Medikabazaar, the healthtech startup, has announced that it has raised $75 million in a CDC Group and Creaegis led series C funding round.
Existing investors like Ackermans & van Haaren (AvH), Rebright Partners, HealthQuad Advisors, Kois Holdings, as well as Sumitomo Mitsui Financial Group also participated in the latest funding round.
Srini Nagarajan, Head of South Asia at CDC, commented, “Access to quality and affordable healthcare is a key component for improved development outcomes in any country, and CDC’s partnership with Medikabazaar comes at a critical juncture when collaboration is urgently needed to address India’s healthcare needs. Beyond our investment, CDC is prepared to devote its sector expertise to support Medikabazaar in scaling its operation across the country to deliver greater variety of essential medical supplies at an affordable cost to more customers.”
Vivek Tiwari, founder & CEO, added, “We are delighted to welcome Creaegis and the CDC Group on board as investors. We look forward to creating a technology-driven platform serving the healthcare ecosystem. The Series C funding has also seen our existing investors extending their trust in us as we continue on our rapid growth path in transforming the state of the health infra industry in India.”
He further informed, “The funds raised will enable us to enhance our international operations and deepen our presence in the Indian B2B healthtech industry.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.