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Healthtech platform Medikabazaar raises $75 million from Creagis, CDC Group

The current investment will be utilized to strengthen Medikabazaar’s digital capabilities, deepen the supply ecosystem, technology driven distribution channels and bolster capacity to provide a wider range of leading-edge quality medical supplies across diverse geographical regions.

September 24, 2021 / 07:20 AM IST

Healthtech platform, Medikabazaar, on September 24 announced that it has raised $75 million as a part of its Series C investment led by Creagis, along with CDC Group, UK’s development finance institution.

The round also saw participation from existing investors including Belgium-based Ackermans & van Haaren (AvH), HealthQuad Advisors Private Limited, Japan-based Rebright Partners, Kois Holdings, and Sumitomo Mitsui Financial Group.

The current investment will be utilized to strengthen Medikabazaar’s digital capabilities, deepen the supply ecosystem, technology-driven distribution channels and bolster capacity to provide a wider range of leading-edge quality medical supplies across diverse geographical regions.

The funding will also help Medikabazaar to augment its international operations especially across the Middle East, North Africa, and Southeast Asian markets.

"We are delighted to welcome CREAEGIS and the CDC Group on board as investors. We are impressed by the digital transformation track record of Creaegis and look forward to creating a technology-driven platform serving the healthcare ecosystem. The funds raised will enable us to enhance our international operations and deepen our presence in the Indian B2B health tech industry," said Vivek Tiwari, Founder and Chief Executive Officer of Medikabazaar.

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“With over 100,000 medical establishments, over 150,000 independent medical professionals, and more than 15,000 seller partners already on board, we are aiming for a 300 percent growth through FY22," added Tiwari.

Founded in 2015 by Vivek Tiwari and Ketan Malkan, the company has been growing exponentially and emerged as a prominent digital health tech platform in India's medical procurement and supply chain industry.
Viswanath Pilla is a business journalist with 14 years of reporting experience. Based in Mumbai, Pilla covers pharma, healthcare and infrastructure sectors for Moneycontrol.

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