Flipkart founders back med-tech startup Wrig Nanosystems

Flipkart co-founders Sachin Bansal and Binny Bansal are believed to have invested $2.3 million (around Rs 15 crore) in New Delhi based medical technology startup Wrig Nanosystems.

Ranbaxy and Fortis promoters Malvinder and Shivinder Singh along with investment firm RoundGlass Partners’ Gurpreet Singh also invested in this round of fund raising. Avendus Wealth Management Pvt Ltd, the wealth management subsidiary of Avendus Capital Pvt Ltd, was the advisor for this round of funding.m-health

Wrig Nanosystems was founded in 2009 by IIT-Delhi graduate Ambar Srivastava. The company has developed and commercialised a mobile-sized haemoglobin measurement device, TrueHb Hemometer. The devices costs between Rs 3,000 to Rs 12,000 and the company claims to have sold 4,000 devices post launch.

The funds raised will be used to develop and commercialise the product further.

Promoters of neither Flipkart nor Snapdeal commented on a Techcircle.in query on the deals till the time of publishing this report.

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