• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Tuesday, July 8, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Generico bags INR 10 crore in debt financing from Alteria Capital

by Chhavideep Singh
January 11, 2021
in Business, Startups
Reading Time: 2 mins read
0
Generico
TwitterWhatsappLinkedin
Generico
Source: Justdial

Healthcare start-up, Generico also known by the legal name of Workcell Solutions Private Limited has recently announced to raise INR 10 crore in a debt financing round from Mumbai-based Venture Debt firm, Alteria Capital.

You might also like

A New Cyberattack on LVMH, Louis Vuitton Korea Highlights Escalating Threats to Luxury Retail

A Guide for NRIs Sending Money to India Without US Remittance Tax

iPhone 17 Pro Max Set to Boast Largest iPhone Battery Yet, with a Premium Price Tag

Along with the INR 10 Crore debt, the healthcare start-up has also additionally raised INR 1 crore from Alteria Capital as a part of its Series A2 CCPS (Compulsorily Convertible Preference Shares), according to regulatory filings with the Ministry of Corporate Affairs.

Founded back in 2017 by Siddharth Gadia, an IIT Bombay alumni, Generico is one of the fastest-growing specialised pharmacy retail chains. Healthcare has always been expensive for a majority of people out there and that’s what Generico aims to solve. The company simply aims to make healthcare facilities affordable for everyone in India. According to the company profile on CrunchBase, the healthcare start-up consists of a wide range of generic medicines from some of the highly reputed pharma companies, all under one roof. When the company says that it wants to make healthcare affordable for Indians, it actually means selling these medicines at an 80% discount price.

Coming back to the funding, Generico has reportedly allotted over 1000 debentures in its Series B round at INR 1 lakh face value per debenture to Alteria Capital Fund I, according to an exclusive report by Inc42. In addition to this, the report further mentions that the company has allotted 98 CCPS under Series A2 to Alteria Capital at INR 10 per share and a premium of Rs. 1,03,040 per share. In conclusion, after all the calculations, Generico has raised somewhere close to INR 11 crore.

When asked about the latest funding, the company mentions utilising this latest infusion of money to strengthen its supply chain infrastructure, make technological advancements and improve healthcare prepositions.

As mentioned in the report by Inc42, the healthcare pharmacy chain plans to expand its operations in major cities of India such as Pune and make a presence in over 150 stores in Mumbai.

Furthermore, the COVID-19 threat has deeply impacted the economy but analysts say that the healthcare technology segment is expected to grow over four times in the post-COVID-19 scenario.

According to CrunchBase, Generico has raised total funding worth USD 15.4 million in over three financing rounds with the latest one being in a debt financing round from Alteria Capital that concluded on January 7, 2021.

Alteria Capital is a Mumbai-based Venture Capital firm that is presently investing from its Fund I which consists of a corpus of INR 962 crore. Inc42 report mentions that Alteria Capital has been actively investing in companies like LoadShare, Lendingkart, Dunzo, Spinny, Vogo, LBB, Toppr, Rebel Foods, ZestMoney, Stanza among many others.

 

 

 

 

Tags: Alteria CapitalfundingGenerico
Tweet54SendShare15
Previous Post

General Motors announces a new campaign with a brand-new logo

Next Post

WhatsApp Group invite links can be indexed via Google Search; issue fixed!

Chhavideep Singh

Hi! I'm Chhavideep, If you like reading about technology, business and start-ups, you've come to the right place. Catch me: [email protected]

Recommended For You

A New Cyberattack on LVMH, Louis Vuitton Korea Highlights Escalating Threats to Luxury Retail

by Anochie Esther
July 8, 2025
0
LVMH

LVMH Moët Hennessy Louis Vuitton SE (LVMUY), the world's leading luxury fashion conglomerate, is once again grappling with the fallout of a cyberattack. The company confirmed that its...

Read more

A Guide for NRIs Sending Money to India Without US Remittance Tax

by Anochie Esther
July 8, 2025
0
NRIs

The financial landscape for Non-Resident Indians (NRIs) in the United States is set to shift with the recent passage of a bill by the US Senate. Effective January...

Read more

iPhone 17 Pro Max Set to Boast Largest iPhone Battery Yet, with a Premium Price Tag

by Anochie Esther
July 8, 2025
0
iPhone 17 Pro Max

Apple is gearing up for one of its most significant tech unveilings of 2025, with the highly anticipated iPhone 17 lineup expected to debut in September. This year's release...

Read more
Next Post
WhatsApp

WhatsApp Group invite links can be indexed via Google Search; issue fixed!

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?