Ratan Tata-Backed Generic Aadhaar raises funds for low-cost generic drugs
Generic Aadhaar would use the additional funds to expand its franchisee shop count to 3000 across India. It offers generic medications through a network of franchisees. It also provides franchise owners with invoicing and inventory management tools. Beyond Next Ventures, a Japanese venture capital firm, has made an undisclosed investment in Generic Aadhaar's current Pre-Series A financing round. After this round, the startup's post-money valuation is INR 500 Cr. The new funds would be used to increase the number of franchisee stores in India to 3000. The business will also expand its product offerings and invest in its digitalization plan. According to the firm, it has diluted approximately 10% of its stock in the latest funding round.This cash, which we want to deploy over the next eight months, will allow us to develop quicker and have a greater effect by addressing the paucity of medications in urban, Tier 2 and Tier 3 areas across India. Following an overwhel...