S3V Vascular Technologies raises funds to set up new facility

Former Chairman of Larsen & Toubro AM Naik and veteran investor Madhusudan Kela are among the marquee investors who have provided Series B funding to S3V Vascular Technologies. The money will be used to establish ₹300 crore state-of-the-art integrated manufacturing facility for neurovascular devices

S3V Vascular Technologies Limited is a medical devices manufacturing company based in Mysore.

Badari Narayan, Promoter, Director and CEO of S3V Vascular Technologies, said, “S3V is investing in NextGen devices in neuro, cardiac, and spine, creating significant value for customers and contributing to the future of healthcare. Our innovations align seamlessly with Prime Minister Narendra Modi’s AYUSHMAN BHARATH program, affordable healthcare and medico-engineering excellence.”

Also read: Air India building in Mumbai now belongs to Maharashtra govt

Currently, around 90 percent of medical devices are imported, presenting an opportunity for growth in the sector. Industry experts project the Indian medical devices market to reach $50 billion by 2025, growing at an impressive annual rate of 15 to 20 percent, outpacing the global industry.

COMMENT NOW