Zeno Health Secures $25 Million in Series C Funding to Accelerate Healthcare Expansion

• ByStartupStory     |    February 28, 2024

Mumbai-based healthtech startup Zeno Health announced the successful completion of its Series C funding round, raising an impressive $25 million. The funding was led by Korean private equity investor STIC Investments, with substantial participation from existing investor Lightbox.

Zeno Health, established in 2017 by IIT Bombay alumni Siddharth Gadia and Girish Agarwal, has rapidly evolved into a prominent player in the healthcare sector. The startup, currently operating 180 omnichannel stores and a network of 200 micro-franchises, plans to utilize the newly acquired funds to broaden its consumer outreach, expand its geographical footprint, and bolster its technological infrastructure.

“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,” stated Siddharth Gadia, CEO and Co-founder of Zeno Health.

The Series C funding round reflects Zeno Health’s commitment to reshaping India’s healthcare landscape, as highlighted by Derrick (Kihyun) Yun, Managing Director at STIC Investments. He remarked, “Zeno Health has demonstrated a remarkable commitment to reshaping the healthcare landscape in India.”

Zeno Health has already served an impressive 25 lakh consumers, providing them with savings exceeding Rs 700 crore in its impactful six-year journey. Sandeep Murthy, Founder and Managing Director of Lightbox, expressed satisfaction with the company’s progress, stating, “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.”

Follow Startup Story