In a significant development, Zeno Health, an innovative omnichannel pharmacy platform, has successfully raised $25 million in its Series C funding round. The funding was led by prominent South Korean private equity firm STIC Investments, with substantial participation from existing investor Lightbox Ventures.

Zeno Health, formerly known as Generico, was founded in 2017 by Siddharth Gadia and Girish Agarwal, alumni of IIT Bombay. The company specializes in offering a wide range of generic medicines through its omnichannel approach, catering to both prescription and non-prescription needs for chronic and recurring diseases.

The infusion of capital marks a significant milestone in Zeno Health’s mission to revolutionize healthcare accessibility across India. The funding will be strategically utilized to scale up growth, expand the company’s footprint, and enhance its technological infrastructure. Additionally, Zeno Health plans to allocate resources towards branding exercises and developing innovative solutions for diverse markets.

Commenting on the successful fundraising, Siddharth Gadia, Co-founder and CEO of Zeno Health, expressed his enthusiasm, stating, “We are thrilled to welcome STIC as a key partner in our journey. Their investment, coupled with the continued commitment from Lightbox, signifies a resounding endorsement of our mission to make quality healthcare affordable to all.”

Derrick (Kihyun) Yun, Managing Director of STIC, echoed Gadia’s sentiments, emphasizing Zeno Health’s remarkable commitment to reshaping the healthcare landscape in India. He expressed STIC’s eagerness to contribute to Zeno Health’s journey towards making quality healthcare accessible across the nation.

With this latest funding round, Zeno Health has now raised over $56 million in equity and debt across multiple rounds. The company’s valuation soared to more than $90.6 million in March 2022, underscoring its rapid growth and potential in the healthcare sector.

Operating a network of 180 omnichannel stores and 200 micro-franchises, Zeno Health boasts a dedicated team of over 530 pharmacists. The company has served over 25 lakh consumers to date, with ambitious plans to reach 1 crore consumers monthly in the near future.

Despite challenges posed by regulatory uncertainties in the online pharmacy space, Zeno Health remains focused on leveraging technology to provide accessible and affordable healthcare solutions. The Indian online pharmacy market continues to be an attractive proposition, with projections indicating significant growth potential in the coming years.

As Zeno Health continues to innovate and expand its presence, it reaffirms its commitment to revolutionizing healthcare accessibility and making a positive impact on communities across India.

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