Bengaluru-based Genworks has raised a second round of funding to the tune of Rs 135 crore from investors such as Somerset Indus Capital Partners, Morgan Stanley through its Grand Vista arm, Evolvence and Wipro GE.
S Ganesh Prasad, Founder, MD, and CEO of GenWorks, spoke about his vision.
"At GenWorks, our mission has always been clear: to raise awareness about the importance of affordable health care. In the fields of mother and child care, critical care and cardiology, radiology, and hospital solutions, the trip began in 2015. With GE as our principal technology partner, we started with 160 workers in 30 sites. Today, as part of our effort to enable affordable access through 500+ individuals in over 130 places, we have a plan to address care cycle requirements in every location."
The funding will be used to support working capital needs, applicable M&A to engage in manufacturing partnerships, and expansion in the in-vitro diagnostics domain, according to GenWorks. Furthermore, the newly infused funds will be utilized to create "Human Capital," allowing for quick expansion and increasing "Platform Participation," among other things.
GenWorks began as a Wipro GE-backed startup with the goal of building a platform to address the three major concerns in healthcare: access, affordability, and adoption. GenWorks was created to fill in the gaps in the healthcare sector by leveraging its tight relationship with GE Healthcare, whose aim is to be "At work for a healthy India." The organization aspires to provide high-quality treatment to people all around the country. GenWorks' state-of-the-art digital solutions are devoted to raising awareness by leveraging available technology and offering inexpensive solutions across continents, with an emphasis on enhancing specialist access for the last mile.