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Medikabazaar eyes to achieve GMV of around US$ 700 million in FY22
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Yash Ved, Mumbai
December 27 , 2021
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Medikabazaar, an online B2B platform for medical supplies, is looking to achieve a gross merchandise value (GMV) of around US$700 million by March 2022 from US$400 million currently.
The company stated that it is eyeing 300% growth through FY 2021-22, with over 100,000 established corporates and government hospitals, over 150,000 individual small buyers and more than 15,000 seller partners already on board.
"We are continuously hiring people to bolster our supply chain across tier-2 and tier-3 cities. The motive behind expanding employee strength is to match the growth witnessed in our business and operations. In the next three years, we may publicly list in India or in the US through a special-purpose acquisition company, stated Vivek Tiwari, CEO and founder, Medikabazaar.
The company is also looking to expand existing operations in international markets like the Middle-East, South and South-East Asia, and Africa and even beyond to replicate model to other geographies.
The company stated that it has set up more than 45 fulfillment centres across the country to cater to the surge in customer base demands with a target to increase accessibility and faster availability of medical supplies and equipment across India’s farthest corners by augmenting their supply chain efficiencies.
Tiwari added, "The expansion of fulfilment centres will play a major role in easing the distribution and delivery of products but also reduce costs in the long term. We are also heavily invested in working on the wearable devices segment and this category will play a big role in holistic healthcare development. We are working on developing products that can monitor post-hospitalisation progress of patients. We are soon going to implement AR/VR technology based services to enhance customer experience and make it more intuitive.”
Medikabazaar is India's pioneering and largest online B2B healthcare platform for medical supplies. Founded in 2015 by Vivek Tiwari and Ketan Malkan, the company has been growing exponentially and is now clearly the most prominent digital healthtech platform in India's medical procurement and supply chain industry.
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