In one of the recent fundraising event, online pharmaceutical and lab aggregator firm Aermed raised an undisclosed amount through Angel funding. Series A funding was led by Hitesh Windlass, CEO of Windlass Healthcare with a focus to use the funds for chronic patients.
The seed funding included other investors such as private equity firm from Boston, a global investment bank from New York. The funds will be used for reviving the technology and customer acquisition along with development by setting additional hubs, a monetary resource for the back-end, augmenting logistics and building infrastructure. The seed funding would further support the firm to outreach public thus filling in major requirements for the online pharmacy.
Run by HX Wellness Pvt Ltd; the company claims to have enrolled as many as 2,500 customers with a comeback rate of 80%. It allows the users to place orders through websites, app, Whatsapp, call, only after they have subscribed themselves to the website. It further helps them to keep track of the customers’ medical condition, as well as, store in the medical bills according to the history.Launched in January 2016, Aermed has been founded byNaishadh Sutaria (IIT Delhi alumni), Aayush Jindal (IIT Calcutta alumni), Nandit Pathak (ex-employee of Unilever) and Ashish Prakash 9ex-employee of Sentio).
At present, medical and pharmaceutical online startup firms have attracted many venture capitalists eventually coming ahead for fundraising. The rise of chronic medicines up to10 million USD has supported many such startup firms to come forward in the competitive market thus contributing in an ever growing compound interest rate of 15% to 17%.