Hotline: 1800 102 2007
X
Search Business Opportunities
Jan, 29 2018

Axio Biosolutions Bags $7.4Mn Fund In Series B Funding

Axio Biosolutions is a patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries

Axio Biosolutions, the first Indian company to launch an emergency haemostat for trauma care, has raised $7.4mn in a Series B funding round led by Ratan Tata’s RNT Capital along with existing investors Accel Partners and IDG Ventures India. Masterkey Holdings was the advisor for the transaction. The company plans to use the funds for expansion to new markets, while continuing to work on high-impact medical products.

Axio Biosolutions’ flagship invention, Axiostat, is a patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries. The innovative first-aid dressing stops uncontrollable bleeding within just 2-3 minutes of its application, thus saving lives. Axiostat is the de-facto product of Indian armed forces after being used in surgical strike to save life of solider and is now an essential part of their field kit. Catering to the Indian Armed Forces, BSF, NSG, para-military forces, hospitals and emergency services not only in India, but across the globe, the home-grown first aid dressing is disrupting the wound care market.

Leo Mavely, Founder and CEO, Axio Biosolutions said, “We are glad to welcome RNT Capital to partner with us in this journey, along with Accel Partners and IDG Ventures, who continue to support our vision. Uncontrolled bleeding is one of the leading causes of death from traumatic injuries. We are grateful to make a meaningful impact in this space by saving lives of innocent victims. We are fortunate to have investors who recognize this and who are committed with us to make the first global woundcare brand from India. The current round of funding will help us expand into new markets and introduce more products in the wound care and drug delivery space.”

Barath Shankar Subramanian, Principal, Accel Partners stated, “We invest in disruptive and innovative companies that build products keeping the Indian consumer in mind, while having global ambitions. Axio is well-poised to disrupt the wound care industry. In the last few years, we have seen the company transform into a global player and we are excited to be a part of this transformative journey"

Ranjith Menon, Executive Director, IDG Ventures India further added, “The medical device market in India is in a fairly nascent stage, especially in the startup sector. We believe that Axio has demonstrated that it is possible to build world-class products to cater to the Indian as well as the global markets. The team has cemented some strategic partnerships and will continue to lead the wound care management space through technology innovations”.

Headquartered in Boston, Axio Biosolutions has its corporate office in Bengaluru and GMP-certified manufacturing facility in Gujarat. The company has built a strong R&D structure, with multiple patents to its credit in the wound healing, mucoadhesive drug delivery and hemostats space.

Comment
Related opportunities
  • Theme Restaurants
    About Us: Rang De Basanti Dhabha Centers around the idea of..
    Locations looking for expansion West bengal
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 1 Cr. - 2 Cr
    Space required 2200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Kolkata West bengal
  • Cosmetics & Beauty Product Stores
    About Us:  Incorporated in 2010, at Mumbai (Maharashtra, India), we &ldquo..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Activity Centres, Day Care & Creches
    About Us: First  Five provides quality early education for young children..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2015
    Investment size Rs. 20lac - 30lac
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater pune Maharashtra
  • Casual dine Restaurants
    About Us: Started in 2017, Runway1 is a unique Theme based..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 13500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities