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Healthquad closes Rs 75 cr fund to support healthcare cos

Press Trust of India  |  New Delhi 

Healthquad, a healthcare focused venture capital fund, today said it has closed a new fund with total commitment of Rs 75 crore.

The fund will invest in 8-10 companies in pre-series A/ Series A rounds and deploy the total capital over the course of next 12-15 months.

The capital will be invested in companies that can disrupt the healthcare landscape by dramatically improving productivity, affordability and accessibility through their differentiated and innovative solutions, Healthquad said in a statement.

These include areas like healthcare delivery services, life sciences, medical devices and technology, healthcare IT and associated healthcare services.

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Online micro-delivery Startup MrNeeds raises about USD 500k * Noida-based online micro-delivery startup, MrNeeds has raised close to USD 500,000 in pre-Series A funding from a consortium of investors.

The company intends to use this capital to expand its operations from select neighbourhoods in to other parts of Delhi-NCR region, it said in a statement.

Founded in 2016, MrNeeds runs an app-based subscription service that delivers milk, bread, eggs and other groceries on a daily basis to its customers. It serves over 36,000 orders a month, with 9,000 families in as its subscribers.

MrNeeds levies no delivery charges and does not specify a minimum order value for its customers.

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Innov8 appoints co-founder Shailesh Gupta as CEO * Co-working space provider Innov8 today said its co- founder Shailesh Gupta will take over as the CEO, while his partner Ritesh Malik has been named as the Managing Director of the company.

"Innov8 is further strengthening its foothold by adding seven more centres to its portfolio in next six months. The company plans to be in 5 major cities by FY17," Innov8 said in a statement.

In his new role, Gupta will spearhead strategy, partnerships and foster new talent to support the growth of Innov8, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 18:32 IST