Singapore-based investment firm Temasek infuses over Rs 690 crore in Molbio Diagnostics
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New Delhi: Healthcare solutions provider Molbio Diagnostics on Monday said Singapore-based investment firm Temasek has invested USD 85 million (over Rs 690 crore) in the company. Goa-based Molbio Diagnostics is known for its 'Truenat' technology -- a portable, battery-operated real-time PCR platform that can be used for testing infectious diseases, including TB, COVID-19, Hepatitis-C virus, human papillomavirus, influenza and vector-borne diseases like dengue, chikungunya and malaria.
The fresh funds from Temasek along with those from existing investors such as Motilal Oswal Alternates, will help the company accelerate development and commercialisation of new technologies based on clinical need gaps, Molbio Diagnostics said in a statement.
This will also help the company in fast-tracking its efforts to take the Truenat platform to global markets, it added.
"The demand for high-quality, point-of-care molecular diagnostic systems is higher than ever today. The strategic partnership with Temasek will strengthen our ability to provide sustainable choices to address global healthcare challenges," Molbio Diagnostics Director and CEO, Sriram Natarajan said.
Read also: Molbio Diagnostics unveils Truenat RT-PCR test for HIV
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