Kolkata-based early stage venture capital firm Navam Capital has invest $1 million in Vyome Biosciences Pvt Ltd, a new venture focused on dermatology and skin care.
Vyome will develop research-based pharmaceutical solutions for anti-fungal indications, chronic wound healing and for pigmentary disorders of the skin such as vitiligo.
The global dermatology and wound care market is estimated at over $15 billion.
Navam Capital is the early-stage investment arm of Kolkata based GPSK Investment, and focuses on early stage investments on advanced materials, life sciences, clean technology, Internet and other emerging technologies.
Indian Angel Network (IAN) has invested in Span Across IT Solutions Pvt Ltd, which runs an online tax filing service called TaxSpanner.com for a minority stake. No financial details were provided.
The funds raised will be used by the three year old start-up to accelerate its growth and for product development. This is the first round of external funding by the Delhi-based startup.
"IAN is going to overemphasise on the privacy matter and ensure that the company achieves the highest governance standard," said Sanjay Bansal, an investment banker and another IAN member who has invested in the firm.
Also, TaxSpanner is focusing on getting corporate clientele besides the retail consumers. It has tied up with more than 100 companies with clients like HCL Technologies, Accenture, among others. TaxSpanner also has clients like Citibank and Punjab National Bank, who use its services for their customers. The company now has around 200,000 users from hundreds of employers in India.
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