Fibroheal raises debt funding of US$ 1 million from BIRAC & existing investors

New Delhi: Fibroheal Woundcare, the first company from India to be leveraging the non textile biomaterial property of silk and silk proteins has raised a venture debt funding of about US$ 1 million (About 7 crore) from Biotechnology Industry Research Assistance Council (BIRAC) under their PCP Fund (Product Commercialization Fund) and existing promoters and investors.

Fibroheal 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 comprehensive 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”.

Fibroheal was started in April 2017 by Vivek Mishra, Bharat Tandon and S Subramanian with an aspiration to create research driven comprehensive wound management company catering to different stages of wound healing including acute wounds, chronic wounds, surgical wounds, traumatic wounds etc.

The company has few patents in hand and few applied for and is engaged actively with leading science institutes of the country including likes of IISc (Indian Institute of Science) and various IITs and supporting lot of students in the process while bringing down the barrier of industry-academia connect. Fibroheal woundcare is well respected in the medical fraternity for their innovation utilising a local resource “SILK” to develop a product in line with “Atmanirbhar Bharat” where utilising local resource to build products of global standards.

The company was one of the winners of prestigious ELEVATE 100, flagship program of Karnataka government in 2019 under idea2POC program. It was followed by being winner of “Start-up of the year” in 2020 under smart bio awards during Bengaluru Tech Summit 2020. Fibroheal Woundcare Pvt Ltd was also one of the finalists of “National Start-up Awards 2020”

The company was also one of the winners of “NATIONAL AWARD FOR TECHNOLOGY STARTUP 2020” organised by Technology development board, a statutory body under department of science and technology, Govt of India.

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 made an investment of undisclosed amount in Fibroheal to ramp up its manufacturing capabilities to cater to the increased expected demands from the market.

The whole start-up ecosystem of Government of India including invest India (Startup India), Technology development board, Startup Karntaka, K Tech and Dept of IT,BT and ST has been of great support to Fibroheal all these years and they received adequate support from Centre for Cellular and Molecular platforms, Bangalore Bio innovation Centre, during initial days related to various technical support and doing various studies.

The company has previously raised money from existing promoters, Telama Investments, CCAMP and KITVEN.