Freecharge founder’s VC fund, others invest in pharmacy retail chain Generico
Summary
Whiteboard Capital was launched by Sandeep Tandon and Kunal Shah, co-founders of digital payments firm Freecharge. Early-stage strategic investment fund Tomorrow Capital and angel investor Gagan Goyal also contributed to the round, The Economic Times reported citing Generico founders Siddharth Gadia and Girish Agarwal. Meanwhile, the online pharmacy segment has been gaining traction of late following significant venture capital and private equity investments in a clutch of companies such as NetMeds, 1mg, Pharmeasy and LifCare despite regulatory uncertainty. Whiteboard Capital’s investments include Mumbai-based content company Pocket Aces, education portal Geniusteacher.in, lending platform Ziploan, fashion e-tailer Fashalot, payment gateway Razorpay, business-to-business (B2B) pharmacy app Reap, and wedding venue marketplace Weddingz.in, among others. Tomorrow Capital is a $100 million early-stage strategic investment fund focussed on helping early-stage businesses in India and consumer brands in particular, according to its website.