LifCare raises $11 mn from SAIF Partners, Nexus Venture, IL&FS
Corner Store Technologies that operates its pharmacy business under the 'LifCare' brand today said it has raised USD 11 million (over Rs 75 crore) in Series B funding round from SAIF Partners, Nexus Ventures and IL&FS.
The funds will be used to expand LifCare's geographical presence and further invest in technology, the company said in a statement.
LifCare is a subscription pharmacy targeting patients with chronic illnesses, it added.
"With this round, we're excited to further expand our geographic footprint. We will also look to expand our suite of services to become a full-service disease management platform for chronic patients," LifCare CEO & Co-founder Krishna Killa said.
Apart from medicine delivery, LifCare will also be providing end to end services that chronic patients need to manage their diseases better, the company said.
"By focusing on the patients' need to manage their disease, Lifcare is providing a unique value proposition in the medicine delivery market. The team has executed brilliantly over the last two years and we expect to see strong growth in the coming years," Nexus Venture Partners MD & Co-founder Sandeep Singhal said.