Generic drugs retail chain Medkart raises Rs.40-Cr from Alkemi, Insitor Partners, others

Ahmedabad-based Medkart, which operates a pharmacy retail chain of generic medicines, has raised INR 40 crore in Series A round from Alkemi Growth Capital and Insitor Partners, with participation from angel investors including Prashant Poddar and other professionals from the UAE and ex-CEO of IIFL Asset management. Mumbai-based Radix Capital Advisors acted as an exclusive financial advisor for Medkart. Medkart, founded by Ankur Agarwal and Parsharan Chari, is an omnichannel pharmacy that aims to help people lower their medical bills through access to quality generic medicines at affordable rates.