Online medical devices distributor Collateral Medical has raised $3.5 million in a Series A investment from Carpediem Capital. The funds will be used to strengthen the company’s distribution capabilities and IT infrastructure as well as expand its service network.
Intellecap’s Investment Banking Group was advisor to the deal, Intellecap said in a statement.
Gagandeep Bakshi, Head, Investment Banking, Intellecap said, “Collateral Medical has created a capital efficient distribution model that has resulted in price transparency and efficient outreach in tier-2 and tier-3 cities. They have also managed customer stickiness and retention by providing after sales service. They are one of the few players in the market addressing the pain points of both suppliers and customers.”
Collateral Medical, one of the leading medical devices marketing and distribution companies, essentially caters to doctors, clinics, and small and medium private hospitals in tier-2 and tier-3 cities in the country.
Commenting on the investment, Nikhilesh Tiwari, Founder and CEO, Collateral Medical, said,
“It has been wonderful developing a platform to serve doctors, standalone clinics and small hospitals who struggle to source medical devices. The fund infusion will help us improve and enhance our capabilities to serve the medical community better and we are excited to have Carpediem Capital join us as trusted partners in our journey for the next level of growth.”
Collateral Medical, which sells medical devices and consumables through its online platform, acts as a demand aggregator thereby reducing the gap between the customers and OEMs.
Sanjay Jha, Director, Collateral Medical, says “With our focus on ensuring reasonable pricing, we have helped thousands of doctors in more than 400 districts across 28 states to bring their cost down.”
Abhishek Sharman, Founder and Managing Director, Carpediem Capital, said: “We believe that Collateral Medical has identified a niche and underserved market. The company is delivering value to OEMs in reaching their end customers and is also providing a compelling proposition to the customers in the form of transparency, service and range of products. We believe this funding will help them enhance their capabilities and services to their customers.”
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.
- Online Platform
- Medical Startup
- Medical device
- healthtech startup
- online distributor
- Carpediem Capital
- Collateral Medical
- Gagandeep Bakshi
- Nikhilesh Tiwari
- Just In