Bangalore: Chennai based Stem Cells solutions provider, LifeCell received an investment of 35 Crore from Helion Venture Partners in core blood banking and stem cell research firm. LifeCell plans to use the funds for ramping up the marketing of stem cell banking in the country and enable the development of novel cell-based therapies. With this deal, Kanwaljit Singh, Senior MD at Helion will join the board. Helion, has thus turned out to be the first venture-capital firm to invest money in a stem cell banking company in India, reports DealCurry.

Since its inception in 2004, LifeCell is a top player in preservation of stem cells from various human tissues including umbilical cord and menstrual blood. It serves around 60,000 clients across 110 locations in India and abroad. The company has located its central processing and storage facility in Chennai, alongside a recently opened back-up unit in Gurgaon.  Besides, it is also a provider of key services such as bedside stem cell processing and newborn screening.

Mauritius registered; Helion Venture Partners is an early to mid-stage venture fund, investing in technology powered and consumer service businesses as well as teams up with management to provide operational value in the area of finance, HR, technology and the like.

The above mentioned kind of services are provided by around 20 hospitals in India such as Narayana Hudalaya, Apollo and many others with other independent firms like Cryobanks International and many more. In this sector, Asian Healthcare fund had invested earlier in Diwan Chand Medical services.

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