Zeno Health, a Mumbai-based healthcare start-up, has announced its acquisition of Kolkata-based start-up Tablt Pharmacy. As part of its expansion plans, Zeno Health, along with Tablt, will be strengthening its reach in the states of West Bengal, Odisha, Bihar, and Jharkhand. However, the acquisition amount has not been disclosed by the start-up.
Tablt, a Bharat-focused online pharmacy startup, has been operating in Tier 2 to Tier 6 geographies in Eastern India. It operates through nearly 300 franchises across the eastern Indian states of West Bengal, Bihar, Jharkhand, and Odisha and has served more than 2 lakh consumers so far. Since its vision was in alignment with Zeno Health, the merger of the two companies is considered the right synergy by both start-ups, according to a company statement.
Girish Agarwal, co-founder of Zeno Health, said, "As we aim to reach and serve more than 1 crore consumers every month, we are also aspiring to reduce their healthcare expenditures by 50 per cent. Thus, our merger with Tablt and their excellent team will expedite our journey to rural and semi-urban areas, addressing the immense need for generic medicines."
The merger between Zeno Health and Tablt not only brings together two industry leaders but also signals a strategic move towards a more inclusive and accessible healthcare ecosystem for the diverse population of India, according to a company statement.
Recently, Zeno Health raised $25 million in a Series C fund round in February. It was led by the South Korean private equity firm STIC Investments. Other investors, such as Lightbox Ventures, also participated in the round. The company had said that it would use the capital to increase its technological infrastructure and expand its footprint. As of now, in both equity and debt, the start-up has raised around $56 million, as per data platform Tracxn.
