Automed Systems, which set up its Probiosys Center for Excellence (CoE), aims to raise funds to scale up the CoE for Rs 40-50 crore. It has invested Rs 8 crore on the CoE.
SBI had funded the first round of investments. It is evaluating the next round of funding too. It is studying the feasibility of funding and syndicating the next round of funding requirement of the CoE. An amount of Rs 40 crore may be needed by the company in another 3-4 years. Automed provides automation in microbiology, instrumentation for BT and medical devices.
According to Bhanu Prakash, MD & CEO, Automed Systems, “Industry always seems to be a step ahead of academia in taking to new technologies. With the increasing demand for qualified life sciences professionals, the availability of quality talent is decreasing.” This is the impetus for such a venture, added Prakash.
Probiosys Centre of Excellence can train upto 60 people simultaneously and about 300 a day. The company has been trying to rope in the government for a public-private partnership model in training people to be industry-ready.