Fidelity Growth Partners India, a private equity division of financial services firm Fidelity Investments, has invested Rs20 crores ($3.9m) in India-based medical diagnostics company XCyton, according to a report in Indian venture capital website VCCircle on Monday.

XCyton received an undisclosed amount of funding in 2007 from Birthstone Capital, Amvar Ventures and angel investor Kiran Mazumdar-Shaw. Birthstone also acted as the operating partner and sole financial advisor to XCyton for the current round.

Founded in 1993, XCyton started out as in the field of immunology-based diagnostics before moving into the area of molecular diagnostics, particularly with regard to critical care infections.

Raj Dugar, senior managing director at Fidelity division FIL Capital Advisors (India), said: "XCyton’s service offerings are well positioned to reduce the high mortality rates associated with several critical illnesses."

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?