Ratan Tata invests in Mumbai teen’s startup ‘Generic Aadhaar’

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Former Tata Sons chairman Ratan Tata has invested an undisclosed amount in ‘Generic Aadhaar’, a unique pharmaceutical venture founded by 18-year old Arjun Deshpande.

Generic Aadhaar, a pharmacy-aggregator, sells medicines at much cheaper rates, cutting out the middlemen.

“When Sir Ratan Tata came to know about the business plan, he was impressed and decided to be a part of this mission in a personal capacity and help Generic Aadhaar reach every Indian,” Arjun Deshpande said in a statement.

“Our mission is to provide senior citizens and pension holders the care they deserve with our idea of delivering inexpensive medicines which are required on a daily basis,” he added.

“These medicines are sourced from WHO-GMP certified manufacturers to reduce the cost and make it pocket friendly for the consumers and the medical stores are able to increase their margins by using the Generic Aadhaar branding,” the company said.

According to sources, Ratan Tata has made the investment in his personal capacity. Notably, Mr Tata has invested in many startups in the past, including Paytm, Urban Ladder, Ola, Lenskart, Lybrate, Snapdeal and CureFit.

At present, there are over 30 franchisees of the pharmaceutical startup across Mumbai. Operating with the manpower of over 50 employees, including IT engineers, pharmacists and marketing professionals, currently the startup delivers hypertension and diabetes drugs. Reportedly, the venture will soon begin offering cancer drugs as well at affordable rates.

In the coming months, Generic Aadhaar is planning to expand in several cities across Maharashtra, Goa, Karnataka, and Gujarat.

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