Funding Alert

PlasmaGen Biosciences Raises INR 225 Crore in Funding Round Led by Artian Investments

• ByStartupStory     |    December 15, 2023

Bengaluru-based biopharma firm PlasmaGen Biosciences has successfully secured INR 225 crore in funding from a consortium of investors, including UK-based Artian Investments, renowned public markets investor Ashish Kacholia, pharma industry entrepreneurs Anurag Bagaria and Dushyant Patel, alongside other High Net Worth Individuals (HNIs). Notably, returning investors Eight Roads Ventures and F-Prime Capital also participated in the funding round.

PlasmaGen Biosciences specializes in the production of blood plasma-derived pharmaceutical products tailored for the Indian market and emerging economies. The newly acquired capital will be strategically utilized to fuel the company’s international expansion initiatives, support ongoing product development efforts, and cater to working capital requirements.

Founded in 2010 by Vinod Nahar, PlasmaGen Biosciences has successfully raised a cumulative amount of INR 400 crore across multiple funding rounds. In September 2022, the company secured $6.9 million in a Series B funding round at a valuation of $43.6 million from Eight Roads Ventures, as reported by data and market research platform Tracxn.

Vinod Nahar, the Founder and Managing Director of PlasmaGen, expressed gratitude to the investors, stating, “This latest funding strengthens our position as market leaders in our mission to be a trusted and leading Indian biopharmaceutical company, dedicated towards improving the health and quality of life of patients.”

Nahar emphasized the company’s commitment to enhancing the accessibility of blood-plasma-derived products for patients in India and other emerging countries. PlasmaGen Biosciences is recognized for producing critical, life-saving drugs, including albumin, intravenous immunoglobulin, rabies immunoglobulin, hepatitis B immunoglobulin, and RhD immunoglobulin, all under its brand name.

The company operates through a vast network, collaborating with 5000 physicians and hospitals across India. Earlier this year, PlasmaGen Biosciences expanded its operational capacity by establishing a state-of-the-art manufacturing facility for blood-plasma-derived protein therapeutics in Kolar, Bengaluru. This facility has the capability to process up to 5 lakh liters of plasma annually and is equipped to manufacture new products, further contributing to the company’s growth and impact in the biopharmaceutical sector.

Follow Startup Story