GenWorks Health Private Limited, a provider of medical technology, has secured a $4 million investment led by alternative credit marketplace BlackSoil.
According to a press release from GenWorks, the funds will be used to maintain a strong infrastructure, including equipment, software, technology, and staffing, as well as to engage in expansion activities and expand the customer base.
S Ganeshprasad founded GenWorks Health, which assists in the distribution of medical devices and asserts to have a presence throughout India, serving over 40,000 clients in more than 700 districts. The company has expanded its product portfolio to cover the entire patient care cycle, including screening, diagnosis, treatment, and monitoring, with a focus on improving healthcare outcomes through the application of innovative technology.
The investment, according to GenWorks, will aid its Health’s initiatives to deliver high-quality healthcare to underserved areas and help make healthcare more accessible and affordable in tier II/III cities across the nation.
BlackSoil currently oversees an alternative credit platform made up of four SEBI-registered AIFs and an NBFC with RBI registration. Investments in the fund also include Upstox, Slice, Mobikwik, Udaan, and Zetwerk.
