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Gurgaon-based on-demand delivery startup for medicine, healthcare and wellness products, Pluss, has raised $1 Mn in Pre-Series A round of funding led by IDG Ventures India, M & S partners (Singapore) and Powerhouse Ventures (USA).
The startup will use the raised capital for expansion into 5 cities, technology upgrade and marketing.
Founded in 2015 by Gigstart founders – Atit Jain, Madhulika Pandey and Tarun Lawadia, Pluss is an on-demand medicine delivery service that facilitates placing orders through calls, Whatsapp or the Pluss website. In addition to delivering medicines, Pluss also offers baby care, pet care, personal wellness and daily essential products. Pluss manages delivery via its own fleet of delivery executives – ‘Pluss Men’.
Pluss claims that its subscriber base has grown more than 50% month-on-month and has tripled in the last 3 months. Also, the app order volume has grown 4 times since September with traffic of 500 orders per day. By the end of this year, the startup plans to add more product categories, including Medical Tests and Surgical Equipment.
Commenting on the development, Ranjith Menon, Executive Director at IDG Ventures India Advisors said, “Pharmacy retail is highly dis-organized in India. The technology platform lends itself with an audit trail and will be better placed to meet the compliances as they evolve.”
“The idea of delivering healthcare products, including medicines, has been around; what is exciting to Powerhouse Ventures is the use of technology to build efficiency, speed, scale, cost reduction and premium customer service in changing the way Indian consumers engage with the healthcare landscape. Pluss fits perfectly into our expanding healthcare portfolio” said Peddu, Managing Director at Powerhouse Ventures.
The health products market is expected to grow at a CAGR of 15% and touch $158.2 Bn in 2017.
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