How Much Did Saveo Raise? Funding & Key Investors

Saveo has successfully raised funding over three rounds, with participation from 37 investors, including notable names like Matrix Partners India and Jetty Ventures. The company operates a B2B managed marketplace for pharmacies, collaborating with over 500 pharmaceutical companies to offer a comprehensive range of medicines.

Keep reading to explore the intricacies of Saveo's fundraising journey and the investors backing this innovative platform.

What Is Saveo?

Saveo is a healthtech company based in Bengaluru, Karnataka, India. It operates a B2B managed marketplace for pharmacies, collaborating with over 500 pharmaceutical companies to offer a comprehensive range of medicines. The company positions itself as a major player in the pharmaceutical distribution industry.

Founded as a private entity, Saveo has grown to employ between 101-250 people. The company has successfully raised funding through seed rounds and has acquired ShuttrStores. Saveo is funded by 37 investors, including Z47 and Jetty Ventures.

How Much Funding Has Saveo Raised?

1. Amount Raised: $3.5 million
   • Date: March 2020
   • Lead Investors: First Cheque, India Quotient
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the initial development and market research.
2. Amount Raised: $4 million
   • Date: January 2021
   • Lead Investors: RTP Global, Z47
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate growth and expand footprint across the country.
3. Amount Raised: $3.5 million
   • Date: September 2022
   • Lead Investors: 4point0 Health Ventures, Gunosy Capital, Jetty Ventures, LC Nueva Investment Partners, Venture Catalysts, Z47
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand geographical footprint and adopt advanced solutions to build a full-stack tech platform.

Total Amount Raised: $11 million. Current Valuation: $50 million.

Key Investors

• Matrix Partners
  • Details: Matrix Partners is a venture capital firm that invests in early-stage companies. They have a strong presence in the technology and healthcare sectors.
  • Investment Focus Areas: Technology, healthcare, consumer sectors
  • Notable Investments: Quikr, Practo, Ola
• Gunosy Capital
  • Details: Gunosy Capital is the venture capital arm of Gunosy Inc., a Japanese news app company. They focus on technology and media startups.
  • Investment Focus Areas: Technology, media, digital sectors
  • Notable Investments: Gunosy, SmartNews
• 4point0 Health Ventures
  • Details: 4point0 Health Ventures is a venture capital firm specializing in healthcare technology and services. They aim to support innovative healthtech startups.
  • Investment Focus Areas: Healthcare technology, medical services, life sciences
  • Notable Investments: Not specified
• RTP Global
  • Details: RTP Global is a global venture capital firm that invests in early-stage technology companies. They have a diverse portfolio across various sectors.
  • Investment Focus Areas: Technology, internet, consumer sectors
  • Notable Investments: Delivery Hero, Yandex, Cred
• India Quotient
  • Details: India Quotient is a venture capital firm focusing on early-stage consumer and technology startups in India. They aim to support innovative and scalable business models.
  • Investment Focus Areas: Consumer startups, technology, early-stage investments
  • Notable Investments: ShareChat, Lendingkart, Sugar Cosmetics

What's Next for Saveo?

Saveo is poised to capitalize on the burgeoning B2B e-commerce market in India, particularly within the pharmaceutical sector. With plans to expand its geographical footprint and enhance its technology platform, the company aims to establish new hubs and convert quality suppliers into dark stores. This strategy aligns with the growing demand for efficient procurement solutions and the increasing digitization of the healthcare supply chain.

Given the competitive landscape and the presence of other well-funded companies, Saveo is likely to pursue additional funding rounds to support its ambitious growth plans. The company's previous successful funding rounds and strong investor interest suggest a positive outlook for future fundraising. However, Saveo will need to navigate challenges such as intense competition, regulatory hurdles, and the need to continuously innovate to stay ahead in the market.

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