Exclusive: Medikabazaar raises around $60 Mn led by CDC Group
Summary
Mitsui Sumitomo Insurance Venture Capital, KOIS Holdings, Ackermans & van Haaren, Rebright Partners and individuals including Arun Venkatchalam and Sunil Kalra have pumped in the remaining amount. Founded by Vivek Tiwari and Ketan Malkan in 2014, Medikabazaar’s platform enables hospitals and medical establishments to discover supplies, compare specifications and prices in real-time. The product on the B2B platform includes hospital devices, materials, medical consumables, dental tools among others. According to Fintrackr’s estimates, PharmEasy had valued Aknamed at an enterprise valuation of Rs 1,060 crore or $144 million. While Medikabazaar is yet to file its annual financial report for the last two fiscal years, it claimed to have achieved an annualised GMV of around $100 million (over Rs 750 crore) in FY20 and had a target of $200 million (Rs 1,500 crore) for FY21.