Fibroheal Woundcare bags Rs 6.3 Cr in Pre-Series A round

Fibroheal Woundcare on Sunday said it had raised Rs 6.3 crore in a pre-Series A funding round from existing promoters and a new set of investors, including leading surgeons, medical professionals, and bankers.

The company also has an additional commitment of another Rs 10 crore from existing and some new investors.

The silk proteins-based medical devices startup intends to use the newly raised funds to scale up its go-to-market strategy, recruit more people, and invest in its product pipeline in the medical devices segment.

“Woundcare is a fast growing segment of the health and wellness sector. Fibroheal is poised to become a major player in this sector with a differentiated technology based on ‘Natural Silk’, a committed leadership and a competent team,” said KK Narayanan, who also invested in this round. Narayanan previously built Metahelix Life Sciences which got acquired by Rallis India, and co-founded Kottaram Agrofoods (Soulfull Cereals) which got acquired by Tata Consumer products.

The fundraise comes amidst significant growth in India’s wound care market, driven by a rise in chronic diseases, growing healthcare expenditures and awareness of wound care solutions, according to a 2024 report by research firm Mordor Intelligence.

Founded in 2017 by Vivek Mishra & Bharat Tandon, Fibroheal’s products are being used in more than 500 hospitals across India and has a presence in over 19 states. The company has also branched out to selling its products on various ecommerce platforms.

The company’s product line, which includes foams, mesh, and powders, among others, is used to heal different types of acute, chronic, traumatic, post-operative, non-healing or difficult-to-heal wounds like bed sores or infected C-section wounds, among others.

Fibroheal has previously raised money from existing promoters Telama Investments, CCAMP and KITVEN.