Eight Roads leads $6.3m round for India pharma player

Ashish manufactures more than 100 veterinary products targeting a range of animal types, including farm animals, pets, and bees. Its portfolio includes feed supplements, antibiotics, analgesics, and antiparasitic products, which are marketed to more than 50 countries, mostly in the Middle East and Africa.

Anterra Capital, a Netherlands-based VC firm that specializes in investments in sustainable food and agriculture companies, also participated in the transaction, which is the first round of external capital raised by Ashish. The company will use the new capital to scale its business in its current geographies and enter new markets in Europe, Australia, and South Africa, having recently received good manufacturing practices (GMP) certification from the EU.

“We believe this segment is at the same inflection point for generic penetration as the human pharmaceutical industry in the early 2000s,” said Prem Pavoor, a partner at Eight Roads, in a statement. “Indian companies are very well positioned to capture this emerging opportunity given the country’s strengths in generic product development and manufacture. We look forward to helping Ashish continue to cement its leadership position in this next phase of growth.”

Eight Roads, the proprietary investment arm of Fidelity International, is an active investor in India’s pharmaceutical space. Its portfolio includes generic drug makers Caplin Point and Eywa Pharma, along with online pharmacy PharmEasy.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Healthcare
• Early-stage
• India
• Eight Roads
• Pharmaceuticals