Molbio Diagnostics raises $85 mn from Temasek

The Goa-based diagnostics chain Molbio Diagnostics Pvt. Ltd. has received an investment of $85 million (about 680 crore) from the Singaporean investment company Temasek.

Truenat, a platform that uses PCR technology to detect at least 22 infectious diseases including tuberculosis, swine flu, dengue, and HIV, is developed and marketed by Molbio and subsidiary Bigtec Labs. Molbio was founded in 2000. The platform, claims the company, can produce results in 60 minutes at a reasonable cost.

Additionally, Motilal Oswal Private Equity (MOPE), a division of Motilal Oswal Financial Services Ltd, is supporting the business with an investment of up to Rs 240 crore (about $32.5 million) in 2020.