Advamedica has raised $5.2 Mn in Series B1 round of funding led by Omidyar Network, along with participation from existing investors Accel, University of California, and Ratan Tata’s UC-RNT Fund, and Chiratae Ventures (prev. IDG Ventures India).
The company plans to use the latest funding to expand its footprint, especially in the USA and Western Europe, while continuing to develop novel surgical and wound care products for the global wound-care market – poised to touch $24.8 billion by 2024 from $19.8 billion in 2019.
