Molbio Diagnostics Raises $85 Million at $1.6 Billion Valuation

Molbio Diagnostics is a company-manufacturer of molecular diagnostics. It mainly specializes in the low-cost diagnosis of tuberculosis and other diseases. The company is known for Truenat, its molecular diagnostic testing platform. The service can detect at least 22 infectious diseases such as HIV, swine flu, and dengue, by using PCR technology.

The investments came from Temasek. After the round is completed, Molbio will become a unicorn. The funding raised will be used for the global network expansion. “In terms of inorganic growth, we are looking at a few options to acquire assets in addition to our R&D. We plan to close an acquisition soon,” Sriram Natarajan, chief executive officer and diagnostics director, Molbio.

Molbio Diagnostics, Goa, India, was founded by Sriram Natarajan in 2000. As of now, the company has a presence in more than 40 countries. It plans to add from 20 to 25 more countries each year. “The demand for high-quality, point-of-care molecular diagnostic systems is higher than ever today. The strategic partnership with Temasek will strengthen our ability to provide sustainable choices to address global healthcare challenges,” Sriram Natarajan. Molbio has already employed 750 people, 400 of them in manufacturing and 200 – in sales.

Previous Post

OpenStore Raises $150 Million at Almost $1 Billion Valuation

Next Post

BigBasket in Plans to Raise $200 Million at a $3.5 Billion Valuation

Related Posts