On Friday, the leading venture capital fund in India, Chiratae Ventures, stated that it had made a seed investment in WeInnovate Biosolutions (1). The latest finance is part of its Deep-Tech Innovators Programme 6th Cohort. The startup will utilize the newest tranche for the approval of its product, marketing, and sales.
Three Friends, Dr. Milind Choudhary, Dr. Anupama Engineer, and Dr. Prasad Bhagat, started WeInnovate Biosolutions in 2016. The firm has developed anti-microbial solutions that aim to lower HAI, hospital-acquired infections. Notably, it would save millions of dollars on the hospitalization bills.
Dr. Milind Choudhari, Founder and CEO of WeInnovate Biosolutions, stated a steep increase in HAI, hospital-acquired infections. Along with the indiscriminate use of antibiotics. It was a need to come up with solutions that would tackle the HAI incidences. It would result in less hospitalization stay, improved hospital foot-fall, and overall improved quality of stay for patients in any hospital.
WeInnovate Biosolutions to Solve Big Issues in Healthcare of India
As per WHO, World Health Organization, more than 1.4 million people worldwide suffer from HAI at a time. The firm is the first-ever technology that caters to India’s hospitalization scenario under “Made in India.” The WeInnovate Biosolutions will push India towards Atma Nirbhar Bharat with its completely Indian solutions. Moreover, it will also attract medical tourists to India.
Sudhir Sethi, Founder, and Chairman, Chiratae Ventures, while commenting on the latest investment, stated that the venture’s goal is to invest in technology solutions across a broad range of deep-tech that improves the people lives. WeInnovate Biosolutions is a one-of-a-kind deep-tech startup working hard to solve a big issue in Indian healthcare. It is focusing on HAI, specifically with the use of different catheters. Notably, every year, 3.5 to 5 crore catheters are consumed.
Sudhir added that the firm has great potential to become a market leader with its patented technology. It can capture a significant market in India and expand globally.
The Deep-Tech Innovators Program of Chiratae Venture is the 6th edition. More than 250 seed and early-stage startups are part of the program combining all the previous plans. These startups are from several categories such as robotics, energy, mobility, biotech, aerospace, etc.