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News on Medial
HealthQuad-backed CarePal Group aims for profitability on the back of new verticals
VCCircle
·
5m ago
Medial
CarePal Group aims to achieve profitability by expanding its offerings across new verticals. The company, which operates platforms like Impact Guru, CarePal Secure, and CarePal Money, is striving for financial success with backing from Apollo Hospitals and HealthQuad. Co-founder and CEO Piyush Jain indicates that this expansion strategy is critical for reaching their financial goals. The company's diverse services in crowdfunding, insurtech, and lending are central to their growth ambitions.
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PE, VC funds set to invest in Cipla-backed GoApptiv
VCCircle
·
1y ago
Medial
Digital healthcare startup GoApptiv is poised to secure new funding from private equity and venture capital funds. GoApptiv, backed by investors such as Cipla and HealthQuad, recently raised Rs 42 crore ($5 million) from Cipla. The company aims to use the fresh capital to expand its operations and enhance its digital healthcare platform.
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Used car startups seek new routes as revenue tanks
Economic Times
·
1y ago
Medial
New-age used-car platforms such as Cars24, CarDekho, and CarTrade Tech have shifted their focus towards revenue generation from ancillary sources like auto financing, insurance, and classifieds. These companies are looking to improve their unit economics by controlling expenses and introducing value-added services. While the venture-backed companies initially focused on growth-at-all-costs, they are now tweaking their business models to sustain profitability. The slowdown in growth has led to a shift towards enhancing operational efficiencies and exploring new business verticals.
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Adda247 logs 88% jump in revenue to Rs 243 crore
Economic Times
·
1y ago
Medial
Adda247, an edtech startup backed by Google, has reported a revenue of ₹243.39 crore in the fiscal year 2024, showing an 88% YoY increase. The company also reduced its net loss by 66% to ₹101 crore. The growth can be attributed to existing verticals in government job exams and UPSC, as well as the introduction of the K13 vertical. Adda247 aims to achieve profitability by the end of this year and plans to expand its reach to more states and languages. It currently has around 1 million paid users and aims to reach 1.7 million by the end of the year.
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Bottomline: Will PE-backed Accumax can turn around after Covid slump?
VCCircle
·
1y ago
Medial
Accumax Lab Devices, a healthcare equipment manufacturer backed by private equity firms, is seeking to recover from a decline in revenue and profitability caused by the Covid-19 pandemic. The company, known for its production of tubes, pipettes, and pipette controllers, experienced a decrease in demand and excess inventory. With the support of investors such as Creador and InvAscent, Accumax Lab Devices aims to bounce back and regain its financial stability.
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Meesho aims to grow merchant base 10 times to 1.1 crore by 2027
Economic Times
·
1y ago
Medial
Meesho plans to onboard 100 million merchants by 2027, capitalizing on the relaxed GST rules for online sellers. CEO Vidit Aatrey sees growth potential in the nascent e-commerce market due to increased internet penetration and online payment adoption. The Softbank-backed company, the first Indian e-commerce firm to achieve group-level profitability, aims to expand its merchant base while charging for services like logistics and advertising.
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HealthQuad weighs two more exits, sets sight on wrapping up debut fund
VCCircle
·
1y ago
Medial
HealthQuad, a healthcare-focused venture capital firm, is in discussions to sell its stakes in two more companies as it aims to close its first fund. The firm, which was founded by the co-founders of private equity firm Quadria Capital, has already achieved two exits in recent months. HealthQuad focuses on investing in early-stage healthcare startups and has been actively involved in the Indian healthcare sector.
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Fintech giant RazorPay to shift domicile to India; Announces new product launches
IndianStartupNews
·
1y ago
Medial
Indian payments provider, Razorpay, aims to achieve profitability across all business lines within the next two years and is considering listing on Indian exchanges. The company, which is shifting its domicile back to India, has seen its robust cash reserves and operational efficiency position it well for an IPO, according to CEO Harshil Mathur. Razorpay recently bounced back from a year-long ban on merchant onboarding by the Reserve Bank of India and is launching new products, including an AI-powered payment gateway and a device supporting QR and contactless tap card payments.
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HealthQuad appoints Namit Chugh as director
Entrackr
·
4d ago
Medial
HealthQuad, the healthcare-focused venture capital arm of Quadria Group, has appointed Namit Chugh as Director to enhance its investment focus across deep-tech and tech-enabled healthcare models. Chugh, who joins from W Health Ventures, brings over 15 years of experience in healthtech investing and consulting, having led investments in Wysa, BeatO, and Mylo, and launched India’s only seed-to-venture healthtech platform through 2070 Health. At HealthQuad, Chugh will focus on sourcing and scaling high-impact startups across digital care, medtech, and biopharma, aligned with the firm's strategy under HealthQuad Fund III. The Fund III is targeting a raise of up to $200 million with a greenshoes option of $100 million. According to the company, his appointment strengthens HealthQuad’s early-stage capabilities and supports its goal of building healthcare ventures that deliver both outcomes and investor returns.
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Sumadhura Group announces 5-acre land acquisition in East Bengaluru ; eyes Rs 500 crore topline
Economic Times
·
1m ago
Medial
Sumadhura Group has acquired a 5-acre land parcel on Soukya Road in East Bengaluru, planning a residential project expected to generate ₹500 crore in revenue. This acquisition enhances Sumadhura's presence in the rapidly developing area, known for its tranquility and connectivity. The group, which has delivered over 54 projects, aims to continue transforming Bengaluru’s real estate scene, expanding its portfolio across residential, commercial, and other verticals for diverse customer needs.
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Sirona founders, IAN withdraw default notices against Good Glamm Group
Livemint
·
10m ago
Medial
- Good Glamm Group has completed the acquisition of women's wellness brand Sirona Hygiene for ₹450 crore ($60 million) in an all-cash deal. - Founders of Sirona Hygiene and investor IAN previously filed default notices against Good Glamm Group for non-payment of dues, but the notices have now been withdrawn after an agreement was reached for pending payments. - Good Glamm Group invested ₹100 crore in Sirona in 2022 and is said to have earned substantial returns for early investors. - Sirona has tripled its revenues in the past 24 months and recently acquired the direct-to-consumer brand Impower. - Good Glamm Group operates across multiple verticals and is backed by investors such as Warburg Pincus, Prosus Ventures, and Amazon.
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