Axio Biosolutions, the first Indian company to launch an emergency haemostat for trauma care, has raised $7.4 million in a Series B funding round led by Ratan Tata’s RNT Capital, along with existing investors Accel Partners and IDG Ventures India.
Masterkey Holdings was the advisor for the transaction.
The company plans to use the funds for expansion to new markets, while continuing to work on high-impact medical products.
Axio Biosolutions’ flagship invention, Axiostat, is a patented and CE-approved product that has prevented countless deaths due to haemorrhage and grievous injuries.
The innovative first-aid dressing stops uncontrollable bleeding within just 2-3 minutes of its application, thus saving lives.
Axiostat is the de-facto product of Indian armed forces after being used in a surgical strike to save the life of soldiers and is now an essential part of their field kit.
It not only caters to the Indian Armed Forces but also BSF, NSG, para-military forces, hospitals and emergency services in India, as well as across the globe.
Leo Mavely, Founder and CEO, Axio Biosolutions said, “We are glad to welcome RNT Capital to partner with us in this journey, along with Accel Partners and IDG Ventures, who continue to support our vision. Uncontrolled bleeding is one of the leading causes of death from traumatic injuries. We are grateful to make a meaningful impact in this space by saving lives of innocent victims. We are fortunate to have investors who recognise this and who are committed with us to make the first global wound-care brand from India. The current round of funding will help us expand into new markets and introduce more products in the wound-care and drug delivery space.”
Axio Biosolutions is headquartered in Boston and has its corporate office in Bengaluru and GMP-certified manufacturing facility in Gujarat.
The company has built a strong R&D structure, with multiple patents to its credit in the wound healing, mucoadhesive drug delivery and hemostats space.