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MedikaBazaar raises $15 Mn in series B Funding

To invest in rapid growth

Mumbai: Medikabazaar, mumbai-based B2B online marketplace has raised INR 112 Cr ($15 Mn) in a funding round led by HealthQuad, Ackermans & van Haaren, Rebright Partners and Toppan Printing company. The company will use this funding to enhance its technological abilities, supply chain infrastructure and expanding its team. Vivek Tiwari, Founder and CEO, Medikabazaar said that the current investment will help the company grow over the next few years by establishing a larger number of distribution hubs. “So far, we have seen an extremely positive response to our efforts, and our growth over the past year is a testament to this. We are happy that HealthQuad, Ackermans & van Haaren, Rebright & Toppan, along with our existing investors trusted our vision and joined us on our journey towards building a robust infrastructure for last-mile delivery of quality healthcare across the country,” he said.

Since its inception in 2015, Medikabazaar has emerged as a segment leader in the healthcare space. By eliminating the need for intermediaries, it aims at providing hospitals and healthcare facilities pan-India with the right facilities and equipment at the best price. The company’s approach focuses on extensive research on the needs of the Indian market, based on which it tailors its product and service offerings.

 

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