Leading branded pharmaceutical company, Koye Pharma, has raised Rs. 30 crores in debt from Mumbai based NBFC - BlackSoil Capital. The company will primarily use the funds to strengthen its position in the domestic formulation market and for fueling its growth led working capital requirements.
Speaking on the debt raise, Ravindra Shenoy, Founder & Director, Koye Pharma said, “We are pleased to partner with an institution of the calibre of BlackSoil and strongly believe this association will further our long term aspirations and aid our continuous pursuit of a strong growth trajectory with enhanced focus on profitability.”
Founded in 2013, by industry veterans Preetish Toraskar & Ravindra Shenoy with over two decades of experience each in transnational leading pharmaceutical companies like Lupin, Alkem, Novartis, Mylan, Aurobindo and Cipla.
Koye Pharma is one of the fastest growing mid-sized pharmaceutical companies offering branded pharmaceutical products across therapeutic segments including womens healthcare, respiratory care, primary care, diabetes care and consumer healthcare. The company has a pan India presence and robust distribution network covering over 1.4 lakhs retail pharmacies. It has grown at a CAGR of 42% over 4 years. The Mumbai based firm is backed by multi-stage investors Sequoia & PremjiInvest and raised significant growth equity capital in the past 5 years.
“Despite the changing regulation & prevailing market condition, the company has shown resilient revenue growth with work towards profitability on the back of strong network and nationwide presence, solid management team, differentiated fast growing brands and focus on niche therapeutic segments including consumer health & wellness ” said Ankur Bansal, Director, BlackSoil Capital Private Limited.
Blacksoil’s alternative credit platform has successfully concluded more than ~45 transactions to VC backed growth companies so far in the past 4 years and deployed more than 460 crores.
About Koye Pharma
Koye is a speciality pharma company which is focused on the Indian Pharmaceutical market with operations across the length and breadth of the country. It employs more than 400 qualified ambassadors who meet up more than 50000 doctors across the country every month. Koye strives to go the extra mile – to anticipate the needs of the people and provide care that exceeds expectations. Koye is set to grow widely, working towards a healthier and happier world. It is committed to heal, cure and provide general well being and happiness.
About BlackSoil
Launched in 2016 byM P Bansal and Ankur Bansal, BlackSoil is a new-age venture debt platform also focused on structured and real estate debt. Backed by family offices, Blacksoil investments have been sector agnostic as they have developed expertise in multiple domains such as Financial Services / Fintech, E-Commerce, SaaS, Logistics / Mobility, Healthcare, Consumer, travel, Industrial services, Real Estate, & many more. Some of their key investments have been in category leaders such as Oyo Rooms, EarlySalary, Chumbak, Lets Transport,Vogo, Rentomojo amongst others. BlackSoil has disbursed over INR 1600 Cr across 90+ deals in 4 years.