LifeCell raises Rs 35 crore from Helion Venture Partners
The country's leading stem cell bank has grown over 50 per cent annually over the last three years, and this year its revenues are projected to exceed Rs 100 crore.
With the investment of Rs 35 crore, Helion becomes the first venture capital firm to invest in a stem cell banking company in India, a company statement said here.
Post this deal, Kanwaljit Singh, Senior Managing Director at Helion, would join the LifeCell board.
"The investment is in line with our strategy to invest in industries with high growth potential. LifeCell is the pioneer and market leader in a very exciting space," he said.
Mauritius-registered Helion is an early to mid-stage India-focused fund managing assets worth USD 600 million. It is one of the most active risk capital players in India with a strong focus on consumer-facing and technology ventures.
Started in 2004, LifeCell is the market leader in preservation of stem cells from various human tissues such as umbilical cord and menstrual blood, having serviced over 65,000 clients across 110 locations in India and abroad.
Its central processing and storage facility is in Chennai and has a back-up unit at Gurgaon.
India records over 27 million births every year, the largest in the world. The concept of stem cell banking holds a huge growth potential considering the benefits of stem
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