Koye Pharma (1) has recently secured 30 crore INR in debt funding from BlackSoil Capital, Mumbai-based NBFC. The pharmaceutical startup will utilize the latest tranche to strengthen its position in the domestic market for formulation. It is further fueling its growth while working on its capital requirements.
Ravindra Shenoy, Founder, and Director of Koye Pharma, stated that he is delighted to collaborate with BlackSoil. He added that he hopes that the association will scale up their long-term aspiration. The union will help the pharma startup robust its growth trajectory while enhancing the firm’s profit.
There have been many revisions in the regulations, along with the fluctuation in the market. However, Koye Pharma is seen to be rebounding to these conditions. The firm has revenue growth along with an influential network, nationwide presence, robust management team. The startup focuses on therapeutic vertical and health and wellness, stated Ankur Bansal, Director, BlackSoil Capital Private Limited.
More Details on Koye Pharma
The pharmaceutical startup was initiated in 2013. Two industry sourdoughs, Preetish Toraskar and Ravindra Shenoy, founded Koye Pharma. The Mumbai-based firm is has had the backing of several investors such as Sequoia and Premji Invest.
Both founders of Koye Pharma, Preetish, and Ravindra, has over 20 years of experience. Both of them have previously worked with transnational pharmaceutical companies, including Lupin, Alkem, Novartis, Mylan, Cipla, and Aurobindo.
The pharma startup offers branded products in therapeutic verticals such as women’s healthcare, primary care, respiratory care, consumer healthcare, diabetes care, etc. Koye Pharma has over 400 qualified employees as ambassadors. They meet over 50,000 physicians across India each month.
The startup has its presence across all India’s major cities and has a solid distribution network in over 1.4 lakh retail pharmacies. In the previous four years, Koye Pharma has grown by 42%.