Mumbai-based alternative credit platform BlackSoil has invested $4 million in GenWorks Health Private Limited, a healthcare technology solutions provider in India.
This investment is a part of BlackSoil’s commitment to the healthcare sector, and it is expected to support the growth and development of GenWorks Health while contributing to innovative healthcare solutions.
BlackSoil’s investment in GenWorks Health is expected to further fuel the company’s growth and development as a leader in the medical technology industry. With other investors including Somerset Indus Capital Partners, Evolvence, and Morgan Stanley, GenWorks Health is poised to make healthcare more accessible and affordable across India.
GenWorks Health is known for distributing medical devices and consumables throughout India, with a pan-India presence and a customer base of over 40,000 in more than 700 districts across the country. Their focus on enhancing healthcare outcomes through innovative technology has broadened their product portfolio to include screening, diagnosis, treatment, and monitoring of patients.
S Ganeshprasad, founder, Managing Director, and CEO, Genworks said, “We are pleased to tie up with Blacksoil and have them as our partner. Their funding will aid our expansion activities, grow the customer base, as well as help us maintain a robust infrastructure, such as equipment, software, technology, and staffing, to support the delivery of our healthcare services”
Ankur Bansal, co-founder of BlackSoil Capital, said, “Our investment in Genwork Healthcare is not only a testament to their potential for growth, but also to our belief in the transformative power of healthcare technology. By leveraging our expertise and resources, we are confident that together we can make a positive impact on the healthcare industry and improve the lives of countless individuals.”
The investment from BlackSoil will support GenWorks 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.