Generic Aadhaar gets funds from Beyond Next

Ratan Tata-backed startup Generic Aadhaar said it has raised an undisclosed amount as part of Pre-Series A funding from Japanese venture capital firm Beyond Next Ventures at a valuation of ₹500 crore. Generic Aadhaar said it has diluted close to 10% stake in the latest fund raise.

The Mumbai-based startup founded in 2018, by Arjun Deshpande when he was just sixteen sells generic medicines through franchisee stores, which are upto 80% cheaper compared to market prices.

This marks the first institutional investment for Generic Aadhaar. Earlier, Tata Trusts Chairman Ratan Tata had invested an undisclosed amount as an angel investor.

The fresh capital will be deployed by Generic Aadhaar to expand its pan-India franchisee stores from 1,500 to 3,000, invest on digitization and widen medicine product offerings.