ImpactAlpha, November 19 – Inefficiency and lack of transparency in the medical supply chain are obstacles to affordable and quality healthcare in India. Mumbai-based Medikabazaar runs an online medical supplies marketplace to make healthcare necessities available in every postcode in India, especially tier two and three cities and rural areas.
The company has a catalogue of more than 85,000 products for doctors, clinics, and hospitals. Its goal is to serve 50,000 hospitals and clinics from 20 fulfillment centers by 2020.
It has raised $15.8 million in Series B funding to support its growth. Health-focused venture capital firm Health Quad re-upped its commitment from the company’s $5 million Series A round last year, alongside a host of new and return investors, including Belgian impact investing firm Kois Invest.