With the help of several well-known angel investors, healthcare startup PlatinumRx has raised $800,000 in a seed round led by India Quotient.
According to a press release, PlatinumRx intends to use the money to expand its product offerings, strengthen its nationwide footprint, and expand its warehousing and distribution network.
Ashutosh Pandey and Piyush Kumar founded PlatinumRx intending to revolutionize the way chronic patients obtain necessary prescriptions by selecting and providing alternatives from leading manufacturers such as Abbott, Cipla, Alkem, and so forth. With the same salt, strength, and efficacy as the original medication, PlatinumRx assists customers in locating an exact replacement.
In Bengaluru, PlatinumRx offers same-day delivery to over 20,000 pincodes and delivers within two to three days. Along with these partnerships, the electronic city is home to numerous rehab facilities and senior living facilities.
“With rising diabetes and blood pressure-related ailments, coupled with soaring monthly medicine expenses, cost reduction for all chronic illnesses without compromising efficacy is crucial,” said Gagan Goyal, General Partner at India Quotient.
Anand Lunia and Madhukar Sinha founded India Quotient in 2012, and in February 2021 they unveiled their fourth fund, valued at $80 million. Among the companies in its portfolio are WebEngage, Dhiwise, Vyapar, Pagarbook, Fleetx, Powerplay, Brands.live, and GoComet.
