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[Funding alert] Pharma Startup Generic Aadhaar raises funding

[Funding alert] Pharma Startup Generic Aadhaar raises funding
Mr. Ratan Tata and Mr. Arjun Deshpande founder & CEO of Generic Aadhaar

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.

Read also – [Funding alert] Fintech Startup Tartan raises $4.5 mn in Pre-Series A 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.

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