May 29 2017

Mumbai-based healthtech startup Collateral Medical has secured $3.5 Mn its Series A round of funding from PE fund, Carpediem Capital. Intellecap’s Investment Banking Group acted as advisors for the deal.

The startup will deploy the raised funds towards scaling distribution capabilities, expansion of its service network, and further enhancing IT infrastructure.

Founded in 2010 by Nikhilesh Tiwari, the company is an online marketplace for medical products, equipments, and other raw materials. It focusses on supplying medical devices for doctors, clinics, and small and medium hospitals across Tier II and III cities in the country.

Nikhilesh Tiwari, founder and CEO, Collateral Medical said, “The fund infusion will help us improve and enhance our capabilities to serve 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.”