India: Vet pharma Ashish Life Science raises $6m from Eight Roads, Anterra Capital

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Veterinary pharmaceuticals company Ashish Life Science has raised Rs 45 crores ($6.3 million) in a round led by Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd.

According to an official statement, the Series A round also saw participation from Netherlands-based, food and agriculture-focussed specialist fund, Anterra Capital.

The export-focused company plans to use this latest capital to scale the business in its current geographies and expand into regulated markets such as Europe, Australia and South Africa.

“With the Series A funding, we are focusing on deepening our presence in the semi-regulated markets and tapping into the veterinary generics segment in the regulated markets,” said Ashish Life Science Managing Director Raujesh Agarrwal.

Founded in 2002, Ashish Life Sciences claims to have a portfolio of over 100 products and presence in over 50 countries. It is trying to capture a part of the  $31-billion global animal health products opportunity, comprising pharmaceuticals, vaccines and feed supplements.

Eight Roads Ventures, formerly Fidelity Growth Partners India, invests in companies in India and Southeast Asia across technology, healthcare, financial services and consumer sectors. Its investments in the healthcare sector in the region include Carestack, Cipla Health, Core Diagnostics, Eywa Pharma, Laurus Labs, Medwell Ventures, Pharmeasy, Plasmagen Biosciences, Richcore Lifesciences and Trivitron Healthcare.

Earlier this month, Eight Roads invested Rs 218 crore ($30.6 million) in the injectables unit of Caplin Point Laboratories Ltd.

“We believe this segment is at the same inflexion point for generic penetration as the human pharmaceutical industry in the early 2000s. Indian companies are very well positioned to capture this emerging opportunity given the country’s strengths in generic product development and manufacture,” said Prem Pavoor, Partner at Eight Roads Ventures.

Specialist venture capital firm Anterra Capital is backed by Eight Roads and Dutch banking firm Rabobank and has offices in Amsterdam, Boston and Massachusetts.

Also Read:

Caplin Point arm raises $31m from Eight Roads, F-Prime Capital

India: PharmEasy raises $50m Series C from Eight Roads Ventures, others

India: Health-tech startup CareStack raises $16m led by Accel, F-Prime, Eight Roads

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.