Serigen Raises INR 5.8 Crore Seed Funding The company will utilize the investment for business growth and rapid scaling of its manufacturing and sales verticals
By Teena Jose
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Serigen Mediproducts, an innovative medical products company with a pioneering portfolio of silk protein-based products, has raised INR 5.8 crore in a seed funding round from BioAngels (powered by IAN and BIRAC) and Colossa Ventures. The lead investors from BioAngels powered by IAN include Uday Chatterjee, Sri Prakash, Rishabh Mehta, Umakant Panwar and Anirudh Agarwal. The round also witnessed participation from other prominent angel investors and experienced entrepreneurs including Aadesh Harale, Anand Deshpande, Sanjay Dalmia, Shantanu Deshpande and Priti Rao. The company will utilize the investment for business growth and rapid scaling of its manufacturing and sales verticals.
"At Serigen Mediproducts, we envision growing into a global medical products company in the times to come. We are grateful to BioAngels, Colossa Ventures and other key angel investors, who trusted us and partnered with us. With the investment received in this round, we look forward to scaling our business, expanding our team, strengthening our intellectual property portfolio and focusing on product development," said Dr. Anuya Nisal, founder and CEO, Serigen Mediproducts.
Serigen Mediproducts uses a natural biomaterial, silk, to develop path-breaking tissue regeneration products. This platform technology is protected via patents and the startup leverages it to develop products for orthopedics, breast cancer and advanced wound care. The company intends to bridge the gaps existing in the market and reduce the market's dependence on foreign companies and envisions becoming a global player in the coming times, according to an official statement.
"The sole mission of BioAngels is to connect angels, early-stage VCs and HNIs with biotech and healthcare companies for funding and value-added business mentoring. With its patented innovation, great team and exceptional products, the company is on the path of rapid growth and development. We extend our best wishes to the team and are looking forward to supporting them in all ways possible," said Dr. Manish Diwan, BIRAC.
Serigen was established in 2015 with a mission to develop innovative, high-quality tissue repair products.
