Pharma

B2B E-commerce Pharmacies Marketplace Gets $ 4Mn Funding

funding health

Bengaluru-based Saveo Healthtech Pvt Ltd, a B2B E-commerce marketplace for pharmacies, has secured a $ 4 million seed round co-led by Matrix Partners India and RTP Global, with participation from Incubate Fund and India Quotient. The company said in a statement that it plans to utilise fresh funding to penetrate deeper into existing geographies, expand to new territories along with upscaling the full-stack tech platform.

Saveo is currently serving 2,000-plus pharmacies across Bengaluru and 3,000-plus pharmacies across Karnataka and looking to capture 1,00,000-plus pharmacies across India in the next 18 months spread across 100-plus cities in the country.

Also read: AliveCor raises $65 mn in series E funding

Founded in August 2019 by experienced IIT Graduates Amit Kumar, Anurag Savarnya, Shivansh Shrivastava and Vivek Jaiswal, Saveo is a B2B managed marketplace for Indian pharmacies providing a single procurement point for all possible medicines (allopathy, generics, surgical, ayurvedic, OTC, Specialty), bringing uniformity in service & margin and digitising them to run, learn and grow their business on the app.

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