You are here: Home » Companies » News
Business Standard

LifeCell Intnl raises Rs 35 cr from Helion Venture Partners

The fund would be used towards increasing market penetration of stem cell banking

Gireesh Babu  |  Chennai 

banking firm Pvt Ltd has raised around Rs 35 crore from Partners, diluting a minority stake in the company. The fund would be used towards increasing market penetration of stem cell banking and to develop novel cell based therapies, for which the company is also looking for a partner.

"The fund would be used to increase penetration in the country, where there is a huge potential for this segment," said Mayur Abhaya, CEO and managing director of However, he refused to reveal the percentage of stake diluted, commenting that the promoters hold majority share.

Following the fund infusion, Kanwaljit Singh, senior managing director at Advisors would join the board of

The company is also looking at offering therapies in segments including immunotherapy, wound care and tissue regeneration, in collaboration with a partner.

LifeCell has so far serviced over 65,000 across 110 locations in India and abroad. The company expects annual revenue to grow over Rs 100 crore this year, added a company announcement.

Partners, is a Mauritius-registered early to mid-stage India focused fund, which manages assets worth $600 million and above, added a press statement from LifeCell

First Published: Wed, February 20 2013. 19:11 IST
RECOMMENDED FOR YOU