Medik­abazaar re­ceives $5M in se­ries A

BioSpectrum (Asia) - - START-UP NEWS -

In­dian on­line ag­gre­ga­tor for med­i­cal equip­ment and med­i­cal sup­plies, Medik­abazaar has raised $5 mil­lion in Se­ries A round of fund­ing led by health­care-fo­cused ven­ture cap­i­tal fund HealthQuad. With this new fund­ing, the startup is look­ing to strengthen its tech­nol­ogy and in­crease the team size in­clud­ing se­nior lead­er­ship. The funds will also be used to stream­line its sup­ply chain and lo­gis­tics ca­pa­bil­ity to reach 50K hos­pi­tals and clin­ics by the end of next fi­nan­cial year. The startup is also look­ing to ex­pand its ful­fill­ment cen­tres from the ex­ist­ing seven to more than 20 across In­dia in­clud­ing the Tier 2 and Tier 3 lo­ca­tions.

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