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Pharmacy startup Zeno Health raises $25 million in funding round led by STIC Investments

Economic Times

Economic Times · 1y ago

Pharmacy startup Zeno Health raises $25 million in funding round led by STIC Investments

Zeno Health, a pharmacy chain focused on generic medicine, has raised $25 million in a Series C funding round led by STIC Investments. Existing investor Lightbox Ventures also participated. The Mumbai-based company, formerly known as Generico, primarily sells generic medicines and operates a franchise pharmacy network called Zeno Health. The funding will be used to expand the company's consumer base and footprint, as well as enhance its technological infrastructure. Zeno Health currently operates 180 stores and serves 2.5 million consumers.

Related News

Zeno Health Bags $25 Mn Funding To Bolster Its Omnichannel Pharmacy Play

Inc42 · 1y ago

Zeno Health Bags $25 Mn Funding To Bolster Its Omnichannel Pharmacy Play

Mumbai-based healthtech startup Zeno Health has raised $25 million in a Series C funding round led by South Korean private equity firm STIC Investments. The funds will be used to fuel the company's growth, expand its operations, and enhance its technological infrastructure. Zeno Health, founded in 2017 by Siddharth Gadia and Girish Agarwal, operates an omnichannel pharmacy platform that sells generic medicines. The company aims to make quality healthcare affordable and has plans to reach 10 million consumers monthly. The online pharmacy market in India is projected to reach INR 8,947 crore by 2027.

Zeno Health specializing in generic medicines raises $25M in a Series C round

IndianStartupNews

IndianStartupNews · 1y ago

Zeno Health specializing in generic medicines raises $25M in a Series C round

Mumbai-based startup Zeno Health has raised $25 million in a Series C funding round led by STIC Investments, with participation from existing investor Lightbox Ventures. The funding will be used to expand Zeno Health's consumer base and enhance its technological infrastructure. The startup operates omnichannel stores and micro-franchises across Maharashtra, providing prescription medicines and non-prescription goods. Zeno Health aims to serve one crore consumers monthly and reduce their healthcare expenditure by 50%. The company has served 25 lakh consumers to date.

Lightbox-backed Zeno Health pockets Series C cheque from South Korean PE firm

VCCircle

VCCircle · 1y ago

Lightbox-backed Zeno Health pockets Series C cheque from South Korean PE firm

Mumbai-based healthtech startup Zeno Health has raised $25 million in a Series C funding round led by South Korean private equity firm STIC Investments, with participation from existing investor Lightbox. Zeno Health plans to use the funds to expand its consumer outreach, extend its geographical footprint, and enhance its technological infrastructure. The company, founded in 2017, operates omnichannel stores and micro-franchises, and the investment will support its growth plans. STIC Investments, with $6.3 billion under management, has invested in various sectors and also counts Dunzo among its India portfolio companies.

Lightbox-backed Zeno Health buys online pharmacy startup

VCCircle

VCCircle · 1y ago

Lightbox-backed Zeno Health buys online pharmacy startup

Zeno Health, a healthcare company backed by Lightbox, has acquired online pharmacy startup Tablt Pharmacy in an all-stock deal. The financial details of the deal were not disclosed. The acquisition will help Zeno Health expand its presence in West Bengal, Odisha, Bihar, and Jharkhand, where Tablt operates. Zeno Health operates 180 omnichannel stores and a network of 200 micro-franchises, offering generic and branded prescription medicines. Tablt Pharmacy, founded in 2018, focuses on serving smaller towns in the eastern region of India and has approximately 300 franchises.

Trucking aggregator LetsTransport raises $25M led by Bertelsmann India Investments (BII)

IndianStartupNews

IndianStartupNews · 2y ago

Trucking aggregator LetsTransport raises $25M led by Bertelsmann India Investments (BII)

LetsTransport, an enterprise-level trucking aggregator, has raised $25 million in a new funding round led by Bertelsmann India Investments (BII), with participation from other undisclosed investors.

Tata Digital-backed Cult.fit raises $10 million in funding round led by Valecha Investments

Economic Times

Economic Times · 1y ago

Tata Digital-backed Cult.fit raises $10 million in funding round led by Valecha Investments

Bengaluru-based health and fitness platform Cult.fit has raised Rs 84.5 crore ($10.2 million) in a funding round led by Valecha Investments. Other investors in the round include Gul Advani of Sun-n-Sand Hotels and Extreme Brands LLP. This funding comes after the company's cost-cutting measures in January 2024 that led to employee layoffs. Cult.fit offers online and offline fitness services, including group workouts at its centers and online training. The startup had previously raised over $650 million from investors like Accel and Temasek, and was valued at over $1.5 billion after a funding round led by Zomato in 2021.

Mukesh Bansal's Cult.fit raises $10.2M led by exiting investors

IndianStartupNews

IndianStartupNews · 1y ago

Mukesh Bansal's Cult.fit raises $10.2M led by exiting investors

Indian health and fitness startup Cult.fit has raised INR 84.5 crore (approximately $10.2 million) in a funding round led by Valecha Investments. The startup, founded in 2016, is shifting towards an offline-focused model and plans to open more physical centers across India. Despite the COVID-19 pandemic, Cult.fit saw a substantial increase in operating revenue, reaching INR 694 crore in FY23. The startup also managed to narrow its losses to INR 551 crore in the same year. The funding will support Cult.fit's growth and expansion plans.

HealthifyMe raises $30 million in pre-series D round via convertible notes

Money Control

Money Control · 2y ago

HealthifyMe raises $30 million in pre-series D round via convertible notes

HealthifyMe, a health and fitness startup, has successfully raised $30 million in a pre-Series D funding round through convertible notes, according to the article. The investment will be utilized to further expand HealthifyMe's product offerings, enhance its AI-powered health coaching platform, and drive growth in international markets. The funding round was led by new and existing investors, demonstrating confidence in the company's potential.

LeapFrog-backed Healthify raises $20 mn in fresh funding

VCCircle

VCCircle · 10m ago

LeapFrog-backed Healthify raises $20 mn in fresh funding

Health and fitness platform Healthify has raised $20 million in a funding round led by Khosla Ventures and LeapFrog Investments. The funding will be used to expand globally, with a focus on entering the US market and advancing its AI capabilities. Healthify operates a mobile health and fitness app that offers personalized guidance on nutrition and wellness, serving over 40 million users across 300 cities. The company previously raised $30 million in equity and debt in June 2023, bringing its total equity raise to $125 million.

CureBay raises $21 mn to expand rural AI-driven healthcare

Inshorts · 3m ago

CureBay raises $21 mn to expand rural AI-driven healthcare

Bhubaneswar-based CureBay has secured $21 million in Series B funding led by Bertelsmann India Investments. The health-tech startup will enhance its AI-powered platform, expand eClinics, and enter underserved states like Bihar and UP. With over 150 clinics and 1,000 local health workers, CureBay aims to revolutionize rural healthcare access across India.

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