Sequoia Capital India said Thursday it has invested INR700 million in Celon Laboratories Ltd. to help the biopharmaceutical company set up manufacturing facilities and strengthen marketing activities.
Sandeep Singhal, managing director of Sequoia Capital India, will join the board of Celon Labs, the venture capital firm said in a statement.
Celon Laboratories is expected to have annual revenue of more than INR1 billion in the current fiscal year through March, it added.
Source:Nasdaq