15 April 2022 | News
Fundraising to further strengthen Medikabazaar’s technological capabilities
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Lighthouse India Fund III has led a new round of $65 million in Mumbai-based startup Medikabazaar, a B2B medical supply chain platform. Lighthouse has invested Rs 225 crores ($30 million) in Medikabazaar along with participation from existing investors Creaegis, Health Quad, Ackermans & van Haaren, British International Investment (formerly CDC) and KOIS Holdings.
Medikabazaar has been growing exponentially to become a prominent digital health-tech platform for medical supply needs of hospitals, nursing homes and clinics, and other medical institutions with categories like medical consumables, devices, equipment, and pharmaceuticals.
The startup has made deep inroads into smaller cities covering over 20,000 pin codes in India with an aim to address all inefficiencies that plague the supply chain for medical supplies. Fueled by the growing demand from healthcare delivery providers and partnerships with domestic and international medical device and consumable brands, Medikabazaar has grown its sales at a magnitude of 25x over the last three years. It aims to be the one-stop procurement solution for healthcare providers, big and small. The company has raised growth capital to scale up its existing product verticals and infrastructure with a technology interface and pursue domestic and international acquisition opportunities.