Reliance Industries Unit Invests Rs 10 Cr in Digital Healthcare Startup
Mukesh Ambani led firm Reliance Industries Ltd. (RIL) has invested a mammoth amount of Rs. 10 crores in an early stage healthcare technology platform called KareXpert Technologies Pvt. Ltd.
According to the sources, the investment has been made by RIL’s subsidiary and investment arm, Reliance Industrial Investments and Holdings Ltd (RIIHL).
A person familiar with the matter said, "RIIHL has bought 22,222 preference shares in KareXpert Technologies Pvt. Ltd by way of private placement at a cost of Rs 4,500 a share and later may buy the entire lot of 66,666 preference shares in a few tranches, probably by pumping in another Rs20 crore."
KareXpert Technologies is a digital healthcare provider startup founded in 2004 by Nidhi Jain. Based in Gurugram, company claims its technology to b...