Total amount raised
₹593.8 Millions
Latest funding date
09/01/2022
Location
Saveo has successfully raised significant funding over multiple rounds, achieving a valuation of $50 million. The platform operates as a B2B managed marketplace for pharmacies, aiming to build a reliable and efficient healthcare supply chain.
With backing from 37 investors, including Matrix Partners India and Jetty Ventures, Saveo is positioned as a major pharmaceutical distributor. Keep reading to explore the intricacies of Saveo's fundraising journey and the investors backing this innovative platform.
What Is Saveo?
Saveo, founded in 2019, is a healthtech company based in Bengaluru, Karnataka, India. The company was established by Amit Kumar, Anurag Savarnya, Shivansh Shrivastava, and Vivek Jaiswal.
Saveo operates a B2B managed marketplace for pharmacies, aiming to create a reliable and efficient healthcare supply chain. The platform empowers traditional pharmacies by making healthcare delivery more accessible and affordable.
With a workforce of 101-250 employees, Saveo continues to grow and expand its reach in the pharmaceutical distribution sector.
How Much Funding Has Saveo Raised?
- Seed Round
- Amount Raised: ₹20M
- Date: March 2020
- Lead Investors: First Cheque, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial development and market entry.
- Seed Round
- Amount Raised: ₹290M
- Date: January 2021
- Lead Investors: RTP Global, Z47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance platform capabilities.
- Seed Round
- Amount Raised: ₹283.8M
- Date: September 2022
- Lead Investors: 4point0 Health Ventures, Gunosy Capital, Jetty Ventures, LC Nueva Investment Partners, Z47
- Valuation at Round: $50 million
- Motivation Behind the Round: To expand geographical footprint and enhance the tech platform.
Total Amount Raised: ₹593.8M
Current Valuation: $50 million
Key Investors
- Matrix Partners
- Details: Matrix Partners is a venture capital firm that invests in early-stage companies across various sectors. They have a strong presence in the technology and healthcare industries.
- Investment Focus Areas: Technology, healthcare, consumer services.
- Notable Investments: Ola, Practo, Quikr.
- Gunosy Capital
- Details: Gunosy Capital is the venture capital arm of Gunosy Inc., focusing on technology and media sectors. They aim to support innovative startups with high growth potential.
- Investment Focus Areas: Technology, media.
- Notable Investments: Gunosy (news app in Japan).
- 4point0 Health Ventures
- Details: 4point0 Health Ventures is a venture capital firm specializing in healthcare technology. They focus on early-stage investments in healthtech startups.
- Investment Focus Areas: Healthcare technology.
- Notable Investments: Specific investments not mentioned.
- RTP Global
- Details: RTP Global is a venture capital firm that invests in early-stage technology companies globally. They have a diverse portfolio across various tech sectors.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Delivery Hero, Yandex, Cred.
- India Quotient
- Details: India Quotient is a venture capital firm that focuses on early-stage consumer technology and internet companies in India. They aim to support innovative startups with disruptive potential.
- Investment Focus Areas: Consumer technology, internet, fintech.
- Notable Investments: ShareChat, Lendingkart, Sugar Cosmetics.
What's Next for Saveo?
Saveo is poised to capitalize on the burgeoning healthtech market in India, with plans to expand its geographical footprint and enhance its technology platform. The company aims to penetrate deeper into existing markets and establish new hubs, leveraging the projected growth of the Indian healthtech market to $21 billion by 2025.
Given the strong investor interest and the competitive landscape, Saveo is likely to attract further investments to support its ambitious expansion plans. The company’s recent successful funding rounds indicate a promising future for additional fundraising opportunities.
However, Saveo will need to navigate challenges such as intense competition from other B2B pharma marketplaces and managing operational losses. Ensuring scalability and maintaining service quality while expanding will be crucial for the company’s sustained growth.
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