial phase, Karna aims to turn promising ideas into successful businesses.
Pearls of Wisdom from a Seasoned Leader
Karna D Shinde has always believed that honesty is non-negotiable in business. In his view, no matter how challenging things get, staying truthful is the only way to build lasting success. He feels strongly that knowledge and integrity should guide every decision. “Just because things aren’t going your way doesn’t mean you should start lying,” he often says.
For Karna, patience is equally important. He believes that if a company’s technology is strong and its team capable, the right partners will come in time. Whether it’s funding or building sales channels after the product is developed, success will follow for those who stay committed and truthful. “Don’t rush it,” he advises, “and definitely don’t lie to force things to happen faster.”
Trust, he argues, is a currency that’s just as valuable as capital. When someone entrusts a company with their money, that trust has to be honored. Karna’s voice takes on a serious tone when he speaks about the responsibility that comes with investment. “If someone’s trusting you with their money, you’ve got to use it wisely. Don’t misuse it.”
He then recalls a story that circulated in the news recently. While avoiding names, he talks about an entrepreneur who, after receiving funding, purchased a Ferrari instead of investing in the business. Karna shakes his head in disbelief as he recounts the tale. “That’s not how you do business,” he says firmly. “Use the money for what it’s meant for—developing the product, building the business.” In Karna D Shinde’s mind, misusing funds isn’t just reckless; it’s a betrayal of the trust that investors have placed in the company. And for him, integrity and accountability are at the heart of any business that hopes to succeed in the long run.
