Axis Biosolutions Raises 47 Crore Funding From Ratan Tata & Others
Bengaluru based Axio Biosolutions has raised $7.4 million (about Rs 47 crore) in a Series-B funding round led by Ratan Tata's RNT Capital, Accel Partners and IDG Ventures India.
The company will use the funds for geographical and product portfolio expansion.
The medtech company that specialises in wound care also gave an exit with 7X returns to the company's first institutional investor, GVFL, an Ahmedabad-based venture capital firm.
"We were focused on the Middle East and India but we will branch out now... get into Europe and the US. We are working on another product in wound care. We are also looking into the consumer segment... we want to introduce a product portfolio in that market. This will be both through channel tie ups and direct to consumer", said Axio Founder.
Axio ...