[Funding alert] Medikabazaar raises $75M in a Series C round led by CDC Group, Creaegis, others

B2B healthtech startup ´╗┐Medikabazaar´╗┐ has brought $75 million up in a Series C round drove by UK-based advancement finance foundation CDC Group and PE reserve Creaegis. 

The round likewise saw cooperation from existing financial backers, including Belgium-based Ackermans and van Haaren (AvH), HealthQuad Advisors, Japan-based Rebright Partners, Continental Europe-based Kois Holdings, and Sumitomo Mitsui Financial Group. This is probably the biggest arrangement in the B2B medical care space in India. 

Preceding this, Medikabazaar had raised a Series B round of $15.8 million out of 2019. 

The Mumbai-based internet based commercial center for clinical supplies intends to use the new capital assets to extend its stockpile biological system and tech-drove circulation channels across geologies. It likewise plans to grow to the Middle East, North America, and Southeast Asia. 

Srini Nagarajan, CDC's Head of South Asia, said in an assertion, "Admittance to quality and reasonable medical care is a vital part for further developed improvement results in any nation, and CDC's organization with Medikabazaar comes at a basic crossroads when cooperation is desperately expected to address India's medical care needs. Past our venture, CDC is ready to commit its area mastery to help Medikabazaar in scaling its activity the nation over to convey more noteworthy assortment of fundamental clinical supplies at a reasonable expense for additional clients." 

"This association will expansively affect working on individuals' wellbeing and personal satisfaction," he added. 

Established in 2015 by Vivek Tiwari and Ketan Malkan, Medikabazaar as of now controls more than 100,000 clinical foundations, and in excess of 150,000 free medical care experts internationally. 

It has onboarded in excess of 15,000 vender accomplices, and conveyed more than 500 million units of clinical supplies to date. 

"We are pleased to invite Creaegis and the CDC Group on board as financial backers. We anticipate making an innovation driven stage serving the medical care environment. The Series C subsidizing has additionally seen our current financial backers expanding their confidence in us as we progress forward our fast development way in changing the condition of the wellbeing infra industry in India." 

"The finances raised will empower us to improve our worldwide activities and extend our quality in the Indian B2B healthtech industry," he added. 

Riding on the pandemic-drove blast in the medical care foundation area, Medikabazaar is focusing on a 300 percent development through FY22. 

Prakash Parthasarathy, Managing Partner at Creaegis, added, "The medical services environment needs profound computerized change to convey proficient consideration and Medikabazaar has spearheaded an interesting advanced inventory network stage to scale medical clinics and facilities the nation over. We anticipate building a main cutting edge organization with Vivek and group and are completely dedicated to bringing Creaegis' computerized working abilities and connections to help this excursion."

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