Axio Biosolutions raises $6 million from TrueScale, others

Mumbai: Axio Biosolutions, a medical technology company backed by Accel and Chiratae Ventures, has raised $6 million in a Series B round led by TrueScale Capital. Existing investors Omidyar Network India, University of California-Ratan Tata Fund and Accel also participated in the fundraising.

Axio, which has now raised a total of more than $20 million, plans to use the fresh capital to build its commercial presence in the United States and the European Union (EU), as well as strengthen its India operations, according to a statement.