VC Fund Investments
Affordable medicines retailer Generic Aadhaar raises funding from Beyond Next Ventures
Mumbai-based Generic Aadhaar has raised seed funding in return for a 10% stake from Japanese venture capital firm Beyond Next Ventures, at a valuation of INR 500 crore. Generic Aadhaar, founded by 19-year old Arjun Deshpande, sells generic medicines through franchisee stores, which are claimed to be up to 80% cheaper compared to market prices. It had attracted angel funding from Ratan Tata (in May 2020). The company will use the fresh capital to expand its pan-India franchisee stores from 1,500 to 3,000, invest on digitization and widen medicine product offerings.
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