Startup | October 15, 2021
AUM Biosciences closes US $ 27 million `Series A’ funding round
Everlife leads the series A round, and SPRIM Global Investments participates in the financing syndicate
Everlife leads the series A round, and SPRIM Global Investments participates in the financing syndicate
The consortium envisages carrying out surveillance of important bacterial, viral and parasitic infections of zoonotic as well as transboundary pathogens
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It works by collecting aerosols and identifies the presence of dangerous pathogens using sensitive, specific and rapid detection in near-real time without laboratory analysis
It has planned an investment of over Rs 80 crore in the next five years
The company plans to raise US $ 15 million
An amount of Rs. 70.9 crore has been earmarked for funding capital expenditure for the proposed expansion
Since its inception, the company has either acquired or taken a majority stake in five companies
The company will shift 100 percent of its energy use to renewable sources for both power and heat by 2025 in order to achieve carbon neutrality
The rolling submission to the U.S. FDA will begin in the fourth quarter of this year
This opens up a huge market for the company’s Magnezis implants in India
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