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Medikabazaar seeks to raise $29 Million

Medikabazaar, a business to a business online marketplace for the medical supplies is now going to raise around INR 200 crore from the Venture Capital firms in the funding of Series B.

The Mumbai based company revealed in a statement that its existing investors which will be going to participate in the funding round. These even include the Delhi based VC fund, HealthQuad, Mitsui Sumitomo Insurance Firm arm, Japan Rebright partners and Belgium Based Koist Invest.

The startup as of now has a plan to use the funds to expand its fulfillment centers, make last mile delivery most efficient and effective, strengthen n its technology. It also has plans to use the funds to enter the small towns and cities as well as the potential acquisitions.

Medikabazaar, owns and operated by the Boston Ivy Healthcare Solutions Pvt Ltd was started in the month of April 2015 by the Ketan a Tiwari Malkan. Its B2B e-commerce marketplace lets the customers buy the medical devices and hospital supplies directly.

Source: Medikabazaar



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