Medikabazaar Raises $75M In a Series C Round

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Medikabazaar, a B2B healthtech startup, has raised $75 million in a Series C round headed by CDC Group, a UK-based development finance institution, and Creaegis, a private equity firm.

Existing investors such as Belgium’s Ackermans & van Haaren (AvH), HealthQuad Advisors, Japan’s Rebright Partners, Continental Europe’s Kois Holdings, and Sumitomo Mitsui Financial Group took part in the round. This is one of India’s most significant B2B healthcare transactions.

Medikabazaar, founded in 2015 by Vivek Tiwari and Ketan Malkan, now powers over 100,000 medical establishments and over 150,000 independent healthcare practitioners around the world.

To date, it has onboarded over 15,000 selling partners and delivered over 500 million medical supply units.

Commenting on the funding, Founder & CEO Vivek Tiwari said,”We are delighted to welcome Creaegis and the CDC Group on board as investors. We look forward to creating a technology-driven platform serving the healthcare ecosystem. The Series C funding has also seen our existing investors extending their trust in us as we continue on our rapid growth path in transforming the state of the health infra industry in India.

Prakash Parthasarathy, Managing Partner at Creaegis, added, “The healthcare ecosystem needs deep digital transformation to deliver efficient care and Medikabazaar has pioneered a unique digital supply chain platform to scale hospitals and clinics across the country. We look forward to building a leading next-generation company with Vivek and team and are fully committed to bringing Creaegis’ digital operating capabilities and relationships to support this journey.”