Mumbai-headquartered retail pharmacy chain Wellness Forever on Monday announced that it has raised Rs 1,300 crore in funding led by UAE-based Allana Group and Serum Institute CEO Adar Poonawalla. Existing investors including banker and renowned investor Rajiv Dadlani and venture capitalist Sajid Fazalbhoy also participated in this round. The funds will be utilised for store expansion, strengthening their private label brands under its 100 percent subsidiary Amore — which focuses on wellness and health products, and invest more in ecommerce.

(Live Mint)