Delhi-based online pharmacy Aermed has raised an undisclosed amount of seed funding in a round led by Hitesh Windlass, CEO of Windlas Healthcare. Other investors in this round included angels working at Boston-based Private equity firm and a New York based global Investment bank.
Founded in 2015 by Ashish Prakash, Nandit Pathak, Aayush Jindal, and Naishadh Sutaria the startup was bootstrapped until now. It is an online pharmacy store that allows users to order medicines online. Customers can place their orders either through the website, the app, over phone, and also by dropping a message on Whatsapp.
Apart from medicine home delivery, automatic refills & dosage alerts, Aermed also allows for home pickup of lab tests samples & e-reports. The app also lets the users maintain electronic health records, all at one place.
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As per a company statement, Aermed has so far enrolled about 2,500 customers on subscription, and has maintained 80%+ repeat-use rates. Aermed helps customers store and track their medical records in a user-friendly application helping make prescription compliance very convenient.
The startup currently operates in Delhi NCR, and as per the founders the new tranche of funds will be used in marketing and development, setting up additional hubs, and making the tech team more robust to handle more traffic on the site.
On an average, the startup claims to receive around 100+ orders a day with an average order value of INR 1,700-INR 1,800. “We have also built an automated & scalable supply chain network which includes real time inventory sharing with our suppliers and enables us to reach a 100% fulfillment rate of orders”, said Naishadh Sutaria, co-founder of Aermed.
The healthcare market in India is expected to reach $280 Bn by 2020 at a CAGR of 22.9%. Earlier in March 2016, online medicine delivery platform, eSwasthya.in raised an undisclosed amount of angel funding from Lothal Angel Ventures. Other players in this segment include Medfinder, 1mg, Pharmeasy, MyMedisyn, Medist, and Mera Medicare.