# Axio Biosolutions Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/axio-biosolutions-private

- Industry: Medical Devices & Equipment
- Headquarters: Ahmedabad, India
- Website: www.axiobio.com
- Total disclosed funding: $18M
- Latest round: Series B (Jul 24, 2021)
- Investors on record: 7

## About

Axio Biosolutions Private Limited focuses on advanced wound care solutions, developing innovative haemostatic dressings that meet critical medical needs through cutting-edge biomaterials and technology.Founded in 2008 in Ahmedabad, India, Axio Biosolutions Private Limited specializes in medical solutions for trauma and chronic wounds. The company has pivoted to enhance its product line, driven by the expertise of its founder, Leo Mavely, who has an extensive background in the healthcare sector. In July 2021, the company raised USD 6 mn in Series B funding led by TrueScale Capital, with participation from Accel and Omidyar Network, bringing its total amount raised to USD 6 mn. Axio has completed six funding rounds to date, with its latest deal in 2021.Axio Biosolutions specializes in advanced wound care and haemostatic dressing products designed to address critical medical needs in trauma, surgical, and chronic-infectious wound management. Their flagship offerings include Axiostat, a bioactive haemostatic dressing that employs a unique charge-based mechanism to form a mechanical barrier at bleeding sites, effectively controlling moderate to severe bleeding in minutes. Another notable product is MaxioCel, an absorbent antimicrobial wound dressing that facilitates healing by managing exudates and pain for patients suffering from diabetic foot ulcers, pressure ulcers, and other chronic wounds. These products are primarily utilized by hospitals, emergency medical services, and defense forces across various global markets, including the United States, Europe, and select regions in Asia and the Middle East. Axio's commitment to innovation is evident in its development of cutting-edge biomaterials, driven by expertise in medicine and engineering.In 2023, Axio Biosolutions generated a revenue of USD 2,858,571.10, while reporting an EBITDA of USD -587,059.80. The company utilizes a B2B revenue model, partnering with hospitals, healthcare providers, and emergency services to supply its products, ensuring effective distribution and support in life-saving situations.Following its funding round in July 2021, Axio Biosolutions plans to use the USD 6 mn raised to enter new markets, enhance its product offerings, and expand its portfolio of regulatory-approved products. Specific targets for expansion include entering new geographical regions in Asia and the Middle East by 2023, along with the introduction of new medical solutions aimed at addressing urgent healthcare needs.

## Funding rounds

- Series B, Jul 24, 2021, $6M — Accel, Omidyar Network, TrueScale Capital
- Series B, Jan 9, 2020, $5M — Accel, Chiratae Ventures, University of California, LA, Omidyar Network, RNT Associates
- Series B, Jan 26, 2018, $7.4M — Accel, Chiratae Ventures, RNT Associates
- Series A, May 26, 2016 — Accel, Chiratae Ventures
- Seed, Jul 10, 2010 — GVFL

## Investors

- GVFL (https://capitalatlas.ai/funds/gvfl) — Seed
- Accel (https://capitalatlas.ai/funds/accel) — Series A, Series B
- Chiratae Ventures (https://capitalatlas.ai/funds/chiratae-ventures) — Series A, Series B
- RNT Associates (https://capitalatlas.ai/funds/rnt-associates) — Series B
- University of California, LA — Series B
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series B
- TrueScale Capital (https://capitalatlas.ai/funds/truescale-capital) — Series B