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Thyrocare founder wants to invest 'minimum Rs 100 crore' in goat farming business

Realising that the idea may take many by surprise, Thyrocare founder Dr Arokiaswamy Velumani revealed that goat farming was his first failure in life and he was only 10.

August 28, 2022 / 06:19 PM IST
This, however, isn't the first time that the Thyrocare founder Arokiaswamy Velumani showed an interest in goats. (Image credit: @velumania/Twitter)

This, however, isn't the first time that the Thyrocare founder Arokiaswamy Velumani showed an interest in goats. (Image credit: @velumania/Twitter)


Thyrocare founder Dr Arokiaswamy Velumani on Sunday tweeted that he was looking forward to investing a minimum of Rs 100 crore in goat farming business. Realising that the idea may take many by surprise, he revealed that goat farming was his first failure in life and he was only 10.

The scientist also invited proposals, requests and suggestions from interested parties.

This, however, isn't the first time that the Thyrocare founder had shown interest in goats.

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Meanwhile several Twitter users congratulated him for considering a new venture, journalist Sucheta Dalal shared with him an article on how artisanal cheese making goat-rearing nomadic community in Gujarat and  Arokiaswamy Velumani thanked her for it.

Velumani had started Thyrocare in 1996 and while speaking with YourStory, he revealed that taking entrepreneurship was one of the longest decisions of his life -- it took him four hours to decide. In comparison, taking Thyrocare public in 2016 was a 30-minute decision, and closing a Rs Rs 4,546 crore deal with PharmEasy took him one minute. The healthtech unicorn had acquired 66.1 per cent stake in Thyrocare.

Read more: Emotional Dr Velumani says he “moved fast for a change” as he sold Thyrocare to PharmEasy

“If you discuss then you can't decide, and if you decide there is no need to discuss," he told the publication.

Born to a poor farmer family in 1959 in a village on the outskirts of Coimbatore, Tamil Nadu, Velumani was the eldest of four children. He was, however, determined to improve his fortune. He complete his education and got a job first with a pharmaceutical company in Coimbatore and then with Bhabha Atomic Research Centre (BARC) in Mumbai.

Then, with an initial investment of Rs 1 lakh, Velumani and his wife set up the first Thyrocare lab in Byculla, Mumbai. Cut to 2020, Thyrocare posted revenues of Rs 474 crore, up by 18 per cent, reported Indiatimes, while profits grew by 51 percent to Rs 119.7 crore.

Read more: Thyrocare boss recalls how he was asked to compare himself to fallen Silicon Valley star Elizabeth Holmes
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first published: Aug 28, 2022 06:12 pm
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