The fleet management company trackNOW has received an undisclosed investment from the Poonawalla Group. The new investment would allow trackNOW to expand its operations and have “access to invaluable mentorship and industry expertise,” according to a statement from the Poonawalla Group. TrackNOW, which was founded in 2016 by Pooja and Suyash Khemka, provides logistics platforms and merchants with fleet management and tracking solutions.
TrackNOW’s real-time monitoring solutions provide insight into the location, status, and condition of their clients’ assets by using technologies including cloud computing, GPS, and the Internet of Things (IoT). The Poonawalla Group’s investment, according to trackNOW cofounders, is a major affirmation of the company’s concept and a credit to the diligence and commitment of its whole staff.
It is an honour for the brand to have such a well-known and esteemed group support it. In addition to giving trackNOW the funding it needs to expand, this relationship will give the business access to priceless industry knowledge and coaching.
Poonawalla Group Expanding its Portfolio
According to the Poonawalla Group, it plans to increase the size of its holdings and make large investments in additional “notable and high-potential ventures” soon. It intends to concentrate on supporting businesses in a variety of industries and provide them with networking opportunities, industry knowledge, and mentorship.
Regarding the investment in trackNOW, Yohan Poonawalla, chairman of the Poonawalla Group, stated that financial returns are not the only consideration when making an investment in potential startups like trackNOW. It’s about inspiring and mentoring young, creative businesspeople and giving them the tools and assistance they require to be successful.
The team is dedicated to creating an atmosphere where ground-breaking ideas can thrive because they believe in the transformational potential of innovation. The statement was made in the midst of several changes in the Indian logistics industry. CriticaLog India Private Limited, a transportation and logistics firm, was acquired by Shadowfax earlier in the day.
Investors Betting High on Indian Logistic Startups
Evolvence India and Mirabilis Investment Trust led the INR 100 Cr Series C investment round that supply chain and storage startup Emiza concluded on January 27. The AI logistics platform Netradyne secured $90 million in its Series D round last week, backed by its current investor, Point72 Private Investments, making it the first Indian unicorn of 2025.
In general, there is still a solid level of investor interest in the Indian startup scene. A media outlet said that domestic new-age tech firms raised over $12 billion in 2024, a 20% increase from $10 billion in 2023. Last year, the nation’s startup scene also produced six new unicorns.
India’s biotechnology industry is moving towards new leaps and bounds keeping with the pace of global development. The main concentration of the biotech industry is biopharmaceuticals as India is one of the largest manufacturers of generic drugs.
Adar Poonawalla one of the leading businessmen of India and the chief executing officer at Serum Institute of India, the world’s largest vaccine manufacturing company has revolutionized the way of manufacturing drugs and vaccines. Adar Poonawalla is also a big philanthropist, recently featured in Forbes Asia’s heroes list.
The Bishop’s School(Pune), St. Edmund School And University of Westminister (London)
Title
CEO & Chairman of Serum Institute of India
Parents
Cyrus Poonawalla & Villoo Poonawalla
Spouse
Natasha Poonawalla
Net Worth
13.3 Billion USD
Personal Life of Adar Poonawalla
Adar Poonawalla was born in Pune and did his early schooling at the Bishop’s School in Pune. He was then sent to St. Edmunds School, Canterbury where he completed his higher secondary education. To complete his bachelor’s degree in polytechnic he went to the University of Westminster In London. Returning he joined his father’s company.
In 2005 he met Natasha Poonawalla at a New Year party which was hosted by Mr. Vijay Mallya in Goa. The two struck together and fell in love. The couple got married in 2006 and have two children Cyrus and Darius Poonawalla.
Adar Poonawalla with Natasha Poonawalla and his Children
Career of Adar Poonawalla
In 2001, when Adar Graduated from the University of Westminister, London he joined the Serum Institute of India. At that time his company was exporting its products to 35 countries, Adar having the vision to expand the company’s international market he focused upon the licensing of drugs and getting pre-qualified by the World Health Organization (WHO) to supply for United Nations Agencies including UNICEF and PAHO.
In 2011 Adar became the CEO of Serum Institute of India and with sheer will and to make a prominent position in the biopharmaceutical company he acquired Bilthoven Biochemicals, a Netherlands-based government vaccine manufacturing company. He also launched the oral polio vaccine which was the best seller of the company in 2014.
By his reach, he expanded his exports from 35 countries to 140 countries by 2015. Adar also included vaccines for Dengue, Flu, and cervical cancer in its company portfolio. He also acquired Praha Vaccine Limited in 2017.
Adar is not only a member of Serum Institute but also a board member of the GAVI alliance, which stands for the Global Vaccine Alliance. It was a big position to stand in such a short period. He is one of India’s leading and influential people.
About Serum Institute of India
Serum Institute of India is a biotech and biopharma firm. Founded by Mr. Cyrus Poonawalla in 1966 which now is the biggest vaccine manufacturing company in the world in terms of the number of doses. The Company was recognized after they began developing an Intranasal Swine Flu Vaccine in 2009.
The company initially faced many ups and downs but after working under the guidance of Adar Poonawalla company has been recognized all over the world. The products made here include the tuberculosis vaccine Tubervac (BCG), Poliovac for poliomyelitis, and other vaccinations for the childhood vaccination schedule.
Serum Institute is presently providing the Covid-19 vaccines all over the world with the name of Covisheild. It is reported that Serum Institute will provide 100 million doses of the vaccine to India and other low and Middle income developing countries.
Philanthropy work by Adar Poonawalla
Along with being a successful businessman, Adar Poonawalla has been a big philanthropist too. He is one of the leading philanthropists of Pune, also featured in the Forbes philanthropy list of Asia’s Heroes.
Adar established The Villoo Poonawalla Foundation in 2012 in memory of his mother. The main objective was to make top healthcare services affordable to help low-income families.
Along with healthcare, they focus on educational space by educating over 49,000 students through their elementary schools. The chairperson of Villoo Foundation is Natasha Poonawalla.
Adar being in the pharmacy industry knows the value of proper sanitization and cleanliness thus has a goal to enhance the overall quality of life. He has pledged INR 1.5 crores to clean up the Pune city with a fleet of 50 Garbage trucks and a crew of 70 people to complete the job.
Adar Poonawalla Clean city Movement
He has also installed water ATM’s in the city to provide safe drinking water. He donates approximately 20% of the wealth of his income to the Villoo Foundation and has a lot of fame in the Parsi Community for his philanthropy.
Awards & Recognition of Adar Poonawalla
2016: He was awarded the Philanthropist of the year by the GQ magazine.
2017: Humanitarian Endeavour Award in the Hall of Fame Awards and also Indian of the Year in CSR Business Category on CNN-News-18
2018: ET Edge Maharashtra Achievers Awards of Business Leader of the Year which was given by former CM Devendra Fadnavis. Also awarded with CNBC Asia’s award for Corporate Social Responsibility
2021: Entrepreneur of the Year by Economic Times for manufacturing of Covishield
Adar Poonawalla has been a very successful businessman and also a true achiever who is expanding his reach by pure talent and diligence. He has helped the nation to grow and worked towards the economic development of India. Being a drug maker and saving people’s lives with his medicines he is the actual vaccine prince of India.
FAQ
What is the net worth of Adar Poonawalla?
The net worth of Adar Poonawalla is $12 billion.
Who is the father of Adar Poonawalla?
Cyrus S. Poonawalla is the father of Adar Poonawalla.
What is the age of Adar Poonawalla?
Adar Poonawalla was born on 14 January 1981 and is 40 years old.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved bySerum Institute of India.
India has reported more than 19 million cases since the pandemic started, second only to the United States. There have also been over 200,000 deaths recorded. A total of 150 million vaccine shots have been administered, covering 11.5 percent of India’s 1.3 billion population. Serum Institute of India is India’s leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies. Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals
Serum Institute of India Pvt. Ltd. is now the world’s largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide.
Know the complete Success story of Serum Institute and get a glance on on how Serum Institute started, its revenue, business model, its role in Covid-19 vaccine development, competitors & more…
May 2021 – CEO Adar Poonawalla, who has been in the United Kingdom on an extended stay to avoid alleged threats in India over rising demand for COVID-19 vaccines, has announced that he will return in a few days.
Had an excellent meeting with all our partners & stakeholders in the U.K. Meanwhile, pleased to state that COVISHIELD’s production is in full swing in Pune. I look forward to reviewing operations upon my return in a few days.
Serum Institute of India Pvt. Ltd. is now the world’s largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide, including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines.
Serum Institute vaccines are administered to approximately 65 percent of the world’s children. The Serum Institute’s vaccines are approved by the World Health Organization in Geneva and are used in over 170 countries around the world as part of their national immunization programmes, saving millions of lives.
The Serum Institute of India uses cutting-edge technology to scan its goods for minute particles that are undetectable by the naked eye. The inspection is completely automated, with high resolution CCD cameras and an electronic monitored panel, reducing the margins of human error.
Tetanus antitoxin, snake antivenom, DPT vaccine, and MMR vaccine were among the first drugs manufactured in large quantities by the Serum Institute of India. Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company’s product line.
Serum Institute’s mission is to develop high-quality vaccines and make them affordable to a wide range of countries, allowing them to increase their Health Index. The Serum Institute was founded to ensure that vaccines are no longer a privilege for Indian children.
Serum Institute began supplying high-quality, but affordable vaccines to many countries around the world after achieving this aim. International agencies such as the WHO, PATH, NIH, NVI/RIVM, and CBER/USFDA have collaborated with Serum Institute to produce vaccines against Meningococcal A, H1N1 Influenza, Rotavirus, and other diseases.
Serum Institute of India – Name, Logo and Tagline
Serum Institute of India’s tagline says, “Serum – Protection from birth onwards”. The company is the world’s largest vaccine manufacturer and produces vaccines(including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines) that protect people from birth onwards.
Serum Institute Logo
Serum Institute of India – Founder and History
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Founder of SII – Dr. Cyrus Poonawalla
Following that, many life-saving biologicals were produced at reasonable prices and in large quantities, resulting in the country being self-sufficient in Tetanus Anti-toxin and Anti-snake Venom serum, then DTP (Diphtheria, Tetanus, and Pertussis) vaccines, and finally MMR (Measles, Mumps, and Rubella) vaccines.
Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company’s product line. Apart from vaccines, the company also produces antisera, blood plasma, and hormones. The Serum Institute of India’s vaccines has been used in international vaccination programs run by the World Health Organization (WHO), UNICEF, and the Pan American Health Organization as of 2014. (PAHO). The Poonawalla Group now runs the Serum Institute of India, which is involved in research, production, and manufacturing.
In 2009, the company started working on a swine flu vaccine that would be administered intranasally. Bilthoven Biologicals, a pharmaceutical firm in the Netherlands, was the company’s first foreign purchase in 2012.
The Serum Institute of India developed Rabies Human Monoclonal Antibody (RMAb), also known as Rabishield, with help from Mass Biologics of the University of Massachusetts Medical School in the United States.
CEO of SII – Adar Poonawalla
By 2020, the company will have developed 1.5 billion vaccine doses each year, making it the world’s largest vaccine manufacturer by amount of doses produced. Tuberculosis vaccine Tubervac (BCG), poliomyelitis vaccine Poliovac, and other childhood vaccines are among the products created.
Serum Institute of India – Covid 19 Vaccine Development
AstraZeneca, a British-Swedish multinational pharmaceutical firm, has teamed up with Oxford University to grow AZD1222. According to reports, Serum Institute will provide India and other low- and middle-income countries with 100 million (10 crores) vaccine doses.
By the end of 2021, the target had been raised to one billion doses. It’s expected to cost about $3 per dose or around 225 dollars. Trials were suspended by DCGI in September 2020 after a volunteer in Oxford became ill after being vaccinated, but were quickly resumed after British regulators agreed. The Serum Institute of India applied for emergency approval for the vaccine produced with AstraZeneca in December 2020, and it was granted a month later. A deal was reached in March 2021 to supply certain doses to the United Kingdom.
The Serum Institute of India has also agreed to produce Novavax’s NVX-CoV2373 vaccine for India and other low- and middle-income countries. Codagenix’s nasal COVID-19 vaccine CDX-005 will also be manufactured by the company (tradename COVI-VAC)
SII’s net sales in 2018-19 were Rs 5,238 crore, with an after-tax profit of Rs 2,252 crore. The compounded annual growth rate (CAGR) for revenue was 8.1 percent over five years (2014-2019), while the CAGR for profit after tax was 5.3 percent. In 2019, SII’s export earnings accounted for more than two-thirds of its net sales. At the end of 2019, it had total assets of Rs 16,703 crore.
The pharma giant AstraZeneca and the University of Oxford collaborated on the Covid-19 vaccine. Covishield has a 62 percent efficacy rate. The SII has already generated a stock of approximately 5 crore doses. By February, it claims to be able to increase production to 10 crore doses per month.
Serum Institute of India – Investments
Date
Organization Name
Round
Amount
Jul 23, 2019
X-Vax Technology
Series A
$56M
Oct 5, 2017
Visterra
Series C
$23.6M
Serum Institute of India – Acquisitions
Acquiree Name
About Acquire
Date
Amount
Nanotherapeutics
Privately held specialty biopharmaceutical company with product development, cGMP manufacturing capabilities
Biocon, Panacea Biotec, Bharat Serums, Wockhardt, Biological E, Bharat Biotech, Syngene International, Indian Immunologicals, Premas Biotech, Reliance Life Sciences, and Zydus Cadila are among the other leading competitors in Serum Institute’s competitive set.
Cadila Healthcare, India’s fifth largest pharmaceutical firm, is working on an indigenous vaccine for the novel coronavirus in addition to producing Covid treatment drugs like remdesivir. Phase-III trials on 26,000 Indian patients have been approved by the government. The vaccine’s price has yet to be determined by Cadila.
According to Poonawalla, the real challenge in 2020 will be determining if the Covid vaccine will actually function and be effective in humans. It was also difficult to demonstrate its effectiveness and plan a trial in a country where outbreaks are likely to occur, most likely China.
According to the CEO, “Our journey now is looking and has lot of challenges because we are trying to enter the Europe and US markets. We are trying to sensitize the Indian government to take more vaccines and plan and help them in their programmes to fight these life threatening diseases. We have got other challenges from China and other countries where we are offering a red carpet treatment for them to come here, but when we want to go to China, we have got a lot of barriers that we are facing like parting with our technology, we have got to do joint ventures things which are impossible.”
Serum Institute of India – Future Plans
As it struggles to fulfil supply obligations, the Serum Institute of India, which manufactures the AstraZeneca Covid-19 vaccine, is considering starting vaccine manufacturing in other countries.
“There’s going to be an announcement in the next few days,” Adar was quoted.
Poonawalla said the Serum Institute would be able to increase its monthly production to 100 million doses by July, a month later than the previous goal of end-May. Vaccines against Covid-19 have run out in some Indian states.
Within six months, he planned to increase the Serum Institute’s capability from 2.5 billion to 3 billion doses per year. He flew to London until Britain imposed an eight-day travel ban on Indians.
Serum Institute of India – FAQs
What does SII do?
Serum Institute of India is India’s leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies.
Who founded SII?
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Cyrus Poonawalla is an Indian businessman and Philanthropist who is the Chairman of Cyrus Poonawalla Group, which includes the Indian biotech company, Serum Institute of India. He is also known as “vaccine king of India”, because his firm manufactures pediatric vaccines and contributes towards society by providing low-cost vaccines to the masses. As a Philanthropist, he supplied 100 thousand doses of measles vaccines for free vaccination in Ukraine in partnership withan Ukrainian businessman, Naum Koen. As of January 2021, he has an estimated net worth of $11.50 billion.
Cyrus was born in a Parsi family and his father was a horse-breeder. The family had a business of horse racing and they owned the Poonawalla Stud Farms. He is married to Villoo Poonawalla, who died in 2010 due to cardiac arrest. The couple has a son named, Adar Poonawalla, who currently serves as the Chief Executive Officerof Serum Institute of India.
Cyrus Poonawalla – Education
Cyrus completed his elementary education from Bishops School, Pune. He completed his graduation Brihan Maharashtra College of Commerce (BMCC) in 1966. He acquired a PhD in 1988 by Pune University for the thesis named “Improved Technology in the Manufacture of Specific Anti-toxins and its Socio-Economic Impact on the Society.”
Cyrus Poonawalla – Professional Life
At age 20, Cyrus realized that his family business of horse racing had no future ahead. He then started experimenting with cars and built a $120 prototype sports car modeled on the D-type Jaguar along with a friend, however, they did not have enough capital to produce such cars on commercial basis.
He thus dropped the idea and thought of manufacturing cars for masses rather targeting the elite community of society. At that time, horses were donated to Haffkine Institute in Mumbai, a government owned firm that manufactured vaccines using horse serum.
Cyrus Poonawalla – Business idea
Cyrus noted the scope in the serum industry and decided to take upon the challenge of producing vaccines by extracting horse serum. He aimed at availing these vaccines and supplying it across the country at affordable prices.
He raised $12,000 along with his brother Zavaray by selling horses and requested their father to contribute the required capital. In 1966, they eventually established their venture on a 12 acre plot and started manufacturing vaccines.
Cyrus Poonawalla – Cyrus Poonawalla Group
Cyrus founded the Cyrus Poonawalla Group and serves as its Chairman. The biotech firm, Serum Institute of India is also founded by him and it is a portal of the Group. The Cyrus Poonawalla Group of companies deal with pharmaceuticals & biotechnology, finance, clean energy, hospitality & reality, and aviation. The company is headquartered in Pune, India.
The group runs several companies across diverse sectors like, Poonawalla Finance, Bilthoven Biologicals, Poonawalla Aviation, Villoo Poonawalla Greenfield Farms, Poonawalla Clean Energy, Poonawalla Hospitality and Real Estate. The company also runs philanthropic firms like, Villoo Poonawalla Foundation, Adar Poonawalla Clean City Initiative, and Tennis Academy.
Cyrus Poonawalla – Serum Institute of India
Cyrus founded Serum Institute of India (SII) in 1966 with an aim to manufacture life-saving immuno-biologicals in India. The company is recognized as India’s No. 1 biotechnology firm with the world’s largest vaccine manufactured, produced and sold globally.
The company launched its first therapeutic anti-tetanus serum within two years of the establishment. Gradually, they started manufacturing DTP vaccine, Measles vaccine. SII is presently India’s leading Biotech company and is currently exporting vaccines to more than 140 countries across the world.
His son, Adar started serving as the CEO of SII from 2011 and he expanded the business with new licensed and pre-qualified products by the World Health Organization (WHO) to supply it to the United Nations Agencies.
Cyrus Poonawalla – Poonawalla Stud Farms & Horse Racing
The Poonawalla Stud Farms was owned by his late-father and he used to ran house racing and breeding industry. The farm is currently handled by Cyrus and his brother. It is one of the leading stud farm in the country.
He solely represented India at the International Federation of Horse Racing authorities and was a member of the Asian Racing Federation (ARF) for more than 10 years. He held various positions in the horse racing field like, Chairman, Turf Authorities of India, Vice Chairman of Asian Racing Federation, and Royal Western India Turf Club etc.
Nitin Konde
