Healthtech platform Zeno Health raises $25 million in Series C funding round
Mumbai, Feb 27 (IANS) – Zeno Health, a healthcare startup based in Mumbai, announced on Tuesday that it has successfully raised $25 million in its Series C funding round. The funding was led by Korean private equity investor STIC Investments, with existing investor Lightbox also participating significantly in the round.
According to Zeno Health, the funds raised will be utilized to reach more consumers, expand its footprint, and further enhance its technological infrastructure. CEO and Co-founder Siddharth Gadia stated, “The company remains steadfast in its mission to reach and serve 1 crore consumers monthly, aspiring to reduce the healthcare expenditure by 50 per cent.”
Founded in 2017 by IIT Bombay alumni Gadia and Girish Agarwal, Zeno Health operates 180 omnichannel stores and a network of 200 micro-franchises. Managing Director of STIC Investments, Derrick (Kihyun) Yun, praised Zeno Health for its dedication to reshaping the healthcare landscape in India.
Zeno Health has already served 25 lakh consumers, providing them with savings of more than Rs 700 crore in its short six-year journey. Sandeep Murthy, Founder and Managing Director of Lightbox, commented, “In the five years since we invested in Zeno, the company has created the country’s largest omnichannel pharmacy platform for quality and affordable generic medicines.”
The success of Zeno Health in securing funding highlights the growing importance of healthtech platforms in the healthcare industry. The company’s innovative approach to delivering healthcare solutions has resonated with investors and consumers alike, positioning it as a key player in the sector.
