Recently Medtech Company Axio Biosolutions has raised $6 million in a Series B2 round led by TrueScale Capital with contribution from present investors Omidyar Network India, University of California–Ratan Tata Fund, and Accel. Sameer Nath, managing partner at TrueScale Capital, will join Axio’s board of directors.
Through this stout of funding, Axio has raised over $20 million to date and plans to build out its commercial presence in the US and EU, as well as strengthen its India operations.
Axio is a creator of hemostatic and progressive wound care products. The company states it has spent close to a period emerging its line of exclusive products for the $12 billion-plus hemostat and innovative wound care market. The company’s manufacturing facility in Ahmedabad is FDA, EU, and GMP-certified.
Leo Mavely, founder and CEO, Axio Biosolutions said, "As the first global wound care brand from India, we have plans to explore new markets and introduce additional products. This Series B2 raise advances these plans, helping us to grow in developed markets and expand our roster of regulatory approved products.”
Sameer Nath, managing partner, TrueScale Capital, states, "We have been impressed by Axio’s R&D capability along with their capital efficiency in building out an intellectual property-led, world-class MedTech company. As the first investment from our fund, we are delighted to back Leo and the talented team at Axio that has set its sights on capturing global market share.”