PremjiInvest strikes a deal by investing in Koye Pharmaceuticals

PremjiInvest, the family office of Wipro Ltd Chairman Azim Premji, has invested in Mumbai-based Koye Pharmaceuticals Pvt Ltd. The financial details of the transaction have not been disclosed.

This investment will help Koye to strengthen its position in the domestic formulation market and pursue newer business avenues. This is PremjiInvest's first investment in a pharmaceuticals company in India.

Founded in 2013 by Ravindra Shenoy and Preetish Toraskar, Koye makes essential drugs for primary speciality care. The company had first raised external capital from multi-stage investor Sequoia Capital in the same year.