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Wrig Nanosystems, raises Rs 15 crore in funding from Flipkart Cofounders

Wrig Nanosystems, a medical technology startup founded by an IIT Delhi graduate, has raised Rs 15 crore in funding from Flipkart Cofounders, Sachin and Binny Bansal, former Ranbaxy and Fortis promoters Malvinder and Shivinder Singh, investment firm Round-Glass Partners’ Gurpreet Singh and others.

 

The startup has developed a mobile phone-sized device to measure haemoglobin in a few minutes, called TrueHb Hemometer. The Delhi-based startup, founded by 30-year-old Ambar Srivastava, will use the funding to commercialise and further develop the product. The funding has been raised from Avendus Wealth Management’s HNI clients. Avendus Wealth Management was the advisor on the round.

“We specialise in minituarising medical devices, like Swiss watchmakers who minituarised big wall clocks to pocket and wrist size. So, the access and time taken to use the devices gets democratised,” said Srivastava. The startup plans to develop more devices for “tests which are most frequently done in pathlabs”, he said. Wrig started selling TrueHb in December last year, and has sold over 4,000 units till now.
The device, which costs Rs 3,000-12,000, has been purchased by healthcare chains like Max and Fortis, besides the governments of Madhya Pradesh, Uttar Pradesh, Uttarakhand and Himachal Pradesh, who are using it for their public health initiatives. Several individual patients suffering from illnesses like kidney failure and thalassemia are also using the device. “I believe that the developing world needs indigenous solutions, which fit the needs of the consumers and the market,” said Flipkart’s Binny Bansal.

in funding from Flipkart Cofounders, Sachin and Binny Bansal, former Ranbaxy and Fortis promoters Malvinder and Shivinder Singh, investment firm Round-Glass Partners’ Gurpreet Singh and others.

The startup has developed a mobile phone-sized device to measure haemoglobin in a few minutes, called TrueHb Hemometer. The Delhi-based startup, founded by 30-year-old Ambar Srivastava, will use the funding to commercialise and further develop the product. The funding has been raised from Avendus Wealth Management’s HNI clients. Avendus Wealth Management was the advisor on the round.

“We specialise in minituarising medical devices, like Swiss watchmakers who minituarised big wall clocks to pocket and wrist size. So, the access and time taken to use the devices gets democratised,” said Srivastava. The startup plans to develop more devices for “tests which are most frequently done in pathlabs”, he said. Wrig started selling TrueHb in December last year, and has sold over 4,000 units till now.
The device, which costs Rs 3,000-12,000, has been purchased by healthcare chains like Max and Fortis, besides the governments of Madhya Pradesh, Uttar Pradesh, Uttarakhand and Himachal Pradesh, who are using it for their public health initiatives. Several individual patients suffering from illnesses like kidney failure and thalassemia are also using the device. “I believe that the developing world needs indigenous solutions, which fit the needs of the consumers and the market,” said Flipkart’s Binny Bansal.
Source : Economic times

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