Carpediem Capital invests Rs 23 cr in medical devices distributor Collateral Medical

BENGALURU: Collateral Medical, a pan-India online distributor of medical devices, has raised $3.5 million (about Rs 23.3 crore) in a Series-A investment from Carpediem Capital.

The company plans to use the funds towards strengthening its distribution capabilities, expanding service network and strengthening the IT infrastructure.

"The fund infusion will help us improve and enhance our capabilities to serve medical community better," said Nikhilesh Tiwari, CEO at Collateral Medical.

Collateral Medical targets the medium and mini private hospitals in tier-II and -III cities.

"We believe that Collateral Medical has identified a niche and underserved market," said Abhishek Sharman, MD at Carpediem Capital. "The company is delivering value to OEMs in reaching their end customers and is also providing a compelling proposition to the customers in the form of transparency, service and range of products."