GenWorks Secures INR 41 Cr Funding Led by Evolvence Fund The regulatory filing reveals that GenWorks will issue 5,12,500 Compulsory Convertible Preference Shares (CCPS), each with a face value of INR 100 and a premium value of INR 700, to secure the funds.
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Healthcare firm GenWorks has raised INR 41 crore (approximately USD 5 million) in a recent funding round spearheaded by Evolvence Fund.
The round also saw contributions from Somerset Indus Healthcare Fund and notable individuals from the Zawawi Group.
The regulatory filing reveals that GenWorks will issue 5,12,500 Compulsory Convertible Preference Shares (CCPS), each with a face value of INR 100 and a premium value of INR 700, to secure the funds.
Evolvence Fund invested INR 24.6 crore, acquiring a 1.51% stake, while Somerset Indus Healthcare Fund contributed INR 8.2 crore for a 4.54% stake.
Key individuals Kasiraman Swaminathan and Ramesh Kumar Sivaraman invested INR 6.1 crore and INR 2 crore, respectively, holding 1.52% of the company.
Founded by S GaneshPrasad, GenWorks provides a range of medical devices covering cardiology, ENT, IVD, newborn care, radiology, respiratory diagnosis, and others.
Since its inception, the company has impacted over 200 million people in India and continues to reach 6 million lives annually, as per its website.
Initially backed by Wipro GE, GenWorks aims to address critical challenges in healthcare—access, affordability, and adoption—by leveraging its platform to drive significant improvements in these areas.
