Netmeds pharmacy

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The c ontent in this post has been a pproved by Netmeds. The e-commerce industry has garnered immense popularity in India in a really short span of time. It has allured the younger generation specifically. Consumers have become choice-savvy because online retail has redefined the concept of the shopping catalog; there are thousands of search results for every item you could possibly imagine. Why should medicines be left out when everything, from apparel to real estate, can be purchased online? Medicines have long been a market dominated by unorganized players that were distanced from the online business concepts. However, it is with the emergence of medicine eCommerce that the problems of shopping for medicines from traditional physical stores are likely to be alleviated. Netmeds, a Chennai-based company, is one of the promising medicine eCommerce service-based companies that are here to help you through its online pharmacy. StartupTalky covers the success story of Netmeds — 'India ki Pharmacy' — in this post. Know all about how Netmeds works, its revenue model, funding, founder, owner, business model, startup challenges & more. Netmeds- Company Highlights Startup Name Netmeds Headquarters Founder Pradeep Dadha Sector Founded 2010 Revenue $1.03 mn (Rs 7.7 crore in FY20) Total Funding $99 mn (January 2022) Valuation $125 million (September 2021) Parent O...

Overnight the Indian online pharmacy space has seen a major overhaul. Putting to end months of speculation, Reliance Retail officially announced its acquisition of Netmeds while leading startups PharmEasy and MedLife headed for a merger. Reliance bolsters up retail with Netmeds Reliance Retail acquired Netmeds for a cash consideration of ₹620 crore. The five-year old startup had raised investments worth $100 million so far. With the acquisition, Reliance Retail takes up a 60% stake in Netmeds’ parent company Vitalic and a 100% stake in its subsidiaries Tresara Health Private Limited, Netmeds Market Place Limited and Dadha Pharma Distribution Pvt Limited. “The addition of Netmeds enhances Reliance Retail’s ability to provide good quality and affordable health care products and services, and also broadens its digital commerce proposition to include most daily essential needs of consumers. We are impressed by Netmeds’ journey to build a nationwide digital franchise in such a short time and are confident of accelerating it with our investment and partnership,” said Isha Ambani, Director, RRVL in a statement. PharmEasy and MedLife's merged entity to be valued at over $1 billion Another big movement in the healthtech space was PharmEasy and MedLife moving the CCI for their merger. MedLife will be selling all of its operations to PharmEasy, for an almost 20% stake in the latter. According to an The Mumbai-based PharmEasy offers medicine delivery and home diagnostic tests across...

BENGALURU: Netmeds, which started operations in 2015, has till date announced three rounds of funding totalling about $100 million. The company was started by Pradeep Dadha, whose family was one of the first distributors for Sun Pharmaceuticals. The distribution business was later acquired by Sun Pharma. Besides Dadha’s family office, the Netmeds backers include healthcare investor OrbiMed, investment bank MAPE Advisory, Sistema Asia Fund and Singapore-based Daun Penh Cambodia Group. “As a policy, we do not comment on media speculation and rumours. Our company evaluates various opportunities on an ongoing basis,” said a Reliance spokesperson, adding that it will inform exchanges according to Sebi on any developments. “It would not be productive to comment on media speculations at this stage,” said Dadha in an emailed response, while adding that Netmeds has tied up with The conversations between Reliance and Netmeds, which had also held talks with Walmart-owned Flipkart, had been going on before the coronavirus lockdown, sources said. This will be the second major move by Reliance in the pharma sector as last year it acquired 82% in Bengaluru-based C-Square Info Solutions, which makes software for distributors, retailers and sales force in the pharma sector, for a total of Rs 82 crore. Some of the clients of the company include Apollo Pharmacy, Adcock Ingram and other players. The development comes as Reliance is ramping up it’s online-to-offline (O2O) commerce business, fi...