Mumbai-based healthtech startup PharmEasy has raised $30 Mn (INR 196 Cr) in Series C funding round. The news comes almost a year after it closed its Series B round, wherein the healthtech startup raked in $16 Mn fund.
The development came in soon after Bessemer announced its plans to invest $50 Mn in the Indian healthtech and fintech startups. We could not assess however if the PharmEasy funding is part of the same fund.
As per the source, PharmEasy will use the funds to boost up its geographical expansion and towards deeper penetration into its existing network of 700 cities pan India.
Further, as the company works on a full stack model, a major portion of funds will also be invested in hiring tech talent to work towards strengthening the tech aspects around supply chain, logistics, inventory management and more, in near future.
PharmEasy: The Journey So Far In The Indian Healthtech Domain
Founded in 2015 by Dharmil Sheth and Dr. Dhaval Shah, PharmEasy stands for Pharmacy made easy. The startup is particularly catering to the chronic-care segment and offer a range of services including teleconsultation, medicine delivery, sample collection for diagnostic tests as well as subscription-based service, which is currently live in few cities.