Online pharma aggregator Netmeds.com, has raised about R325 Cr ($50 Mn) from healthcare focused mid-stage PE firm OrbiMed. The round also saw the participation from Pradeep Dadha Group and boutique investment bank MAPE Advisory Group. The proceeds will be use for back-end development, developing its supply chain management system, building brand awareness, amongst others. The venture is launched by Chennai-based businessman Pradeep Dadha and is a fully licensed pharmacy marketplace that offers authenticated prescription and over the counter medicine along with other health products. The startup claims to provide, both, prescription and non-prescription drugs and products, supplying over 50,000 stock keeping units across the country from its first operational hub in Chennai. It offers an option to upload the prescription online and ordering medicine through its mobile app on iOS and Android smartphones. The company sells medicines across 300 cities and claims to delivers the medicines in three-four working days.
Source: dealcurry.comOrbiMed Invests In Online Pharmacy Startup NetMeds Marketplace
Industry: Pharmaceutical 2015-11-24