Hotline: 1800 102 2007
Hotline: 1800 102 2007
Oct, 03 2019

Online pharmacy MetroMedi secures $1.5 mn in seed round

MetroMedi is aiming to offer a wide range of quality nutritional products and expand these offerings to 10 cities in the next ten months.

Online pharmacy MetroMedi secures $1.5 mn in seed round

Hyderabad-based MetroMedi, an online pharmacy and e-health store, has raised $1.5 million in a seed round from TK GP Rao, a high net worth individual, who is also the founder of the TMT Group of industries.

Founded by Dilip C Byra, MetroMedi was started with a mission to deliver 100% genuine medicines to the consumers' doorstep.

Dilip C Byra, Founder and CEO, MetroMedi, said, “We bundle all health-related solutions and assist to improve healthcare segment by our health assistants programme, where personalised assistance is given for every 1,000 customers and to create employment as well, along with health insurance and health  credit.”

“This is very unique and the only platform where health, technology, and fintech bundles together as a unified health platform using ancient wisdom and modern science together in the fast-growing Indian e-commerce market,” he further stated.

Initially, MetroMedi began delivering medicines in Hyderabad. The company then expanded to six more cities, including Bengaluru, Vijayawada, Visakhapatnam, Kakinada, Guntur, and Rajahmundry. 

Besides delivering medicines, the platform helps patients set a reminder to automatically refill medicines, recommends health foods, and also educates users with health tips. 

Dilip added, “Currently, brick and mortar pharmacies are fulfilling only 60 percent of the orders, and most importantly there are 20 percent counterfeit medicines in the Indian market. MetroMedi is delivering genuine medicines and solving the unavailability problem.”

Manikanta Byra, COO of MetroMedi, said, “As of today, MetroMedi fulfills nearly 1000 orders a day, acquires customers at 75 percent less cost than its competitors, has 60 percent monthly repeat customers and is growing at 25 percent month-on-month.”

MetroMedi is aiming to offer a wide range of quality nutritional products and expand these offerings to 10 cities in the next ten months. It is further working on new initiatives for improving the accessibility of healthcare in Tier-III and Tier-IV cities by working with pharmacists and doctors. 

Want to invest in a healthcare franchise? Visit Franchise India 2019, Asia’s Biggest Franchise & Retail Show, and give wings to your entrepreneurial dreams.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Kitchen Appliances / Cookware
    About Us: Sunblaze, a brand corresponding with the supremacy and credibility..
    Locations looking for expansion Haryana
    Establishment year 1992
    Franchising Launch Date 2020
    Investment size Rs. 2lac - 5lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • About Us: The art form of Bharatanatyam inspires us to propagate..
    Locations looking for expansion Karnataka
    Establishment year 2004
    Franchising Launch Date 2020
    Investment size Rs. 10lac - 20lac
    Space required 750
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Juices / Smoothies / Dairy Parlors
    About Us: P:YO - The Micro Juicery was established in 2018..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Competitive Exam Coaching Institute
    About Us: The foundation of MOTION was laid with the establishment..
    Locations looking for expansion Delhi
    Establishment year 2007
    Franchising Launch Date 2020
    Investment size Rs. 50lac - 1 Cr.
    Space required 2500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Delhi
Insta-Subscribe to
Entrepreneur
Magazine
sme-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities