[Funding alert] Chiratae Ventures makes seed investment in deeptech startup WeInnovate Biosolutions
Chiratae Ventures, India’s leading Venture Capital fund, on Friday announced their seed investment in WeInnovate Biosolutions, as a part of their DeepTech Innovators Programme 6th Cohort.
According to the company statement, the startup will be using the fresh funding for product approvals, sales, and marketing.
Founded in 2016 by three friends — Dr Milind Choudhari, Dr Prasad Bhagat, and Dr Anupama Engineer, Weinnovate Biosolutions has developed antimicrobial solutions that reduce hospital-acquired infections and is helping save millions on hospitalization bills.
“With the current steep rise in hospital-acquired infections (HAI), followed by the indiscriminate use of antibiotics, it was important to come up with a solution that would drastically bring down the incidences of HAI. This would ultimately result in reduced hospitalisation stay, improve hospital foot-fall, and improve the quality of stay for a patient in any hospital”, said Dr Milind Choudhari, Founder and CEO of WeInnovate Biosolutions.
According to the World Health Organization, over 1.4 million people across the globe suffer from hospital-acquired infections (HAI) at any given time. Weinnovate Biosolutions is the first-ever, “Made in India” technology catering to holistic improvement in the Indian hospitalisation scenario. This “completely Indian solution” not only pushes India towards its “Aatmanirbhar Bharat” mission but will also attract medical tourism.
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Speaking on the announcement, Sudhir Sethi, Founder and Chairman, Chiratae Ventures, said,
“Our goal is to invest in technology solutions across the broad spectrum of deep tech that aim to make people’s lives better. Weinnovate Biosolutions is a unique deeptech startup that is working to solve a big issue in the healthcare space which is hospital-acquired infections and specifically with the use of catheters, where almost 3.5-4 crore catheters are consumed per year. With their patented technology, WIB has the potential to be a great market leader and capture a significant differentiated market share in India and go global.”
The DeepTech Innovators Programme by Chiratae Ventures is the 6th edition, consolidating all the previous programmes for the seed and early-stage startups with over 250+ companies being part of this programme across horizontal tech, mobility, robotics, energy, aerospace, biotech, life sciences, etc.