Pharmacy Startup Zeno Health Secures USD 25 Mn in Series C Led by STIC Investments The Mumbai-based startup aims to use the funding to expand its consumer base and footprint, and enhance its technological infrastructure.
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Healthtech startup Zeno Health announced the successful closure of its USD 25 million Series C funding round. The round was led by Korean private equity investor STIC Investments. Existing investor Lightbox has also participated in the round.
The raised funding will be used by Zeno Health to expand its consumer base and footprint, and enhance its technological infrastructure.
The startup had previously raised USD 12.1 million as part of an extended Series A round led by Lightbox, Toy Ventures, Whiteboard Capital, Singularity Ventures and others.
Siddharth Gadia, CEO and Co-founder of Zeno Health, said, "The investment, coupled with the continued commitment from Lightbox, signifies are sounding endorsement of our mission to make quality healthcare affordable to all. The company remains steadfast in its mission to reach and serve one crore consumer smoothly, aspiring to reduce their health care expenditure by 50 percent."
Founded in 2017 by IIT Bombay alumni Siddharth Gadia and Girish Agarwal, ZenoHealth offers medicines with guaranteed savings.
Formerly known as Generico, Zeno Health claims to operate 180 omnichannel stores and a network of 200 micro-franchises. It has a team of more than 530 pharmacists to help with prescription medicines for chronic and recurring diseases, as well as non-prescription goods for general health, well-being and personal care. So far, the startup has served 25 lakh consumers.
Derrick (Kihyun) Yun, managing director of STIC, said, "Zeno Health has demonstrated a remarkable commitment to reshaping the healthcare landscape in India. Their vision aligns with our values and we look forward to contributing to their journey towards making quality health care accessible across India."
