Genworks Health Private Limited, a company situated in Bengaluru, has successfully secured Rs 41 crore in funding. The funding round was primarily driven by the Evolvence India Fund.
The board of directors of GenWorks has approved a special resolution to issue 5,12,500 Compulsory Convertible Preference Shares (CCPS). Each share would have a face value of Rs 100 and a premium value of Rs 700, with the purpose of raising the mentioned amount.
Evolvence Fund and Somerset Indus Healthcare Fund have contributed Rs 24.6 crore and Rs 8.2 crore, respectively. Kasiraman Swaminathan and Ramesh Kumar Sivaraman have invested Rs 6.1 crore and Rs 2 crore, respectively.
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Evolvence India (EIF) is a specialized investment management firm that concentrates on Private Investments in India, encompassing Buyouts, Growth, and Venture Capital. EIF is financially supported and affiliated with Evolvence Capital, an alternative investment company headquartered in Dubai.
GenWorks, originally established as a startup with investment from Wipro GE, has the goal of developing a platform to address the three primary obstacles in healthcare: accessibility, cost, and acceptance.
About GenWorks Health
Founded in 2023 by S Ganeshprasad, GenWorks Health – a young, industrious company striving to achieve a healthier India. With the backing of Wipro GE Healthcare, GenWorks endeavors to make quality care readily accessible across the country.
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