NEW DELHI: Medikabazaar , a B2B online marketplace for medical equipment and supplies, has got Rs 112 crore in its latest funding round, led by a clutch of new and existing investors.Healthcare-centric VC firm HealthQuad , Belgium-based diversified group Ackermans & van Haaren, early-stage investment firm Rebright Partners and Japan’s Toppan Printing Co led the fundraise. The startup will use the proceeds to build on its technology suite, supply chain infrastructure and for augmenting its team, as per a senior executive at Medikabazaar.“We are aiming to secure 10% of the organised market share by 2025, and will continue to channel our efforts towards this goal, with a focus on smaller cities and remote areas,” said Vivek Tiwari , CEO, Medikabazaar.MedikaBazaar’s existing set of backers, which includes CBC Co, Elan Corporation, Mitsui Sumitomo Insurance Venture Capital, Kois Invest from Belgium, also participated in the latest round, along with a group of angel investors such as Sunil Kalra and Arun Venkatachalam.The firm raised $5 million in its Series A in October last year and followed that up with an undisclosed sum from a number of notable senior corporate executives such Bain & Co’s Arpan Sheth and Karan Singh.

Source: Economic Times November 18, 2019 00:00 UTC