Dawaa Dost becomes maiden Indian startup to raise debt funding under UN SDG-3

Dawaa Dost announced that it has become the first private company in India to raise funds from Grameen Impact for the social impact it is creating by contributing to the UN’s SDG-3 targets. The company has raised debt funding from Grameen Impact, an “Impact-focussed NBFC” promoted by Grameen Capital, whose mandate is to invest in enterprises that have demonstrated social responsibility and/or meet social performance requirements and have strong commercial potential.

In a statement, Dawaa Dost notified that it has been granted funds for its efforts towards SDG-3, ‘Good Health and Well Being.’ The SDG includes several sub-targets including 3.8 which pertains to access to safe, effective, quality and affordable essential medicines and vaccines for all, and 3.D, which focusses on strengthening the capacity of all countries for early warning, risk reduction and management of national and global health risks. The company has the opportunity to benefit from a “Pay-for-Performance” model which would effectively reduce the interest payable, partially or completely, based on meeting the SDG-related milestones.