[Funding alert] Healthtech firm Indegene raises $200M from Carlyle Group, Brighton Park
Healthtech firm Indegene on Wednesday said it has raised $200 million from US-based investment firms Carlyle Group and Brighton Park.
According to sources, the two investment companies have picked up minority stakes in Indegene. The investment was made through a primary and secondary sale to buy out existing investors.
“The two investors have expertise in healthcare and technology. They are ideal partners to support our company’s continued growth,” said Manish Gupta, Co-founder and CEO, Indegene.
Sources say that the company is now valued at $650-700 million, making it a soonicorn.
Founded in 1999 by Rajesh Nair, Sanjay Parikh, Anand Kiran, Gaurav Kapoor, and Manish Gupta, Bengaluru-based Indegene claims to be working with 75 of the world’s largest pharma companies. It crunches numbers to prepare legally compliant clinical data, which helps pharma companies communicate comprehensive details of a specific drug to medical representatives and doctors.
Indegene started as a marketing company for pharmaceutical drugs, eventually becoming an organisation creating content that pharma majors need for their trials.
Indegene helps pharma companies with research
Indegene said it uses machine learning to enable data-driven customer experiences, omnichannel campaign effectiveness, and operational efficiency. Through its multichannel maturity framework, the company said it helps pharma companies optimise operations and offer intelligent customer engagement.
According to the company, at one end of the maturity spectrum, it partners with life science companies to establish and manage enterprise-level centres of excellence for content creation, production, and localisation for management of campaign operations, as well as for data and analytics. On the other end, it manages content to train sales reps and doctors.
"We help young drug discovery companies plan their go-to-market (strategies), right from compliance and governance to clinical trials, to enable them to market the drug," Manish had said in an earlier interview with YourStory.
The company works on a full-time equivalent (FTE) model plus per transaction-based pricing for its AI-enabled modules. It has more than 3,000 employees globally and the majority of its business comes from the US, followed by Europe and China.