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B2B medical supply platform Medikabazaar raises $65-M led by Lighthouse

Economic Times  

Medikabazaar, a Mumbai-based business-to-business (B2B) medical supply platform, has raised USD 65 million in a new funding round led by Lighthouse Funds, valuing the firm at USD 700 million. Lighthouse has brought in USD 30 million, with the rest coming from existing investors such as Creaegis, Health Quad, Ackermans & van Haaren, British International Investment (formerly CDC) and KOIS Holdings. The company will use the funds to strengthen its technological capabilities, deepen the supply ecosystem and digital-driven distribution channels, bolster digital operating capabilities and expand its global operations. Founded in 2015, Medikabazaar is a digital health-tech platform for the medical supply needs of hospitals, nursing homes and clinics, and other medical institutions with categories like medical consumables, devices, equipment, and pharmaceuticals. The company claims to cover over 20,000 pin codes across India. In September 2021, the company raised USD 75 million in its Series C round led by Creaegis, along with CDC Group.