Total amount raised
$187 Million
Latest funding date
4/1/2022
Location
Medikabazaar has successfully raised funds over 9 rounds, with the latest being a Series D round. The company is backed by 16 investors, including recent investors HealthQuad and Lighthouse Funds.
Keep reading to explore the intricacies of Medikabazaar's fundraising journey and the investors backing this innovative platform.
What Is Medikabazaar?
Medikabazaar, founded in Mumbai, Maharashtra, India, operates as an online B2B marketplace for medical supplies and equipment. The company, which falls under the B2B, Health Care, Marketplace, and Medical Device industries, has an employee count ranging from 501 to 1000.
Medikabazaar aims to redefine the medical procurement experience by offering a comprehensive range of products across various medical fields, including dental, diagnostics, and ophthalmology. The platform also provides significant discounts, bulk purchase options, and features products from top brands.
How Much Funding Has Medikabazaar Raised?
- Seed Round
- Amount Raised: $67,000
- Date: April 2017
- Lead Investors: Rebright Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Angel Round
- Amount Raised: $17,000
- Date: September 2017
- Lead Investors: Ikuto Higashi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Series A
- Amount Raised: $5,000,000
- Date: October 2018
- Lead Investors: HealthQuad
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B
- Amount Raised: $27,000,000
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings and improve supply chain logistics.
- Series B
- Amount Raised: $15,000,000
- Date: November 2019
- Lead Investors: Ackermans & van Haaren, HealthQuad, Toppan Printing
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand market presence.
- Series B
- Amount Raised: $3,500,000
- Date: June 2020
- Lead Investors: Ackermans & van Haaren
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and operational expansion.
- Debt Financing
- Amount Raised: $10,000,000
- Date: August 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve cash flow and support ongoing projects.
- Series C
- Amount Raised: $58,000,000
- Date: September 2021
- Lead Investors: British International Investment
- Valuation at Round: $235,000,000
- Motivation Behind the Round: To scale operations and expand into new markets.
- Series D
- Amount Raised: $65,000,000
- Date: April 2022
- Lead Investors: Lighthouse Funds
- Valuation at Round: $700,000,000
- Motivation Behind the Round: To enhance technological capabilities, deepen the supply ecosystem, and expand global operations.
Total Amount Raised: $183,584,000. Current Valuation: $700,000,000.
Key Investors
- Lighthouse India Fund
- Details: Lighthouse India Fund is a growth capital investment firm focused on high-growth companies in India. They led the Series D funding round for Medikabazaar with a $30 million investment.
- Investment Focus Areas: High-growth companies, consumer products, healthcare.
- Notable Investments: Nykaa, Bikaji Foods, Duroflex.
- HealthQuad
- Details: HealthQuad is a healthcare-focused investment firm that aims to support innovative healthcare companies. They have been involved in multiple funding rounds for Medikabazaar.
- Investment Focus Areas: Healthcare, healthtech, medical devices.
- Notable Investments: Not publicly disclosed.
- Ackermans & van Haaren
- Details: Ackermans & van Haaren is a diversified investment company with interests in various sectors. They have participated in several funding rounds for Medikabazaar.
- Investment Focus Areas: Diversified investments, infrastructure, healthcare.
- Notable Investments: Not publicly disclosed.
- British International Investment (formerly CDC)
- Details: British International Investment is a development finance institution focusing on investments that support sustainable development in emerging markets. They have been a consistent investor in Medikabazaar.
- Investment Focus Areas: Sustainable development, emerging markets, healthcare.
- Notable Investments: Not publicly disclosed.
- KOIS Holdings
- Details: KOIS Holdings is an impact investment firm that focuses on funding businesses with a social impact. They have participated in multiple funding rounds for Medikabazaar.
- Investment Focus Areas: Impact investing, healthcare, social enterprises.
- Notable Investments: Not publicly disclosed.
What's Next for Medikabazaar?
Medikabazaar stands at the cusp of significant growth opportunities. With the Indian medical device market projected to reach $50 billion by 2025, the company is poised to strengthen its technological capabilities and deepen its supply ecosystem. Expanding into international markets, particularly in the MENA region, offers a vast landscape for growth.
Future fundraising rounds seem likely as Medikabazaar aims to achieve a unicorn valuation. The company’s robust sales growth and plans for acquisitions underscore the potential for additional investments to support its ambitious expansion strategies.
However, challenges remain. Navigating the fragmented medical distribution industry and maintaining operational efficiency while scaling globally will be critical. Ensuring sustainable growth amidst increasing competition will test Medikabazaar's resilience and strategic planning.
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