Fibroheal raises Rs 6.3 crore in a pre-Series A funding round

Fibroheal Woundcare, which claims to be the first company from India to commercialise Silk proteins-based medical devices in the wound management space, has raised Rs 6.3 crore in funding from the promoters and a set of new investors, including leading surgeons, medical professionals and bankers. 

Notably, the startup has also received a commitment of another Rs 10 crore from both existing and new investors.

Purpose of fundraising

With this investment, Fibroheal intends to scale up its go-to-market, recruit more people, invest in a future robust pipeline of products in the medical devices area and create an impact through the economic multiplier potential of Silk and a few other biomaterials.

Fibroheal, with its unique range of products, has been healing different types of acute, chronic, traumatic, post-operative, non-healing or difficult-to-heal wounds like diabetic ulcers, bed sores, infected C-section wounds, accidental trauma etc.

Offering a comprehensive range of products

The startup has a comprehensive range of products, including Foams, mesh, powder, particles, adhesive dressings, sprays, gels, etc, which are already commercialised and are doing well in the market, catering to different types and stages of wounds.

Fibroheal claims that its products are used in more than 500 hospitals across India and are present in over 19 states.

Who are the founders?

Fibroheal Woundcare was started in April 2017 by Vivek Mishra and Bharat Tandon and later joined by S Subramanian in 2018 as a co-promoter.

The startup said it has 8+ granted patents in hand and a few more in process. It has collaborated with IISc, Bangalore and supported a student under the PMRF program, which led to a joint research translation and commercialisation of an external haemostatic product named “Fibroplug”.