Fibroheal Woundcare, a biotech and healthcare startup focusing on using silk proteins as biomaterials for advanced wound management has raised ₹6.3 crore in its pre-Series A funding round from the promoters and a set of new investors including some leading surgeons, medical professionals and bankers.
Fibroheal also has an additional commitment of another ₹10 crore from existing and some new investors.
The funds will be used to scale up its go-to-market, recruit more people, invest in its 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.
Earlier in September 2021, KITVEN – Karnataka IT venture fund, the venture capital arm of the Karnataka Government invested an undisclosed amount in Fibroheal Woundcare to ramp up its manufacturing capabilities to cater to the increased expected demands from the market.
Fibroheal is also backed by EXIM Bank under their “Ubharte Sitaare” Program for building their state-of-the-art integrated manufacturing plant & R&D centre which they recently inaugurated in 2024.
The company has previously raised money from existing promoters, Telama Investments, CCAMP and KITVEN.
Bharat Tandon, Co-founder of Fibroheal, said, “Congratulations Vivek and whole team of Fibroheal on successful closure of your Pre Series A Fundraise. As earliest backer of Fibroheal which is pioneer in medical application of Silk Proteins, I am happy to have lead this round because I believe the product pipeline which the R&D team is working on is robust and extremely valuable with great potential, Good luck to the entire team.”
“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 was acquired by Rallis India and co-founded Kottaram Agrofoods (Soulfull Cereals) which was acquired by Tata Consumer Products.
Joseph J Thomas said, “The medical devices and healthcare sector is in a very exciting place and there is exponential growth prospects in future. Fibroheal with its cutting-edge technology around silk proteins and various medical applications looks very promising.”
Abhishek Vijaykumar said, “I have been using Fibroheal for about 4 years and the clinical outcome of their wound care products are excellent. They are value of money in comparison to existing imported products from various MNCs. I believe in Fibroheal’s strong and robust R&D pipeline and team. I believe in their CEO, Vivek Mishra and his competent team to make it one of leading players in medical devices space in India and globe and having watched Fibroheal for 4+ years, I am quite confident about this.”
Harikrishnan PV, CEO, KITVEN Funds said, “KITVEN Fund 3 (Biotech) invested in Fibroheal Woundcare Pvt Ltd 1st in 2021 impressed by the potential and promising future in woundcare industry using silk-derived proteins. True to our belief, Fibroheal has come a long way in developing unique products. Innovative use of silk-based products for wound healing is a groundbreaking approach exploring wound healing properties of Silk. The products made from silk has significant advantages over traditional treatments to meet growing demand of effective and affordable woundcare solutions especially for chronic wounds. Overall, Fibroheal is on right path and has potential to create huge impact globally with continued innovation, partnerships and association and we have confidence that company will continue to achieve substantial growth and success in future.”
Founded in April 2017 by Vivek Mishra, Bharat Tandon and S Subramanian, Fibroheal Woundcare is a research-driven comprehensive wound management and tissue reconstruction company catering to different types and stages of wounds using various new-age biomaterials including silk.
Fibroheal Woundcare works across the value chain of silk-growing farmers.
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.
The company 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 currently more than 500 hospitals are using their range of products with a presence across 19+ states. Fibroheal also has a strong e-commerce presence on various digital platforms. As a strong R&D-driven organisation, they have 20+ academic collaborations with leading institutes across the world and 6+ industrial collaborations with leading names in the area of research.
Fibroheal has 8+ granted patents in hand and a few more in process. As an R&D-driven startup, Fibroheal 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” which is a big success and has treated more than 3000 bleeding cases within 4 months of its early introduction cum commercialisation.
