Total amount raised
$3.7 Million
Latest funding date
09/01/2019
Location
Pharmarack has successfully raised funding over two rounds, with the latest being a Series A. The company is backed by four investors, including Unicorn India Ventures and IvyCap Ventures.
As India's largest integrated B2B healthcare tech platform, Pharmarack offers a range of solutions designed to digitize interactions across the pharma supply chain. Keep reading to explore the intricacies of Pharmarack's fundraising journey and the investors backing this innovative platform.
What Is Pharmarack?
Pharmarack, based in Pune, Maharashtra, India, is the largest B2B healthcare network in the country. The company operates in the B2B, Health Care, Information Technology, and Pharmaceutical industries.
Founded with the mission to digitize the pharma supply chain, Pharmarack employs between 101 and 250 people. The platform offers a range of solutions, including SaaS, delivery enablement, financing, market access, analytics, and digital solutions, serving various customer segments such as pharmacies, distributors, and public health enterprises.
How Much Funding Has Pharmarack Raised?
- Seed Round
- Amount Raised: USD 700,000
- Date: September 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage development and operations.
- Series A
- Amount Raised: USD 3,000,000
- Date: September 2019
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To broaden product offerings and scale operations across the country.
Total Amount Raised: USD 3,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is a venture capital firm founded by Vikram Singh. It led Pharmarack's Series A funding round.
- Investment Focus Areas: High-growth startups across various sectors.
- Notable Investments: Not publicly disclosed.
- Unicorn India Ventures
- Details: Unicorn India Ventures is an early-stage investment firm. It participated in Pharmarack’s angel funding round.
- Investment Focus Areas: Technology-driven startups.
- Notable Investments: Not publicly disclosed.
- Patni Group’s Currae Healthtech Fund
- Details: Patni Group’s Currae Healthtech Fund is an investment fund focused on healthtech. It participated in Pharmarack’s Pre-Series A funding round in 2016.
- Investment Focus Areas: Healthtech and related sectors.
- Notable Investments: Not publicly disclosed.
What's Next for Pharmarack?
Pharmarack stands at the cusp of significant growth opportunities. With the healthtech ecosystem booming, particularly in epharmacies and telemedicine, the company is well-positioned to expand its product offerings and scale operations nationwide. The platform's ability to process INR 50 Cr worth of transactions each month underscores the vast potential for growth.
Future fundraising seems likely as Pharmarack continues to broaden its reach and enhance its pharmaceutical supply chain network. The ongoing expansion efforts suggest that additional funding rounds could be on the horizon to support these ambitious plans.
However, challenges such as competition from other healthtech startups and managing the complexities of logistics and supply chain as they scale could pose hurdles. Ensuring the availability and pricing of healthcare products will be crucial as they navigate these challenges.
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