The company intends to scale up its go to market capabilities, recruit more people onboard and create an impact through the economic multiplier potential of silk protein and healing different types of acute, chronic, non healing, slow healing, difficult to heal wounds including post operative wounds
Fibroheal Woundcare has raised a venture debt funding of about USD 1 million (About 7 crore) from Biotechnology Industry Research Assistance Council (BIRAC) under their PCP Fund (Product commercialisation Fund) and existing promoters and investors.
The company intends to scale up its go to market capabilities, recruit more people onboard and create an impact through the economic multiplier potential of silk protein and healing different types of acute, chronic, non healing, slow healing, difficult to heal wounds including post operative wounds. The company has a range of products catering different types and stages of wounds which include sheets, mesh, foams, powder, particles, and range of adhesive dressings which are already commercialised so far in the market under the umbrella brand of “D FIBROHEAL range”.
The company received early support from BIRAC and Department of Biotechnology and was also winners of LEAP program of BIRAC and got investment through CCAMP (Centre for cellular and molecular platforms). Earlier in September 2021, KITVEN – Karnataka IT venture fund, the venture capital arm of Karnataka government has also made an investment of undisclosed amount to ramp up its manufacturing capabilities to cater to the increased expected demands from the market. They previously raised money from existing promoters, Telama Investments, CCAMP and KITVEN.