Ratan Tata-Backed Pharma Startup Generic Aadhaar Bags Funding To Offer Low-Cost Generic Medicines
Summary
It also offers billing and inventory management software to franchise ownersPharmaceutical startup Generic Aadhaar has secured an undisclosed investment in its ongoing Pre-Series A funding round from Japanese VC company Beyond Next Ventures. Following this round, the startups post-money valuation stands at INR 500 Cr.Generic Aadhaar will use the fresh capital to grow its franchisee store count to 3000 across India. The startup will also invest in its digitisation strategy and grow product offerings.As per the startup, it has diluted nearly 10% stake in the current fundraising round.This fund, which we look to complete deployment within the next eight months, will help us grow faster and create a wider impact by aiming to solve the scarcity of medicines in urban, Tier 2 and Tier 3 cities across India. It also offers billing and inventory management software to franchise owners.At the age of sixteen years, Deshpande started Generic Aadhaar to sell generic medicines that are up to 80% cheaper than branded medicines in the market. During that time frame, it claimed to be managing more than 1.5K franchise retail stores in over 150 Indian cities.