Bangalore based science and technology company, Ameliorate Biotech Private Ltd. has raised Rs. 2 crores for the funding of their product ‘ASSURED’ or Affordable Sensitive Specific User-friendly Rapid/robust Equipment free Device. This is a single diagnostic device to detect dengue, malaria, and chikungunya. ASSURED is a patented kit and can detect all
these three mosquito-borne diseases in just 10 minutes on the first day of the patient showing symptoms.
Ameliorate Biotech is the startup of PadUp, and the funding came from Villgro USA, Vinners, SINE IIT Bombay, LetsVenture and DERBI.
Ameliorate Biotech was founded jointly by Binita Srivastava Tunga and Rashbehari Tunga, both biotech scientists. Ameliorate was founded with an intention to provide people with quick and pocket-friendly diagnostics as the founders had lost their 11-year-old niece to dengue.
The money will help in finishing the clinical trials and subsequently commercialise the kits, said CEO of Ameliorate, Tunga.
The co-founder of PadUp, Pankaj Thakar, revealed that this funding round was just the beginning for Ameliorate, and the company had several more milestones to establish.
Chairperson of Vinners, Havinderjit Bhatia said that, his company saw potential in ASSURED and that the team of Ameliorate was doing it for a good cause, is what motivated them for funding. This investment in Ameliorate made it the 11 th investment for Vinners.
Once commercialised, ASSURED’s quick detection process will have a major impact in clinical diagnostics and save a lot more lives than before.