Wound-care products maker Axio Biosolutions raises $6-M from Truescale, Omidyar, others

Bengaluru-headquartered medical technology company Axio Biosolutions has raised USD 6 million (about INR 45 crore) in a funding round led by Truescale Capital. Existing investors Omidyar Network India, University of California–Ratan Tata Fund, and Accel also participated in the funding round. The funds will be used by the firm, based in Bengaluru and Boston, to expand its global footprint, especially in the US and the European Union. Axio has developed a line of proprietary products for the hemostat and advanced wound care market. The company's biomaterial-based technology platform claims to deliver improved patient outcomes and cost efficiency. The products are used in 40 countries.