VC Fund Investments
Healthtech co. GenWorks raises $5-M led by Evolvence
Bengaluru-based Genworks? Health Pvt Ltd has raised INR 41 crore (about USD 5 million) in a funding round led by Evolvence India Fund. Somerset Indus Healthcare Fund and Kasiraman Swaminathan also participated in the funding round.The company is to issue 5,12,500 CCPS (compulsory convertible preference shares) at INR 800 each.Evolvence Fund and Somerset Indus Healthcare Fund have put in INR 24.6 crore and INR 8.2 crore respectively, while Kasiraman Swaminathan and Ramesh Kumar Sivaraman have invested INR 6.1 crore and INR 2 crore.GenWorks aims to create a platform for solving the three challenges in healthcare: access, affordability, and adoption.
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