MUMBAI: Venture capital fund Fulcrum Venture India today announced an investment of Rs 21.82 crore into Shield Healthcare, a pharma start-up engaged in branded formulations space.
The infusion will be used to fund business expansion and for the integration of amanufacturing unit, a statement from Fulcrum said, without divulging the quantum of equity it has picked up.
Fulcrum's founder Krishna Ramanathan said attractive valuation and a strong product catalogue helped it seal the deal.
He said the company is targeting increasing its revenue to Rs 100 crore by 2016 from the Rs 31 crore it expects to close FY13 with and Rs 24 crore it clocked in FY12.
