Total amount raised
$103.7 Million
Latest funding date
09/01/2018
Location
Netmeds has successfully navigated four funding rounds, with its latest being a Series C round. The platform has garnered the support of notable investors, including Tanncam Investment and Daun Penh Cambodia Group.
Keep reading to explore the intricacies of Netmeds' fundraising journey and the investors backing this innovative platform.
What Is Netmeds?
Netmeds, headquartered in Chennai, Tamil Nadu, India, is a prominent player in the e-commerce, health care, and pharmaceutical industries. The company operates as an online pharmacy, offering a wide range of health and wellness products, including prescription medicines, over-the-counter drugs, beauty products, and lab tests.
Founded with the vision of becoming India's most convenient pharmacy, Netmeds has grown significantly, employing between 501-1000 people. The platform provides services like prescription upload for easy ordering and membership benefits, ensuring quality and convenience for its customers.
How Much Funding Has Netmeds Raised?
- Series A
- Amount Raised: USD 50,000,000
- Date: October 2015
- Lead Investors: OrbiMed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Series Unknown
- Amount Raised: INR 300,000,000
- Date: May 2015
- Lead Investors: MAPE Advisory Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and market entry.
- Series B
- Amount Raised: USD 14,000,000
- Date: October 2017
- Lead Investors: Sistema Asia Capital, Tanncam Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance customer experience and expand fulfillment capabilities.
- Series C
- Amount Raised: USD 35,000,000
- Date: September 2018
- Lead Investors: Daun Penh Cambodia Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase awareness through marketing and enhance customer experience by expediting deliveries.
Total Amount Raised: USD 99,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Daun Penh Cambodia Group
- Details: A Southeast Asian investment group that became an equity stakeholder in Netmeds during the Series C funding round. They focus on equity investments in promising companies in Southeast Asia.
- Investment Focus Areas: Infrastructure development, trading of high-quality medicines.
- Notable Investments: Netmeds.
- Sistema Asia Capital
- Details: A Singapore-based venture capitalist firm that participated in the Series C funding round and had previously invested alongside Tanncam Investment in October 2017. They focus on investments in technology and high-growth sectors in Asia.
- Investment Focus Areas: Technology, high-growth sectors.
- Notable Investments: Netmeds.
- Tanncam Investment
- Details: A Cambodian investment holding company that participated in the Series C funding round and had previously invested $14 million in October 2017. They focus on investment opportunities in various sectors, including healthcare and technology, primarily in Cambodia and Southeast Asia.
- Investment Focus Areas: Healthcare, technology.
- Notable Investments: Netmeds.
- OrbiMed
- Details: The first investor in Netmeds, having invested $50 million in the startup in 2015. OrbiMed specializes in healthcare investments, including pharmaceuticals, biotechnology, and medical devices.
- Investment Focus Areas: Pharmaceuticals, biotechnology, medical devices.
- Notable Investments: Netmeds.
- MAPE Advisory Group
- Details: An investment advisory firm that supported Netmeds during its initial growth phase. They focus on providing strategic and financial advisory services to companies in various sectors.
- Investment Focus Areas: Strategic advisory, financial advisory.
- Notable Investments: Netmeds.
What's Next for Netmeds?
Netmeds stands at the cusp of significant growth opportunities. With a recent infusion of $35 million, the company is poised to expand its marketing efforts and enhance customer experience by increasing stock and fulfillment centers. This expansion aims to make quality medication more accessible and affordable across India, tapping into a growing market for online pharmacies.
Future fundraising opportunities seem promising as Netmeds continues to grow and attract international investors. The competitive landscape, marked by players like 1mg and Pharmeasy, suggests that additional funding rounds may be necessary to maintain and expand market share. The company’s ability to sustain double-digit month-on-month growth will be crucial in securing further investments.
However, Netmeds faces challenges such as regulatory compliance and intense competition. Ensuring the authenticity and quality of medications while expanding rapidly will be critical. Navigating these hurdles will determine the company's ability to capitalize on the burgeoning online pharmacy market in India.
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