May 29 2017

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,