The funds will fuel Dr Mohan’s expansions plans; to scale from 25 clinics to 100 in the next four years
Diabetes care provider, Dr Mohan’s Diabetes Specialities Centre has raised Series A investment of $10.23 million (Rs 66 crores) led by Lok Capital advised Growth Fund – the third fund from Lok. This is the first round of institutional funding for Dr Mohan’s, since its inception in 1991. Dr Mohan’s will use the funds to scale rapidly, develop a pan-India presence and grow from a base of 25 clinics to 100 in the next four years. This round of funding also counts Evolvence India Fund as co-investor.
Venky Natarajan, Managing Partner, Lok Capital and Ajit Kumar, MD, Evolvence India Fund will join the board of Dr Mohan’s. Veda Corporate Advisors (Veda) was the exclusive financial advisor to Dr Mohan’s for this transaction.
Dr V Mohan said, “Our aim is to bring the best of diabetes care to centres across India; particularly to states and districts where specialised diabetes services are not available currently. The series A funding will help us accelerate expansion plans and triple our footprint in India in the next four to five years. We are delighted to have Lok Capital and Evolvence on board, whose significant knowhow and track record in healthcare will strengthen our hands and contribute to our goal of quality diabetes care for all Indians.”