Zeelab Pharmacy Bags $2.4 Mn To Expand Retail Network

Zeelab Pharmacy Bags $2.4 Mn To Expand Retail Network

SUMMARY

Zeelab Pharmacy raised $2.4 Mn (around INR 21.7 Cr) in its maiden funding round from by OTP Ventures

The company will deploy the fresh proceeds to expand its retail network and further develop a 60-minute delivery service

Zeelab Pharmacy sources medicines from a network of over 2,500  stores and delivers medicines ensuring access and convenience

Healthcare-focused omnichannel startup Zeelab Pharmacy has reportedly raised $2.4 Mn (around INR 21.7 Cr) in its maiden funding round led by OTP Ventures.

As per ET, the Delhi-based company will deploy the fresh proceeds to expand its retail network and further develop a 60-minute delivery service across metro and non metro cities.

Founded in 2020 by Rohit Mukul, Zeelab Pharmacy sources medicines from a network of over 2,500  stores and delivers medicines ensuring access and convenience. The company claims to further expand its operations in tier II cities.

“This funding will serve as a catalyst for our growth plans, enabling us to entrench our retail presence further, bolster our delivery infrastructure, and fortify our omnichannel ecosystem. We believe this partnership will be instrumental in propelling our mission forward and creating a more inclusive and equitable healthcare ecosystem in India,” Mukul was quoted as saying in the report.

In healthcare it competes with the likes of Medkart, PharmEasy, Apollo Pharmacy and Netmeds among others.

The healthcare space has seen a host of developments recently.

For instance, two days ago four cofounders of online pharmacy PharmEasy – Dharmil Sheth, Dhaval Shah, Hardik Dedhia and Harsh Parekh stepped down from their executive roles at the startup

In August last year, healthcare financing startup HealthCRED raised $1.2 Mn in a seed funding round co-led by venture capital firms Antler India, TRTL VC and iSeedVC.

Similarly in July 2024, healthcare startup Icanheal raised INR 15 Cr in a seed funding round led by IvyCap Ventures.

According to Inc42’s ‘The State Of Indian Startup Ecosystem Report‘, healthtech startups raised a little over $7 Bn between 2014 and H1 2024 in 886 deals. 

In comparison, the cumulative funding raised by Indian startups during this period crossed the $150 Bn mark across 10,500 deals

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Zeelab Pharmacy Bags $2.4 Mn To Expand Retail Network-Inc42 Media
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