XCode raises Rs. 1 crore from angel funding

Chennai-based biotechnology start-up XCode has raised Rs. 1 crore angel funding from Shead Holdings, a micro-venture capital fund from the US, and an individual investor.

The money is being used for the company’s upcoming launches — an anti-ageing topical application and a mobile phone-based health advice service.

Last year, Shead Holdings and R. Narayanan (of Chennai Angels) had invested $2,50,000 in the firm, which was initially incubated at the Vellore Institute of Technology.

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