Serigen Mediproducts Secures INR 10 crores Funding led by IAN Alpha Fund
Pune based, Serigen Mediproducts, a unique biomedical products manufacturing company has raised INR 10 crores from IAN Alpha Fund & Collossa Ventures, along with existing angel investors. This significant financial boost will be instrumental in furthering the company’s mission to revolutionize regenerative medicine. Serigen Mediproducts is also a part of BioAngels’ portfolio company, which aligns with their vision of advancing biotechnology innovations.
Serigen is the forefront of developing tissue regeneration products using silk proteins. With a focus on innovation and sustainability, the company aims to revolutionize regenerative medicine through cutting-edge research and development.
Serigen has developed two innovative products: Seriderm, an absorbent wound dressing designed using silk protein to accelerate wound healing, and Serimat, a silk protein mesh used in reconstruction surgeries of various organs, including breast reconstruction, abdominal wall reconstruction, and dural repair. These products offer cutting-edge solutions for medical professionals, leveraging the unique properties of silk protein to enhance patient outcomes in wound care and surgical procedures.
Anuya Nisal, Founder & CEO, Serigen Mediproducts, said “We are delighted to welcome new institutional investors like the IAN Alpha Fund in this round of funding and thank them for their faith in the company. We are also grateful for other existing/incoming investors for their support of Serigen. The proceeds of the funding will be directed towards completion of clinical trials, obtaining Indian and global regulatory approvals for our product lines, accelerating sales and marketing efforts, and building and strengthening our team.”
Sarika Saxena, Managing Partner IAN Alpha Fund, said “We, at IAN Alpha Fund, are thrilled about our investment in Serigen Mediproducts which has developed medical products for critical care. Serigen reflects IAN Alpha Fund’s thesis to invest in innovation and solving real problems. We look forward to working with the founders, Dr. Premnath Venugopalan, Dr, Anuya Nisal and Dr. Swati Shukla and their vision of building a globally acclaimed company.”
Serigen Mediproducts has garnered widespread recognition and numerous accolades for its ground-breaking work in the field. The company was the winner of the Poster Pitch at the Business Innovation Competition of the Orthopaedic Research Society in 2024 and has been a recipient of prestigious grants such as the DBT BIRAC BIG, SBIRI, and BIPP, to name a few.
IAN Alpha Fund
IAN Alpha Fund, a Rs. 1000 crores (US$125mn) SEBI registered AIF Category II VC Fund, is the second Fund in IAN’s series of Funds. The Fund will explore opportunities in diverse sectors such as fintech, healthtech, renewable energy, deep tech, agritech, medtech, hardware and electronics, manufacturing, Web 3.0, Metaverse, Industry 4.0, SaaS, D2C, and other domains where innovation abounds. The Fund will invest in innovative startups solving real problems for India and the world, with sustainable business models enabling scale by leveraging technology. With the IAN Alpha Fund, IAN continues its legacy of building a portfolio of high-quality companies by founders who not only understand the customer need but have leadership qualities to build a high-quality management to build valuable businesses.
IAN Group
IAN Group is the country’s single largest platform for seed and early-stage investment platform with IAN Angel Network, BioAngels and IAN Fund I and IAN Alpha Fund enabling entrepreneurs to raise from Rs. 50 lakhs to Rs. 50 crores. The platform brings money, mentoring from successful entrepreneurs and global market access. The platform is sector-agnostic and has funded innovative start-ups across 19 sectors in India and 7 other countries, thereby growing the global footprint of companies. IAN has been listed by Forbes as one of iconic business and economic events of Independent India, over 75 years along with LIC, NASSCOM, RBI, Naukri.com amongst others.