Sunday, April 9, 2017

Medwell raised Rs 136 crore from Mahindra Partners and others

Healthcare venture Medwell Ventures has raised Rs 136 crore from Mahindra Partners, Eight Roads Ventures and US-based F-Prime Capital Partners and others.

Founded in 2014 by former Fortis HealthcareBSE -1.67 % group CEO Vishal Bali, Ferzaan Engineer, Lalit Pai and Himanshu Shah, Medwell Ventures had raised $10 million from Eight Roads Ventures, formerly Fidelity Growth Partners India and F-Prime Capital Partners.

Also read: Sanjeev Kapoor's Wonderchef raised Rs 40 crore from French investor Labruyere Eberle

The company said the funds that have been raised for the Nightingales' business will be used to expand the company's footprint in the four cities it is operational in ­ Mumbai, Bengaluru, Hyderabad and Pune and also expand its network across 10 metro clusters.

Vishal Bali cofounder Medwell Ventures said, The idea is to grow deeper in each of the four cities. In Mumbai, we will add five to six more branches to the existing four.We will also start operations in NCR, Chennai and Eastern India.



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