Healthcare equipment manufacturer Accumax Lab Devices Pvt. Ltd has raised $68 million in funding round from Private equity firms Creador and India Life Sciences Fund.
Ahmedabad-based Accumax was founded in 2003 by Chirag Shah and Tejas Shah, It has six manufacturing facilities in India and Germany, and employs 1,500 people to serve its customers in over 120 countries.
“Chirag and Tejas have deep design and manufacturing capabilities, with the built infrastructure of 450,000 sq ft including 75,000 sq ft of clean room manufacturing facilities. This has enabled them to have an extensive product portfolio of more than 2,300 SKUs, becoming the supplier of choice for global customers as well as original equipment manufacturers,” said, Vaibhav Doshi of Creador.
Private equity firm Creador focused on long-term investments in growth-oriented businesses in Southeast Asia and South Asia.
“India Life Sciences Fund III is excited to partner with Accumax which has built global presence and scale over the last 20 years under the leadership of Chirag and Tejas, and is poised to benefit from the increased global focus and investments in vaccines, biopharma and pharma research activities post the COVID-19 pandemic,” said, Sumit Gupta, Managing Director, InvAscent (Advisor to India Life Sciences Fund III).
Accumax Lab Devices is one of the largest manufacturers of liquid handling and lab consumables like Pipettes, Dispensers, Controller, Pipette Tips, Centrifuge Tubes, PCR consumables, Deepwell Plates, Cryoials, and many other products globally. It has advanced manufacturing & assembly facilities to produce all the high-quality and next-gen products under one roof.
Neuation – a part of Accumax group, has developed feature rich, high quality lab equipment like Centrifuges, Shakers and Stirrers to meet and exceed the demand and requirements of the Research labs. Through these products we serve various industries like clinical, biotechnology, molecular biology, life science, pharmaceutical, biopharmaceutical, analytical, industrial, and many more. They are present in more than 130 countries with help of our esteemed distributors, OEM partners, and most importantly our end users.
Driven by a culture of change and innovation, they constantly strive to improvise on their technology, process, and product quality to provide exceptional precision and ease in usage. This has helped them to carve a niche for themselves and has become the very reason behind our monumental growth.