BlackSoil invests Rs 35 Cr across five startups
- ByManjeet Singh | October 13, 2021
A venture debt provider, BlackSoil, today announced that it had provided growth capital of Rs 35 crore to five startups via Venture Debt. The list includes the two-wheeler financing company Orange, the marketing automation platform WebEngage, the D2C FMCG company Habanero Foods, the fintech company CASHe, and the leading generic pharma manufacturer.
“These companies have shown tremendous growth in their segments and are backed by experienced management and marquee investors. Their unique business positioning and ability to survive through adversities like Covid is what made these companies attractive propositions for BlackSoil,” said Ankur Bansal, Co-Founder and Director of BlackSoil.
Additionally, BlackSoil provided debt to a leading generic pharmaceutical company. The company offers products across a range of therapeutic areas, including consumer healthcare, respiratory care, primary care, diabetes care, and women’s health. It boasts a pan-India presence and a distribution network that covers over 150,000 retail pharmacies. Funds will be used primarily to meet working capital requirements associated with the company’s growth.
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