Gujarat headquartered MedKart raises Rs. 40 crore

Ahmedabad: Ahmedabad headquartered Medkart, a chain of generic medicines has raised Rs 40 crores co-led by Alkemi Venture Partners and Insitor Partners, said the company in a statement.

Medkart raised Rs 40 crores in its Series A round co-led by Alkemi Growth Capital and Insitor Partners with participation from angel investors including Prashant Poddar and other professionals from UAE and ex-CEO of IIFL Asset management, as informed in the press-release. Co-founder of Medkart Parasharan Chari said that the funding will help them continue to strengthen infrastructure necessary to provide a seamless omni-channel experience to their customers.

The statement claimed that Medkart has reduced medical costs by as much as 85% and has saved more than Rs 200 crores for its customers and now has a loyal base of more than 600,000 chronically ill patients. There are 76 stores across all of India to date, stated the statement. DeshGujarat