Bengaluru: Wrig Nanosystems, a New Delhi-based MedTech startup, raises Rs.15 crore from a funding round led by the Cofounders of Flipkart, Sachin and Binny Bansal. Malvinder and Shivinder Singh (former Ranbaxy and Fortis promoters), Gurpreet Singh (Round Glass Partners) and other angel investors also contributed to the round. Avendus Wealth Management was the sole advisor to Wrig Nanosystems on this deal. With the new funds, the company plans to develop more medical testing products and improve their marketing strategies so as to reach out to new buyers.
Ambar Srivastava, an ex-IIT Delhi graduate, founded Wrig Nanosystems in 2009. The company has recently developed its flagship product - TrueHb Hemometer, a haemoglobin measurement device. As a compact and easy-to-use portable device, the product is rechargeable and offers up to 99 percent accurate results.
Since its launch in December last year, the company has sold over 4000 devices, with each device priced between Rs.3,000 – 12,000. The company also claims that the device has been bought by major healthcare centers that include Max and Fortis, while it is also utilized by the governments of Madhya Pradesh, Uttar Pradesh, Uttarkhand and Himachal Pradesh for their public healthcare initiatives.