April 11, 2022

Lighthouse leads USD 65 million round in Medikabazaar, India’s largest B2B medical supply chain platform

Lighthouse India Fund III, Limited has led a new round of USD 65 million in Medikabazaar, India’s leading B2B medical supply chain platform.

Lighthouse has invested INR 225 crores (USD 30 million) in Medikabazaar along with participation from existing investors Creaegis, Health Quad, Ackermans & van Haaren, British International Investment (formerly CDC), and KOIS Holdings.

Medikabazaar is the fourth investment by Lighthouse in the healthcare space. It has previously invested in Suraksha Diagnostic, a leading diagnostic services chain in East India, Poly Medicure, one of India’s leading medical devices companies, and Tynor Orthotics, India’s largest orthopedic appliances and fracture aids brand.

Medikabazaar is India’s pioneering and largest online B2B Healthcare platform for medical supplies. Founded in 2015, the company has been growing exponentially and is now clearly the most prominent digital health tech platform for medical supply needs of hospitals, nursing homes and clinics, and other medical institutions with categories like medical consumables, devices, equipment, and pharmaceuticals. The Company has made deep inroads into smaller cities covering over 20,000 pin codes in India with an aim to address all inefficiencies that plague the supply chain for medical supplies. Fuelled by the growing demand from healthcare delivery providers and partnerships with domestic and international medical device and consumable brands, Medikabazaar has grown its sales at a magnitude of 25x over the last three years. It aims to be the one-stop procurement solution for healthcare providers, big and small. The Company has raised growth capital to scale up its existing product verticals and infrastructure with a technology interface and pursue domestic and international acquisition opportunities.

“We are delighted to have marquee investors like Lighthouse on board and show their faith in us as we continue on our rapid growth path in transforming the healthcare sector in India. We continue to invest heavily in our tech capabilities and operations to further improve our goal of making healthcare available, accessible, and affordable in India and replicating our success in international markets. The funding will enable us to expand and deepen our presence in the Indian B2B health tech industry and help power our global ambitions,” shared Mr. Vivek Tiwari, Founder & CEO at Medikabazaar.

“The highly fragmented and inefficient medical distribution industry gives Medikabazaar fertile conditions for growth and scale. Medikabazaar has proven to offer sustainable solutions to OEM and healthcare delivery partners, and we believe the Company will continue to maintain its pole position in the industry. The Company has achieved scale in a capital-efficient manner which adds to its strength,” shared Rochelle Dsouza, Managing Director at Lighthouse Advisors.

Lighthouse is a leading mid-market private equity firm focused on growth investments in India. Lighthouse has over half a billion dollars of assets under management and has invested in over 25 companies across consumer brands, digital transformation, healthcare, and specialty manufacturing. Lighthouse’s marquee investments include leading Indian brands like Bikaji Foods, Nykaa, Duroflex Mattresses, Fabindia, Ferns N Petals, Cera Sanitaryware, Dhanuka Agritech, Kama Ayurveda, Poly Medicure, Shaily Engineering, Tynor Orthotics, Unibic Foods, Wow! Momo, among others.

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