VMPL
Chennai (Tamil Nadu) [India], January 8: Denovo Bioinnovations Pvt. Ltd., an R&D-driven, IP-backed deep-tech company specializing in advanced wound closure and handheld surgical robotics, has raised Rs1.96 Crore in its latest funding round led by Campus Angels Network. This funding will propel Denovo's efforts in product development, clinical validation, regulatory approvals, and to be ready for the commercialization of the products.
Founded in 2020 by Dr. Nikhil Mamoria, a doctor-turned-innovator, Denovo is at the forefront of surgical innovation. Its flagship products, SutureSure®, India's first automated suturing system, and LapSure®, an advanced laparoscopic suturing tool, are powered by the proprietary SmartStitch Technology. These groundbreaking solutions simplify complex wound closure processes, making surgeries faster, safer, and more precise. Denovo holds a robust IP portfolio, including 2 granted patents and 9 pending patents across India, the USA, Europe, and other regions.
Denovo's approach leverages a unique "razor-razor blade" revenue model, combining reusable devices with disposable cartridges to create a sustainable and scalable business framework. The company is targeting a global Total Addressable Market (TAM) of $36 billion, with a Serviceable Obtainable Market (SOM) of $400 million.
Leadership Insights
Dr. Nikhil Mamoria, Founder and CEO of Denovo, remarked, "This funding marks a significant milestone in our mission to revolutionize surgical care. With the support of Campus Angels Network and our investors, we are poised to bring our cutting-edge solutions to market, addressing critical challenges faced by surgeons and improving patient outcomes."
Chandran Krishnan, Managing Director & CEO of Campus Angels Network, commented, "Denovo's innovative technologies align perfectly with our mission to support transformative startups. Their focus on advanced wound closure and surgical robotics holds immense potential to redefine surgical care globally. We are excited to partner with Denovo in their journey toward creating a lasting impact in healthcare."
Driving Innovation in Surgical Care
This funding will enable Denovo to accelerate its go-to-market plans, complete pre-clinical and clinical studies, and achieve key regulatory approvals. By leveraging strong partnerships with medical professionals and institutions, Denovo is well-positioned to scale its solutions, making surgeries safer and more efficient worldwide. As a pioneer in India's surgical robotics space, Denovo is poised to lead the next wave of healthcare innovation.
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