TrueScale Capital led a $6 million Series B2 investment for Bengaluru-based MedTech startup Axio Biosolutions, which also included current investors Omidyar Network India, University of California–Ratan Tata Fund, and Accel.
The additional money will be used to grow operations in the United States and the European Union, as well as to improve operations in India. Axio Biosolutions has received nearly $20 million in funding from Accel, Chiratae Ventures, the University of California–Ratan Tata Fund, and Omidyar Network India to date.
The business announced that its Axiostat and Maxiocel products have obtained regulatory clearance in the US and EU. In surgical, trauma, and emergency situations, both products are employed.
“This Series B2 raise advances these plans, helping us to grow in developed markets and expand our roster of regulatorily approved products,” said Leo Mavely, founder and CEO of Axio BioSolutions.