You are here: Home » Finance » News » Others
Business Standard

Automed may raise Rs 40 cr

Praveen Bose  |  Chennai/ Bangalore 

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.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, January 14 2010. 00:36 IST