Pharmacy retail chain Generico, operated by Workcell Solutions Pvt Ltd, has secured about $1.4 million in Series A funding from venture debt fund Alteria Capital.
The latest financing comes a little more than three months after Generico reportedly raised $14 million led by Lightbox. It previously raised $3 million from Tomorrow Capital, Whiteboard Capital and angel investor Gagan Goyal.
Founded by Siddharth Gadia and Girish Agarwal in 2017, Generico will use the fresh funds to strengthen its supply chain, technology, and healthcare prepositions. The pharmacy chain plans to expand its outlets from the current 49 stores in Mumbai to 150 stores by 2021.
INDIA DEAL MONITOR
Here are some of the venture capital transactions in India from January 5-January 7.
