TIFAC Launches Revolving Technology Fund For MSMEs
by Irfan Khan
Technology Information, Forecasting and Assessment Council(TIFAC) has set up a Rs30Cr 'Revolving Technology Innovation Fund' with SIDBI for funding MSMEs for development, up-scaling, demonstration and commercialization of innovative technology based projects. SIDBI will manage the fund on behalf of TIFAC.
The fund will provide capital asistance upto 80% of the total project cost, which should not be more than Rs1 Cr.
The clinical-stage specialty bio-pharmaceutical company Vyome Biosciences Private Limited has raises $14 million in Series-C financing round. The financing round was led by a prominent New York based life sciences fund Perceptive Advisors. Apart from that the funding round saw participation of a Boston-based venture capital Romulus Capital along with existing investors.