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Chiratae Ventures Invests In Weinnovate Biosolutions As Part Of Their Deeptech Innovators Program
DeepTech Innovators program by Chiratae Ventures is the 6th edition consolidating all the previous programs for the seed and early-stage start-ups with a focus on solving real, major problems through deep-technology across sectors.
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Chiratae Ventures, India’s Venture Capital fund today announced their seed investment in WeInnovate Biosolutions, a startup working in the area of Infection prevention and control as a part of their DeepTech Innovators Program 6th Cohort. The company has developed antimicrobial solutions that reduce hospital-acquired infections and is helping save millions on hospitalization bills. The funding from this round will be used for product approvals, sales, and marketing.
This DeepTech Innovators program by Chiratae Ventures is the 6th edition consolidating all the previous programs for the seed and early-stage start-ups with a focus on solving real, major problems through deep-technology across sectors. Over 250+ companies were part of this program across horizontal tech, mobility, robotics, energy, aerospace, biotech, life sciences, etc. This initiative is in-line with Chiratae’s continued effort to back deep technology solutions and boost innovative thinking coming out of India.
According to the World Health Organization, at any given time over 1.4 million people across the globe suffer from a hospital-acquired infection (HAI). HAIs account for 2 million cases and 80,000 deaths a year. Antimicrobial resistance (AMR) is an increasing global threat, with India being one of the top hotspots. A study published in 2015 by the INICC said that 1 in 4 patients in India is at risk of developing an HAI. Any efforts to bring down the antibiotic usage is going to significantly improve the chances to fight antibiotic resistance. The use of antimicrobial medical devices will have a dual effect. It will not only stop the empirical antibiotic usage but also significantly reduce the huge economic burden on a patient’s family incurred due to extended hospitalization stay. This is the first-ever, “Made in India” technology catering to holistic improvement in the Indian Hospitalization scenario. This “completely Indian solution” not only pushes India towards its “Atmanirbhar Bharat” mission but also will lead to a higher attraction for medical tourism.
Founded in 2016 by three friends, Dr. Milind Choudhari, Dr. Prasad Bhagat & Dr. Anupama Engineer, We innovate Biosolutions is on a mission of ‘Zero Infections’ during a hospital stay. The company aims to achieve this through its range of antimicrobial medical devices that are based on the company’s patented unique, cutting-edge NanoAgCide technology. Their team consists of dedicated scientists and technologists, working together in developing solutions that are rapid and affordable. Their mentors include medical doctors, business strategists, pre-clinical and clinical studies advisors, and product building experts.
“With the current steep-rise in hospital-acquired infections (HAI), followed by the indiscriminate use of antibiotics, it was important to come up with a solution that would drastically bring down the incidences of HAI. This would ultimately result in reduced hospitalization stay, improve hospital foot-fall and improve the quality of stay for a patient in any hospital”, said Dr. Milind Choudhari, Founder & CEO of WeInnovate Biosolutions.
Speaking on the announcement, Mr. Sudhir Sethi, Founder & Chairman, Chiratae Ventures, said “Our goal is to invest in technology solutions across the broad spectrum of deep tech that aim to make people’s lives better. WeInnovate Biosolutions is a unique deep-tech startup that is working to solve a big issue in the healthcare space which is hospital-acquired infections and specifically with the use of catheters, where almost 3.5-4 crore catheters are consumed per year. With their patented technology, WIB has the potential to be a great market leader and capture a significant differentiated market share in India and go global.”