Fibroheal Woundcare on Sunday said it had raised Rs 6.3 crore in a pre-Series A funding round from existing promoters and a new set of investors, including leading surgeons, medical professionals, and bankers.

The company also has an additional commitment of another Rs 10 crore from existing and some new investors.

The silk proteins-based medical devices startup intends to use the newly raised funds to scale up its go-to-market strategy, recruit more people, and invest in its product pipeline in the medical devices segment.

“Woundcare is a fast growing segment of the health and wellness sector. Fibroheal is poised to become a major player in this sector with a differentiated technology based on ‘Natural Silk’, a committed leadership and a competent team,” said KK Narayanan, who also invested in this round. Narayanan previously built Metahelix Life Sciences which got acquired by Rallis India, and co-founded Kottaram Agrofoods (Soulfull Cereals) which got acquired by Tata Consumer products.

The fundraise comes amidst significant growth in India’s wound care market, driven by a rise in chronic diseases, growing healthcare expenditures and awareness of wound care solutions, according to a 2024 report by research firm Mordor Intelligence.

Founded in 2017 by Vivek Mishra & Bharat Tandon, Fibroheal’s products are being used in more than 500 hospitals across India and has a presence in over 19 states. The company has also branched out to selling its products on various ecommerce platforms.

The company’s product line, which includes foams, mesh, and powders, among others, is used to heal different types of acute, chronic, traumatic, post-operative, non-healing or difficult-to-heal wounds like bed sores or infected C-section wounds, among others.

Fibroheal has previously raised money from existing promoters Telama Investments, CCAMP and KITVEN.

Launched in 2014, PhotoSparks is a weekly feature from YourStory, with photographs that celebrate the spirit of creativity and innovation. In the earlier 825 posts, we featured an art festival, cartoon gallery. world music festival, telecom expo, millets fair, climate change expo, wildlife conference, startup festival, Diwali rangoli, and jazz festival.

The 2024 edition of the Echoes of Earth festival in Bengaluru was titled Symphony of Seasons. Held recently at Embassy International Riding School, the festival featured a diverse range of electronic music along with art installations on environmental awareness (see our writeups on the earlier Bengaluru and Goa editions of the festival).

“In 2016, we were audacious with what we wanted to create here in Bangalore—a music festival that celebrated alternative music genres, featuring incredible yet emerging artists from around the world. We envisioned a space where music, culture, and sustainability could come together, creating an inclusive environment for all,” Roshan Netalkar, Festival Director of Echoes of Earth and Managing Director at Swordfish Events & Entertainment, tells YourStory.

“Fast forward to 2024, and it is humbling to see how far we have come, with over 40 global artists, 30 stunning installations, and 25 amazing partners—all made possible by a passionate community that believed in this vision,” he proudly adds.

The spectacular stage designs were conceived by Siddhartha Kararwal (Hornet Stage, Greater One-Horned Stage), Muzamil Sharif (Big Jaw Stage), and Grama Collective (Big Tree Stage). They provided stunning backdrops for the stage performers, with vivid contrasts from daytime to night.

“Between annual editions of the festival, we engage with communities through activities like educational workshops. This year, the workshops themselves were tied to seasons, along with nature walks in cities,” Netalkar adds.

The sprawling grounds of the festival were dotted with a range of installations themed on nature and its seasons. Featured artists included Aravani Art Project (Wild Yak), Bheem Styx (Egyptian Vulture), Alt-Native (Jeweled Flower Mantis), Yadhunandan N (Indian Wild Boar), and Amitha (Pharaoh Cuttlefish).

The festival was particularly welcoming to families, pets, and children, with educational workshops and even places to lie down or take a nap. There were ukulele and darbuka workshops, and a Kids Korner and jam sessions by Kadence Experience.

Spanning almost eight hours each day on the weekend, bands from eight countries performed across multiple stages. There were also 25 flea market exhibitors and 120 volunteers at the festival, according to the organisers.

Many of the performers shared insights on their creative process, special acts for the festival, interpretations of success, tips for aspiring artistes, the role of music education, and even the rise of GenAI and its impact on the music industry.

“There are many great music schools in India now which were not there before. Here, students meet other budding producers and learn about different genres,” Hamza Rahimtula observes.

He feels there also needs to be a focus on teaching children about the business of music. “I feel music business courses can empower the future generations. They need to be aware of how the industry works and how the money flows,” he adds.

The Excise Department collective cautions about the view that AI may replace human creativity. “We are living in an era of extreme death, genocide, absurdity, and irony. AI is only a shallow, superficial source of novelty entertainment,” they explain.

Shubh Saran, who fuses progressive rock with classical Indian music, describes how artistes create and perform based on their lived experiences and reflections. “In times of turmoil, we raise awareness and raise collective empathy by taking risks and creating authentic artwork,” he explains.

Tarun Nayar of Plant Biology affirms that music can bring us into ourselves and the present moment. “Music can create a vital connection between us humans and all other beings,” he observes.

“More than ever, we need to FEEL this connection, not just talk about it. This can happen especially through music,” Nayar signs off.

Now what have you done today to pause in your busy schedule and harness your creative side for a better world?

(All photographs were taken by Madanmohan Rao on location at Echoes of Earth 2024.)

Hello,

The way AI is built is about to change.

That’s what OpenAI’s co-founder and former chief scientist Ilya Sutskever thinks as he predicts that pre-training is bound to end soon. Next-generation models, he predicted, are going to “be agentic in a real way.” 

