INVC NEWS
Mumbai,
IvyCap Ventures, one of the leading homegrown venture capital funds, announced the sale of its stake of Pharmarack at an annual Internal Rate of Return(IRR) of 104% where IvyCap had invested INR21 crore in 2019.
Pharmarack is India’s largest integrated B2B healthcare platform – combining technology, analytics, logistics, supply chain &financing. In other words, it is an ecosystem partner for pharmaceutical and consumer health companies, distributors, retailers, hospitals, and public health enterprises. With more than the top 20 pharma companies as clients, their extensive value chain covers 200k pharmacies, more than 5000 pharma distributors, and 200 hsopitals. They cover around 1000+ pin-codes all over the country. Their neutral network, flexible integration, and digital ecosystem make it a highly secure platform. Even during the challenging times of COVID-19, Pharmarack has enabled last-mile delivery from distributors to retailers, to ensure complete fulfilment.
IvyCap Ventures had believed in the potential of the company and the industry.Commenting on the financial development, Vikram Gupta, Founder & Managing Partners, IvyCap Ventures,said, “Pharma industry has always been a highly fragmented sector with manual processes and multiple intermediaries. Efficient inventory management, value-chain engagement, particularly logistics enablement from order to billing make a company like Pharmarack an essential component of the industry. Pharmarack’s mission is to improve access to healthcare by driving availability and affordability in the market with its connected ecosystem – one in which all parts of the healthcare world seamlessly connect to networked data, information, knowledge, and processes in order to reduce costs, improve productivity, and deliver better care. With its new set of strategic investors, Pharmarack, in its next phase of growth, would further accelerate digital adoption in pharma and contribute towards substantially improvinghealthcare in India
