Axio Biosolutions snags $5m funding led by Omidyar Network India

Photo: Mint

Medtech start-up Axio Biosolutions on Thursday said it has raised Rs36 crores ($5.2 million) in a Series B-1 round of funding, led by Omidyar Network India, along with participation from existing investors Accel, University of California & Ratan Tata’s UC-RNT Fund and Chiratae Ventures.

The company plans to use the latest funding to expand its footprint, especially in the US and Western Europe, while continuing to develop innovative surgical and wound care products for the global wound-care market that is poised to touch $24.8 billion by 2024 from $19.8 billion in 2019.

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