Alternative credit platform BlackSoil on Wednesday announced an investment of Rs 10 crore in dermatologist clinics firm Sreyas Holistic Remedies Pvt Ltd. Sreyas Holistic Remedies operates a chain of dermatologist clinics under the brand name of Oliva, offering skin and hair care products and treatments.
At present, the company operates 23 advanced clinics in seven Indian cities. ”BlackSoil, a venture debt and alternative credit fund, today announced its first investment of Rs 10 crore from its new alternative investment fund Blacksoil India Credit Fund into Sreyas Holistic Remedies Pvt Ltd (Oliva),” the credit platform said in a statement.
The fresh raise will be used by Oliva for its working capital requirement, general corporate purpose and to retire part debt. In the recent past, Hyderabad-based startup Oliva has raised more than Rs 100 crore till date from India Life Sciences Fund, Entrust Family Office Investment Advisor and a few more, the statement said.
Blacksoil is a specialised credit platform focused on providing debt solutions to PE/VC backed growth companies. It has completed over 45 deals in this space and disbursed Rs 450 crore in the past four years of operations. This is the firm’s sixth deal in the healthcare space.