Total amount raised
$40.4 Millions
Latest funding date
2/1/2024
Location
Zeno Health has successfully raised funds through multiple rounds, with its latest being a Series C on February 27, 2024. The company focuses on providing accessible and affordable healthcare through its generic medicine pharmacy services.
Keep reading to explore the intricacies of Zeno Health's fundraising journey and the investors backing this innovative platform.
What Is Zeno Health?
Zeno Health, founded in 2017 by Girish Agarwal and Siddharth Gadia, is headquartered in Mumbai, Maharashtra, India. The company focuses on providing WHO-GMP-certified generic medicines to make healthcare more accessible and affordable.
With a workforce of 501-1000 employees, Zeno Health offers a wide range of medicines through both physical stores and an online platform. Their exclusive line, GoodAid, is designed to help households save on medical expenses.
By prioritizing affordability and accessibility, Zeno Health aims to revolutionize the pharmacy industry in India.
How Much Funding Has Zeno Health Raised?
- Series A
- Amount Raised: $14M
- Date: September 2019
- Lead Investors: Lightbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their pharmacy network and enhance their product offerings.
- Series A (Extended)
- Amount Raised: ₹3M
- Date: December 2018
- Lead Investors: Tomorrow Capital, Whiteboard Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's mission to make quality healthcare affordable.
- Debt Financing
- Amount Raised: ₹100M
- Date: January 2020
- Lead Investors: Alteria Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale their business and meet growing demand.
- Series C
- Amount Raised: $25M
- Date: February 2024
- Lead Investors: STIC Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their footprint and improve technological infrastructure.
Total Amount Raised: $39M
Current Valuation: Not publicly disclosed
Key Investors
- STIC Investment
- Details: STIC Investment is a South Korean private equity and venture capital firm. They focus on investing in high-growth companies across various sectors.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: Kakao, Yanolja, Big Hit Entertainment
- Alteria Capital
- Details: Alteria Capital is an India-based venture debt fund that provides financing solutions to high-growth startups. They focus on supporting companies with strong business models and growth potential.
- Investment Focus Areas: Technology, Consumer Services, Healthcare
- Notable Investments: Dunzo, Lendingkart, ZestMoney
- Lightbox
- Details: Lightbox is a venture capital firm based in India that invests in early-stage and growth-stage companies. They focus on building long-term partnerships with entrepreneurs to help scale their businesses.
- Investment Focus Areas: Consumer Technology, E-commerce, Healthcare
- Notable Investments: Rebel Foods, Furlenco, Melorra
- Tomorrow Capital
- Details: Tomorrow Capital is an early-stage strategic investment firm in India. They focus on providing growth capital and strategic support to startups in their early stages.
- Investment Focus Areas: Consumer Goods, Technology, Healthcare
- Notable Investments: Bonito Designs, Nua, Multibhashi
- Whiteboard Capital
- Details: Whiteboard Capital is an early-stage venture capital firm based in India. They focus on investing in startups with innovative business models and strong growth potential.
- Investment Focus Areas: Technology, Consumer Services, Healthcare
- Notable Investments: Dunzo, Fynd, Innov8
What's Next for Zeno Health?
With the recent $25 million Series C funding, Zeno Health is poised to expand its footprint and enhance its technological infrastructure. The company aims to serve a larger consumer base, potentially reaching 10 million consumers monthly, and significantly reduce healthcare costs for its users. This growth is fueled by the increasing demand for affordable generic medicines and the rising trend of online pharmacy services.
Future fundraising opportunities seem promising, as the successful Series C round indicates strong investor confidence. Zeno Health may pursue additional funding rounds to support its ambitious expansion plans and technological advancements. However, the company will need to navigate regulatory challenges and intense competition in the generic drug market to maintain its growth trajectory.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Zeno Health and gather other critical business insights. Sign up for free today and elevate your sales strategy with the power of detailed, actionable information.
