Stemcell banking firm LifeCell International Pvt Ltd has raised around Rs.35 crore from Helion Venture Partners, diluting a minority stake in the company. The fund would be used towards increasing market penetration of stem cell banking and to develop novel cell based therapies, for which the company is also looking for a partner.
LifeCell has so far serviced over 65,000 clients across 110 locations in India and abroad. Following the fund infusion, Kanwaljit Singh, senior managing director at Helion Advisors, would join the board of LifeCell International.
Source: Business Standard
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