He also said future AI systems will be able to work things out step-by-step in a way that is more comparable to thinking, unlike today’s AI, which mostly pattern-matches based on what a model has seen before.

OpenAI, meanwhile, wants payback. The ChatGPT maker published a blog post featuring Elon Musk’s old emails in which he pushed for the AI startup to be a for-profit. The move comes in response to Musk moving the court to stop OpenAI from moving to a for-profit business. 

The published emails also revealed Musk sought to be OpenAI’s CEO and outlined a plan where he would “unequivocally have initial control of the company” but said that would be temporary. The two other OpenAI co-founders objected, saying he would hold too much power.

ICYMI: Why OpenAI whistleblower, Suchir Balaji, who resorted to suicide, was critiquing ChatGPT.

While many folks on Instagram are having a light-hearted moment enjoying AI-generated spoofs of Bollywood movies, investors are serious about where to put the big bucks.

 Software firm Databricks, which helps enterprises process and analyse their data using AI, is nearing a deal that could become one of the largest venture capital funding rounds in history. It’s close to raising $9.5 billion.

If finalised, it would far surpass OpenAI’s $6.6-billion funding round—the largest-ever venture capital round in history.

Talk about scoring big bucks.

In today’s newsletter, we will talk about 

• A peek into Indian entrepreneurs’ reading list
• Amit Trivedi on balancing creativity with business
• This bar offers cocktails ‘ASPER’ seasons

Here’s your trivia for today: What is considered the oldest library in the world?

Books

Inside Indian entrepreneurs’ reading list

As the Indian startup ecosystem continues to innovate and disrupt the tech infrastructure, entrepreneurs and investors keep going back to business manuals and handbooks that have helped forge their decision-making skills to keep pace. 

YS Life dives into the personal libraries of some of the most notable Indian entrepreneurs and investors to uncover the books that have shaped their thought processes in 2024. 

Page turner:

• Kaivalya Vohra: Co-founder, Zepto: Atomic Habits by James Clear reminded me that progress is about compounding those tiny 1% improvements every day—whether it’s improving customer experiences or team efficiency.
• Kunal Bahl: Co-founder, Snapdeal and Titan Capital: I loved Poor Charlie’s Almanack’s (check the spelling of the title) (by Charlie Munger) multidisciplinary approach, emphasis on mental models, and focus on integrity and lifelong learning.
• Priyanka Gill: Co-founder, Good Glamm Group: The Hard Thing About Hard Things is like a trusted mentor for navigating the realities of running a business. It addresses the gritty, complex challenges of entrepreneurship with unfiltered honesty.

Upbeat

Amit Trivedi on balancing creativity with business

Earlier this year, the playback singer and composer Amit Trivedi announced his latest album—Azaad Collab—which features 22 music artists across 13 tracks. Amit has collaborated with the likes of Sunidhi Chauhan, Armaan Malik, Jubin Nautiyal, and Neeti Mohan, among others, to celebrate diverse voices in the Indian music industry. 

“It is a freedom of expression, of creating something that I resonate with, and like putting out there, without anybody telling me what to make and how to make it,” he reflects. 

Passion for music:

• “There is nothing called struggle, you just flow and you need to love what you’re doing, and be very passionate and dedicated to it…Things just flow and fall into place, that’s what happened to me,” Amit says. 
• Deadlines in particular are spoilsports for creativity. “Creativity is very fluid, it’s not stuck to a particular time limit…But as far as films are concerned, they have release dates set way in advance. We have to work according to those dates…”
• Music-composing is art, at the end of the day, Amit says. Having said that, to also keep creating tracks that are ‘commercial’ and resonate with the masses, it is important to find a balance. 

Wine and Food

This bar offers cocktails ‘ASPER’ seasons

It’s not just Gurugram’s skyline that vies for attention; its cocktail-forward restaurants and bars, too, are making noise for the right reasons. The newest kid to join the block is ASPER, set in the millennium city’s popular hotspot, The Kitchens, in DLF Phase 3. 

Highlights:

• Dolce and Banana cocktail is a spin on the fashion brand D&G. This whisky-based drink from the ‘Spring’ section, with the addition of banana cordial, cinnamon, tincture, and lime juice, bursts with tropical flavours.
• If you are an out-and-out chai fan, there’s a drink called Between the Sheets. The masala tea-infused gin cocktail includes tender coconut water and pandan leaf, creating an earthy taste on your palate.  
• Among the small plates, Shrooms and Burrata, Yam Koobideh Kebob paired with fresh pita, labneh, and fresh chilli sauce, and the Tamarind Caramel Pork Belly with crispy garlic chips on the side left an impression. 

News & updates

• Fake news: The BBC has filed a complaint with the US tech giant Apple over AI-generated fake news that was shared on iPhones and attributed to the broadcaster. One of the group notifications by Apple Intelligence suggested that the BBC News website had published an article claiming that Luigi Mangione, who was arrested in the US over the murder of a healthcare executive, had committed suicide.
• Mainstream: MicroStrategy, the preferred high beta play on the price of bitcoin, will join the Nasdaq 100 index, a move that could further increase demand for the controversial stock that has been on a torrid run this year, alongside the price of the cryptocurrency.
• Social media ban: A US appeals court rejected an emergency bid by TikTok to temporarily block a law that would require its Chinese parent company ByteDance to divest of the short-video app by January 19 or face a ban on the app.

What is considered the oldest library in the world?

Answer: The Royal Library of Ebla, located near Mardikh, Syria. It is estimated to date back to 2500-2250 BC. 

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