GenWorks Health Secures ₹41 Crore in Funding Led by Evolvence India Fund

GenWorks Health Private Limited, a Bengaluru-based healthtech platform, has successfully raised ₹41 crore in a funding round led by Evolvence India Fund. The round also saw participation from Somerset Indus Healthcare Fund and individual investors, including Kasiraman Swaminathan.

The funding was secured through a special resolution passed by the board at GenWorks Health, which approved the issuance of 5,12,500 Compulsory Convertible Preference Shares (CCPS) at a face value of ₹100 each and a premium of ₹700 each, according to regulatory filings with the Registrar of Companies.

Evolvence India Fund contributed ₹24.6 crore, while Somerset Indus Healthcare Fund invested ₹8.2 crore. Kasiraman Swaminathan and Ramesh Kumar Sivaraman also participated in the round, investing ₹6.1 crore and ₹2 crore, respectively.

Evolvence India Fund (EIF) is a boutique investment management firm that specializes in private investments in India, including buyouts, growth, and venture capital. EIF is sponsored by and forms part of the Dubai-based alternative investment firm, Evolvence Capital.

GenWorks Health began its journey as a Wipro GE-invested company and has since evolved into a leading healthtech platform focused on addressing the three fundamental challenges in healthcare: access, affordability, and adoption. Over the past decade, the company has made significant strides in providing medical devices for cardiology, newborn care, ENT, and femtech. With a presence across India, GenWorks Health has reached 200 million people, according to its website.