BlackSoil leads $4 Mn round in GenWorks Health

Medical technology company GenWorks Health Private limited has raised an investment of $4 million led by alternative credit platform BlackSoil.

The proceeds will be deployed towards expansion activities, growth of the customer base, as well as to maintain a robust infrastructure, such as equipment, software, technology, and staffing, GenWorks said in a press release.

Founded by S Ganeshprasad, GenWorks Health helps distribute medical devices and claims to have a presence pan-India and serves over 40,000 customers in more than 700 districts across the country. With a focus on enhancing healthcare outcomes through the application of innovative technology, the company has broadened its product portfolio to encompass the entire care cycle of patients, including screening, diagnosis, treatment, and monitoring.

According to GenWorks, the investment will support its Health’s efforts to provide high-quality healthcare to underserved areas and contribute to making healthcare more affordable and accessible in tier II/III cities across the country. 

BlackSoil currently manages an alternative credit platform consisting of an RBI-registered NBFC and four SEBI-registered AIFs. The fund's investment’s include Upstox, Slice, Mobikwik, Udaan, Zetwerk and others.