Ratan Tata-Backed Generic Aadhaar, a Pharmaceutical startup, has raised undisclosed amount in its Pre-Series A funding round from Beyond Next Ventures at a valuation of ₹500 crore.
The startup plans to use the funds to grow its number of franchise stores across India to 3000, and will also invest in its digitization strategy and enhance product offerings.
According to the startup, it has diluted its stake to around 10% in the current round.
The Mumbai-based Generic Aadhaar was founded in 2018 by Arjun Deshpande, It sells generic drugs through its chain of franchisees, and also provides billing and inventory management software to franchise owners.
“This fund, which we look to complete deployment within the next eight months, will help us grow faster and create a wider impact by aiming to solve the scarcity of medicines in urban, Tier 2 and Tier 3 cities across India. Having received an astounding response from our customers, we aim to do a Series A round in the next 8-12 months,” said, Arjun Deshpande, founder & CEO of Generic Aadhaar.
In 2020, Generic Aadhaar had raised an undisclosed amount in funding from Ratan Tata.
The company sells its products directly to consumers through stores owned by its franchisees, thus offering up to 40% margin to store owners.
It aims to have additional 1K-3k franchisee stores in India in the current financial year (FY 22-23).
About Generic Aadhaar
Generic Aadhaar is the top medical franchise in India that has brought a new ecosystem to the old decade pharma world. Changemaker Arjun Deshpande recognized the root cause in the traditional pharma industry and understood that it’s the necessity of the hour to bring revolution. It has brought a revolution where none of the companies is offering life-saving high-quality medicines at the price Generic Aadhaar is giving. Their generic medical franchise provides High-Quality medicines at up to 80% discount from manufacturers to end customers directly cutting down all the costs of a middle chain such as marketing, distributor, stockist, supply chain, etc. cost.
Generic Aadhaar is giving an affordable medicine store franchise in India. They are bringing all small mom-and-pop medical stores that are losing their business in the market because of huge competition under one roof of our brand to help them. Generic Aadhaar is providing a medical store franchise to the stand-alone pharmacy to compete with big retail medical malls and online pharmacies.
Generic Aadhaar has more than this in a pocket. It provides user-friendly software to these small local store owners that Manage Invoicing & billing and it is built for scaling the business. On the application of Generic Aadhaar, the common man can order the medicine at the same discount and it reaches within one hour to their doorstep from a nearer shop of the location.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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