Harsoria Healthcare, a manufacturer of single-use medical devices has raised $20 million in investment led by Tata Capital Healthcare Fund II (TCHF II), the healthcare-focused private equity fund of Tata Capital, for an undisclosed equity stake.
The funding round also saw participation from marquee investors, including Utpal Sheth, Ashish Kacholia and associates, and the LNB Group.
Harsoria Healthcare plans to utilize the capital to expand manufacturing capacities, enhance R&D efforts, and drive business development.
Neeraj Gupta, Managing Director, Harsoria Healthcare said, “This is an extremely proud moment, and an important milestone, for the Harsoria group as we commence our partnership with some of the leading investment houses in India. This reaffirms the strength of our business model that has evolved with contributions from all stakeholders in the organization – our employees, customers, suppliers and investors. We look forward with great excitement to accelerating our growth trajectory, while remaining committed to developing high-quality, innovative and cost-effective medical devices for global and Indian healthcare providers.”
Visalakshi Chandramouli, Managing Partner at Tata Capital Healthcare Fund II said, “We are thrilled to partner with Harsoria Healthcare, a leading Indian manufacturer of vascular access devices with a robust presence in international markets. Under the leadership of first-generation entrepreneurs Neeraj and Nitin Gupta, the company has thrived over two decades by focusing on product innovation and manufacturing high-quality medical consumables. Harsoria exemplifies the ethos of ‘Make in India for the World,’ with its products achieving success in markets like the US and Western Europe. We believe in the company’s potential and look forward to being a part of its growth journey.”
