Portfolio News

Leo Mavely: On the good side

Fortune India

February 7, 2017

Image Credit: Yasir Iqbal

It’s a bloody business, but Mavely (founder and CEO, Axio Biosolutions) is on the good side of it. He sells proprietary emergency blood clotting pads to military and paramilitary forces, and last year expanded to West Asia and Britain. In 2016, Axio set up a factory in Ahmedabad, with an initial capacity of 250,000 units that can be expanded up to 500,000. Mavely says the company has so far sold 1.3 lakh units of its easy-to-peel haemostatic (bleeding reduction) pads. The company is now seeking a U.S. Food and Drug Administration clearance to sell its products there, and has set up a global headquarters in Boston, Massachusetts, to drive the expansion. Apart from selling to defence forces, the company has also launched haemostatic products for the cardiovascular and dental segments. “We have also come up with a kit for the automotive segment and are in talks with cab aggregators and vehicle manufacturers to include it with their offerings,” he says.