Investing in Generic Aadhaar
We are pleased to announce that we have invested in Generic Aadhaar in India as a lead investor.
Generic Aadhaar was founded by Arjun at the tender age of 16, and they are evolving the pharma industry by partnering directly with the manufacturers and providing good quality medicines at affordable costs to consumers via their franchise stores.
Generic Aadhar was using a Japanese video-tech AI Platform, GoToPitch to raise funds and caught eyes of some of the prominent Indian and Japanese VCs Started approaching GoToPitch for the investment in Generic Aadhar and the round got oversubscribed.
The investment philosophy and thesis of Beyond Next Ventures are completely in line with Generic Aadhar, So we decided to take the deal forward.
Commenting on the development Arjun Deshpande, Founder & CEO, Generic Aadhaar, says, “My goal remains to build Generic Aadhaar as an organisation focused on creating an impact on the Indian healthcare ecosystem by making medicines affordable to our country’s 130 crore people. As we are not a cash burning entity but a profitable venture, we decided to raise this round, and received a huge response from the VC community. I am elated that Mr. Tsuyoshi Ito and his team at Beyond Next Ventures has partnered to invest in us and bring my vision to reality. This fund, which we look to complete deployment within the next 8 month will help us grow faster and create a wider impact by aiming to solve the scarcity of medicines in urban, Tier 2 and Tier 3 cities across India. Having received an astounding response from our customers across the country, we aim to do a Series A round in the next 8-12 months.”
Commenting on the funding Tsuyoshi Ito, CEO of Beyond Next Ventures, says, “We at Beyond Next Ventures, are very excited to join Generic Aadhaar as an investor. The company led by the dynamic young founder Arjun Deshpande has created an innovative business model to revolutionise pharmaceutical industry in India. The fact that he is backed by Mr. Ratan Tata speaks volumes for the trust and potential of the founder and the venture. The investment in Generic Aadhaar is in line with our philosophy of helping disruptive and growth sectors in India.”
Mayur Shah head of India Business added that “India is at the cusp of a healthcare revolution and affordability of medicines is the most important right step for the future. While providing medicines of high quality at an affordable rate to benefit consumers, Generic Aadhar is also helping stand-alone community focussed medical stores, also thrive. We are looking forward to supporting Generic Aadhaar in their journey of providing affordable medicines and nurturing micro-entrepreneurs.”
Click here for Generic Aadhaar Website: https://genericaadhaar.com/