B2B pharma distribution startup Fundly.ai raises $4 M from Accel, Multiply

In a funding round headed by current investors Accel and Multiply Ventures, as well as participation from former RBL Bank executive director Rajeev Ahuja and other angel investors, Mumbai-based B2B drug distribution firm Fundly.ai has raised $4 million.

Additionally, the business raised about $0.9 million in venture capital.

Its digital commerce, payments, and credit services will be expanded throughout India’s pharmaceutical supply chain with the help of the new funding.

Fundly.ai was first established in 2021 by Amit Chawla and Shreeram Ramanathan as a supply-chain finance platform for pharmaceutical companies. Since then, it has grown into three domains: embedded credit, payments and settlement infrastructure, and business-to-business commerce.

With a single technological platform, Fundly seeks to assist pharmaceutical distributors and retailers in managing working capital, payments, and procurement.

The most recent investment expands upon Fundly.ai’s previous $3 million seed funding in 2023, which was also headed by Accel and included angel investors and Multiply Ventures.