What is Axio Biosolutions Private?
Founded in 2008 and headquartered in Cambridge, Massachusetts, Axio Biosolutions Private is an ISO 13485 certified medical device company specializing in advanced wound care. The company leverages innovative biopolymer-based medical technology to develop novel woundcare products. Its flagship offering, Axiostat, is a 100% chitosan haemostatic dressing designed to rapidly control severe hemorrhage by adhering to trauma wounds. This award-winning, CE-approved product has seen adoption by defense forces globally, highlighting its critical application in emergency medical situations.
How much funding has Axio Biosolutions Private raised?
Axio Biosolutions Private has raised a total of $18.6M across 2 funding rounds:
Series B
$12.6M
Other Financing Round
$6M
Series B (2020): $12.6M with participation from Omidyar Network India, University of California, Chiratae Ventures, and Accel
Other Financing Round (2021): $6M led by TrueScale Capital, Omidyar Network India, Accel, and UC Ratan Tata Fund
Key Investors in Axio Biosolutions Private
Chiratae Ventures
Chiratae Ventures is an established Indian technology venture capital fund advisor based in Bengaluru, with a strong track record of managing $1.3 billion in assets across seven funds. The firm has made over 130 investments, including early backing of notable companies like Myntra and Lenskart, and has achieved 56 exits and four IPOs. Chiratae offers various programs such as Chiratae Sonic for seed investments, Chiratae Spotlight for follow-on funding, and the Midas Program aimed at educating family offices about venture capital. Their focus is on supporting audacious entrepreneurs and fostering innovation in the Indian startup ecosystem.
Omidyar Network India
Omidyar Network India invests in bold entrepreneurs who help create a meaningful life for every Indian, especially the hundreds of millions of Indians in low-income and lower-middle-income populations, ranging from the poorest among the company to the existing middle class. To drive empowerment and social impact at scale, the company works with entrepreneurs in the private, non-profit, and public sectors, who are tackling India's hardest and most chronic problems. The company makes equity investments in early stage enterprises and provide grants to non-profits in the areas of Digital Identity, Education, Emerging Tech, Financial Inclusion, Governance & Citizen Engagement, and Property Rights. The company is part of a global network funded by the philanthropic capital of Pierre Omidyar, the founder of eBay, and his wife Pam.
Accel
Accel is a global venture capital firm that partners with exceptional teams from the inception of their ideas through all phases of private company growth. The firm focuses on supporting innovative companies and entrepreneurs. Accel aims to be the first partner for teams looking to scale and succeed in their respective markets. Their services are tailored to meet the needs of startups and growing businesses.
What's next for Axio Biosolutions Private?
The recent major strategic investment in Axio Biosolutions Private signals a pivotal growth phase for the company. With a focus on scaling its innovative wound care solutions, particularly the Axiostat product, Axio is poised to expand its market reach. Future endeavors will likely involve further research and development to enhance its product pipeline and solidify its position in the competitive medical device industry. The company's trajectory suggests a strong emphasis on market penetration and potentially new product introductions, building upon its established reputation for effective hemorrhage control.
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