Veeda Clinical Research, a full-service clinical research organisation (CRO) in India, raised $16 million in a round led by private equity fund, Sabre Partners. This round also saw participation from distinguished HNIs like Pranab Mody (JB Chemicals), Havells India family office, Nikhil Vora (Sixth Sense Ventures) and Arjun Bhartia (Jubilant), among others.

Speaking about the development, Rajiv Maliwal, Founder and Managing Partner, Sabre Partners, said, “We are excited to partner with Veeda as an equity investor. The CRO industry is witnessing rapid growth resulting from a confluence of economic and regulatory tailwinds. We believe Veeda is well-positioned to capitalise this opportunity as one of the largest independent full-service clinical research organisations, by revenue in India, as of 31st March, 2021. They have offered a broad range of services with experienced scientific talent and management team, and we look forward to work with them.”

Adding to it, Ajay Tandon, Managing Director, Veeda, said, “We are delighted that Sabre Partners and the other distinguished investors have chosen to partner with us in realising our vision of being the preferred research partner offering a broad range of drug development, pre-clinical and clinical research services to our global innovator, generic and biopharma clients. We will continue to invest in developing our delivery capabilities, to be increasingly relevant to our clients’ objectives.”