Chennai,
India – January 8, 2025 : Denovo Bioinnovations Pvt. Ltd., an R&D-driven, IP-backed deep-tech
company specializing in advanced wound closure and handheld surgical robotics,
has raised ₹1.96 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.