Fibroheal raises funding from KITVEN & existing investors

The company will be utilizing these funds to enhance the delivery capabilities, scale up its manufacturing ability to cater to increased demands from the market

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Biovoice News Fibroheal
New Delhi: Fibroheal Woundcare has received follow on funding from KITVEN – the venture fund arm of Karnataka Government. The company is first in India to have commercialized silk protein based wound management solutions for acute, chronic, traumatic and post operative wounds.
The company will be utilizing these funds to enhance the delivery capabilities, scale up its manufacturing ability to cater to increased demands from the market. Recently, Fibroheal have enhanced their basket in terms of product offering by foraying into area of port closure dressings useful post minimally access surgeries and minimal invasive surgeries. The company has a comprehensive range of products including adhesive dressings, Powders, Particles, Foams, gels, sprays, port closure dressings etc. which is already commercialized in the market.
Fibroheal Woundcare was started in April 2017 by Vivek Mishra, Bharat Tandon in 2018 and S Subramanian came on board as a co-promoter with an aspiration to create research driven comprehensive wound management company catering to different types and stages of wounds which was a very fragmented market.
The company was one of the winners of prestigious ELEVATE 100, flagship program of Karnataka government in 2019 under idea2POC program organised by KITS, Department of electronics, information technology, biotechnology, science and technology, Govt of Karnataka. 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 Technology Award 2020” organised by Technology Development Board(TDB), 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 CCAMP (Centre for cellular and molecular platforms) is a shareholder in Fibroheal Woundcare Pvt Ltd. Technology development board, Start-up India and Start-up Karnataka has been of great support to Fibroheal all these years and they received adequate support and took help of incubation facilities available at Centre for Cellular and Molecular platforms, Bangalore Bio innovation Centre, during initial days and availed various technical support and doing various studies.
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.
Fibroheal Woundcare works across the value chain of silk growing farmers and have the potential to become an economic multiplier. It has previously raised money from existing promoters, Telama Investment, KITVEN and CCAMP.
Vivek Mishra, CEO, Fibroheal Woundcare said, “Being pioneers in using silk proteins for wholistic woundcare including tough to heal wounds, injuries and scars, receiving following on funding support from existing investors like Bharat Tandon, KITVEN and Telama Investment highlights the trust they have in our company and its mission to be the most comprehensive wound care company addressing different types and stages of wounds. As we expand and prepare to grow leap and bounds, this investment will be very helpful in scale up process to address and grasp the huge opportunity lying ahead of us to make a huge impact in the way wounds are treated.”
A R Jayakumar, CEO, KITVEN Fund, “KITVEN has always been in the forefront to support innovative product development companies across all sectors. In this endeavour, Fibroheal  woundcare has been one the most promising company which has developed innovative wound care products using bio-degradable silk protein. We supported the company in their initial phase and we are elated to be part of the Company’s expansion phase after seeing the market acceptability of their products.”