Axio Biosolutions has now secured $5.2 million in the funding round of Series B1 led by the Omidyar Network India to fuel its global expansion plans.
Some of the returning investors, such as UC-RNT fund, the joint venture fund between the Tata Sons Chairman Emeritus Ratan Tata and the University of California – and venture capital investment firms Accel and Chiratae Ventures have participated in this round.
This new funding round takes the total capital secured by the Axio Biosolutions to date to around $15 million.
The company will now be going to use the fresh funding to expand its digital footprint, especially in Western Europe and the USA, said the announcement.
“As the first global wound care brand from India, we have plans to explore new markets and introduce more products in the wound-care and drug-delivery space. With Axiostat receiving USFDA (US Food and Drug Administration) clearance, we are all set to enter the US market this year. Soon, we will launch our products directly to consumers for emergency trauma use,” Leo Mavely, founder and CEO, Axio Biosolutions, said.