PadUp Mentee startup Ameliorate Biotech revealed that it had secured INR 2 crore as angel investment for its product ASSURED, a device used for rapid detection of malaria, dengue, and chikungunya.
The funding came from friends of PadUp, Vinners, LetsVenture, Villgro USA, DERBI and SINE IIT Bombay.
Commenting on the fund-raise, CEO and Co-founder of Ameliorate, Dr Rashbehari Tunga said,
“ASSURED will definitely contribute immensely in the nation’s fight against dengue, malaria, and chikungunya by providing early detection. The money raised will help us in concluding the clinical trials efficiently and in subsequent commercialization of the kits.”
“Ameliorate is a perfect example of how scientific research can be leveraged to bring in disruption to solve real-life problems,” said Pankaj Thakar, Co-founder and chief mentor of PadUp.