Hotline: 1800 102 2007
Hotline: 1800 102 2007
Sep, 20 2019

Indian pharmacy chain Generico raises funds to set up 150 stores

Currently, the firm has about 40 pharmacy stores in Mumbai from where it sells medicines.

Indian pharmacy chain Generico raises funds to set up 150 stores

Indian pharmacy chain Generico has secured a Series-B round of funding led by venture capital firm Lightbox Ventures. The company runs a network of offline pharmacies selling generic drugs exclusively.

The Series-B funding round has also seen participation from its existing investors, Tomorrow Capital and Whiteboard Capital

Generico was founded by Siddharth Gadia and Girish Agarwal in 2017. Currently, the firm has about 40 pharmacy stores in Mumbai from where it sells medicines. Apart from being a retailer, Generico is aiming to offer health awareness camps, self-help groups, and counselling to patients.

The fresh capital will be used by the pharmacy chain to build up to 150 stores in the next two years. Generico will also utilize the funds to boost its capabilities in supply chain management and data science, while catering to middle-income families in urban areas.

Sandeep Murthy, Managing Partner of Lightbox, said, “Today, a pharmacy has become more of a dispensary. The crux of the problem is how do you manage chronic diseases, and manage health in a way that you address it proactively, not only when you are sick.”

“Generico wants to use the trust you have with patients by selling medicines and help them manage overall health. It wants to build out services and plug-in yoga classes, meditation, walking groups, etc, and wants to be resource patients can engage with,” he added.

Want to invest in a pharmacy franchise? Visit Franchise India 2019, Asia’s Biggest Franchise & Retail Show, and give wings to your entrepreneurial dreams.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Tea And Coffee Chain
    About: Zealong’s latest endeavour a Quick Service Restaurant, Chai Central! Chai..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New Delhi Haryana
  • Others Health Care & Fitness
    About Us: SmartSewa, established in 2016, works in preventive/primary healthcare space,..
    Locations looking for expansion Haryana
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 100
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Education Supplies
    About Us: Altair Digital Company has more than 10 years of..
    Locations looking for expansion sss
    Establishment year 2010
    Franchising Launch Date 2017
    Investment size
    Space required 00
    Franchise Outlets -NA-
    Franchise Type MultiUnit
    Headquater Novosibirsk sss
  • Management Software
    About Us: GCR is Global Channel Resources, bridging the gaps between..
    Locations looking for expansion Haryana
    Establishment year 2015
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities