MEDdelivery, a B2B pharma-tech startup, has raised around $1 million in a new round from investors such as FAAD Network, Auxano Entrepreneur Trust, Lets Venture, Kisho Capital, Venture Garage and marquee angels.
Co-founded by Aastha Dusad, Rahul Gautam and Rohit Bafna, MEDdelivery acts as a single value chain between pharma companies, stockists and medical shops. It helps local medical shops procure supplies from hyperlocal wholesale markets.
The Jaipur-based startup claims to offer a wide ranging catalog of over 1 million SKU’s from over 10,000 different pharmaceutical brands and delivered to pharmacies twice a day.
Currently operating in over 8 cities with more than 3,000 retail pharmacies using its platform to procure supply, the startup plans to expand its reach in over 100 non-metro cities in the upcoming 18-24 months.
According to the company, its annualized gross merchandise volume has a mark of over Rs 48 crore by catering to small retail pharmacies in Jaipur.