Alteria Capital has now invested INR 10 crore in the Mumbai based pharmaceutical startup Generico as a part of a $14 million that the startup had secured in the month of September 2019.
The round was led by the Lightbox. As of now, the team has secured $16 million funding. Alteria Capital has a total corpus of INR 962 crore.
Speaking of the investment, Vinod Murali, Managing Partner, Alteria Capital, said,
“Generico is on its way to build a strong network of omnichannel healthcare delivery with pharmacies as the starting point. Sid and the team at Generico have been working hard in creating a brand, which has the potential to become a surrogate for trust and efficient patient care which can then be extended to other adjacent opportunities as well.”
The startup as of now plans to increase its footprint to 150 outlets by the end of 2021 and help people manage their health better by offering continuous support and coaching and meeting their other healthcare needs as well.
Siddharth, Co-founder and CEO, said,
“Our connect with Alteria first happened six months back and as young founders, we had many concerns at that time. However, Vinod and team had very patiently helped us navigate through all the concerns and once we decided to move forward, they worked with us through the whole process and helped us close the transaction extremely fast. Being extremely transparent, supportive and committed to future growth are the kind of partners we look for and are very fortunate to find them in Alteria.”