The Hyderabad-based healthcare focused ecommerce portal BookMEDS has raised $100K in seed funding from Fabella Singapore. BookMEDS is being operated under the brand Zibew ECommerce Pvt Ltd.
The startup plans to use the funds raised to drive sales and marketing.
On this development, Mohammed Abubakr, CEO of BookMEDS said, “BookMEDS is revolutionising the whole experience of standing in a line at a medical shop and getting your order filled by someone who may not have even passed high school is about to change.”
“Ecommerce in India is growing tremendously, while the generic ecommerce space is already crowded, niche players like BookMeds are very attractive as they can build on the ecommerce habits Indians are developing” said Krish Datta, founder of Fabella. “The impact BookMeds is going to have as it helps the senior citizens and people who need to purchase medicine regularly is phenomenal, now you can expect the ‘care’ in ‘healthcare’” he said.
The startup was founded by Mohammed Abubakr. The company enables its customers to order prescriptive and non-prescriptive medicines as well as surgical & medical products.
Prior to setting up BookMEDS, Abubakr was associated with Microsoft in a senior engineering role for seven years. Fabella Singapore is an investment firm founded by Krish Datta, former president (Southeast Asia and emerging markets) at SAP.
Many companies like HealthKart, MedPlus and Appollo pharmacy are vying for the piece of that pie.