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The Next Unicorn in India May Be CDC-Backed Startup Medikabazaar

  • Medikabazaar plans to have an IPO in three years, CEO says
  • Digital platform supplies some of India’s biggest hospitals

Medikabazaar, an online platform selling medical supplies and equipment to some of India’s biggest hospital chains, aims to hit a $1 billion valuation within the next three to six months as it taps into an e-commerce funding boom in the country.

The parent company Boston Ivy Healthcare Solutions Pvt. expects to reach unicorn status by the end of its next round of series-D financing for about $150 to $200 million, according to Chief Executive Officer Vivek Tiwari. In three years the firm may publicly list in India or in the U.S. through a special-purpose acquisition company, or SPAC, he added.