The company intends to scale up its manufacturing and delivery capabilities to cater to the enhanced demand from the market through this fund raise
Fibroheal Woundcare has raised undisclosed amount of funding from Karnataka Information Technology Venture Capital Fund (KITVEN Fund) – venture fund arm of Karnataka Government. The company intends to scale up its manufacturing and delivery capabilities to cater to the enhanced demand from the market through this fund raise.
The company has a comprehensive range of products including sheets, mesh, foams, powder, particles etc. and they are already commercialised so far in the market. Fibroheal woundcare is well respected in the medical fraternity for their innovation utilising a local resource “Silk” to develop a product in line with “Atmanirbhar Bharat”, utilising local resource to build products of global standards.
Fibroheal has few patents in hand and few applied for and is engaged actively with leading science institutes of the country including likes of IISc (Indian Institute of Science) and various IITs and supporting lot of students in the process while bringing down the barrier of industry-academia connect.
The company has previously raised money from existing promoters, Telama Investments, CCAMP.
Vivek Mishra, CEO, Fibroheal Woundcare informed that having KITVEN on board brings lot of value to us with respect to their connects and networks. Karnataka is the largest producer of Silk and if non textile biomaterial application gains attention, it can have economic multiplier effect whether silk growing farmers, treating hospitals and generating employments. We have a comprehensive product range addressing to different stages of wounds and there is a huge opportunity lying ahead of us to make a huge impact the way wounds are treated.
A R Jayakumar, CEO, KITVEN Fund informed that, being an early stage investor to many Bio tech companies from its KITVEN – 3(Bio-tech) fund found that Fibroheal has some unique innovative products which are bio degradable an environment friendly. Further, the products of the company aids in healing the wounds at a faster pace compared to the existing products available in the market. The Founders of the Company have vast experience and there is immense scope and market for the products developed by the company. We are excited to be part of the company’s growth journey.