[Funding alert] Medtech Fibroheal Woundcare start-up raises investment from Karnataka government venture capital fund

Startup Medtech FIBROHEAL WOUNDCARE PVT LTD said he raised undisclosed funding of Karnataka government venture capital fund arm, Karnataka Information Technology Venture Fund (KITVEN).

The startup said it intended to use the funds to increase its manufacturing and delivery capacities and respond more broadly to market demand for its products.

Founded in 2017 by Vivek Mishra, Bharat Tandon and S Subramanian, Fibroheal Woundcare utilizes the biomaterial property of silk and silk proteins to provide acute, chronic, surgical and traumatic wound care management. Its products include sheets, meshes, foams, powder and particles.

“Having KITVEN on board brings us a lot of value compared to their connections and networks. Karnataka is the largest producer of silk and if the application of non-textile biomaterials attracts attention, it can have an economic multiplier effect for silk producers, hospitals and create jobs, ”Vivek said in a statement. Press.

Fibroheal has a few patents for its technology and has applied for more. This raised funds from its existing promoters, including Telama Investments and CCAMP (Center for Cellular and Molecular Platforms), during its previous cycle.

Fibroheal Wound Care Team

The startup also received early support from BIRAC and the Department of Biotechnology.

“Fibroheal offers unique innovative products that are biodegradable and environmentally friendly. In addition, the company’s products help heal wounds faster than existing products available on the market, ”said AR Jayakumar, CEO of the KITVEN Fund.

“The founders of the company have extensive experience, and there is a vast reach and a huge market for the products developed by the company,” he added.

Bengaluru-based Fibroheal works with silk producers across the country, picking up broken or cut cocoons that otherwise would have gone to waste. The use of silk protein helps hospitals lower their treatment costs, which they can pass on to patients, making healthcare affordable for everyone.

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