PE Fund Investments
Diagnostics firm Rivaara Labs raises funding from Amicus Capital, Kotak
Mumbai-based Rivaara Labs, a Molecular Diagnostics and Point of Care technologies focused company, has raised its first institutional round of equity led by Amicus Capital and Kotak Investment Advisors. The founder of the company, Bharat Daftary, also participated in the round. Founded in 2019 by Bharat Daftary, the erstwhile promoter of Bharat Serums & Vaccines Limited, Rivaara has developed PCR-based test kits in collaboration with European research labs. Rivaara plans to use the funding proceeds to accelerate the development and commercialisation of proprietary test kits, upgrade the manufacturing facilities, expand its lab network, and scale up the scientific sales force as well as technical talent across the country. It plans to expand its network from 12 labs to around 60 labs across India.
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