Zeno Health raises $25M in Series C round

Mumbai-headquartered omnichannel medicine delivery platform ZenoHealth, which specialises in selling generic medicines has closed $25 million in a Series C funding round led by South Korean private equity investor, Stic Investment. Returning investor Lightbox also participated in the round. 

Zeno Health will use the capital to expand its footprint and improve its technological infrastructure. 

With this round, the startup has raised $56 million in equity and debt across multiple rounds, according to market research and data platform Tracxn. It was valued at $90.6 million as of March 2022. 

“Zeno Health has demonstrated a remarkable commitment to reshaping the healthcare landscape in India. Their vision aligns with our values, and we look forward to contributing to their journey towards making quality healthcare accessible across India,” said Derrick (Kihyun) Yun, Managing Director of STIC, in a press statement. 

Zeno Health had last raised $12.1 million as part of an extended Series A funding round led by Lightbox, Toy Ventures, Whiteboard Capital, Singularity Ventures, and others.

Founded in 2017 by Siddharth Gadia and Girish Agarwal, Zeno Health currently has a network of 180 stores and 200 micro franchises. The company claims to have served 25 lakh consumers, offering a choice of high-quality generic and branded medicines. 

“We are thrilled to welcome STIC as a key partner in our journey. Their investment, coupled with the continued commitment from Lightbox, signifies a resounding endorsement of our mission to make quality healthcare affordable to all,” said Siddharth Gadia, Co-founder and CEO at Zeno Health.

He added, “The company remains steadfast in its mission to reach and serve 1 crore consumers monthly, aspiring to reduce their healthcare expenditure by 50%.”

Formerly known as Generico, Zeno Health competes with the likes of Alkemi-backed Medkart in the online generic medicine delivery space.