The company will utilise the funding to build the team, develop the product further and scale the app across India
Medbikri, a unique app-first inventory management solution, has raised $650,000 in the pre-seed funding round. The pre-seed round was led by 3one4 Capital, other investors include Siddharth Ahluwalia (Founder, 100X Entrepreneur), Tej Kapoor (Managing Partner, IvyCap), Sanjeev Barnwal and Vidit Atrey (Founders, Meesho), Saurabh Agarwal and Manish Jethani (Co-Founders, Hevo Technologies), Rahul Sharma (Co-Founder, Zetwerk), Amit Damani (Founder, StayVista), and Viren Prasad Shetty (Executive Vice Chairman, Narayana Health), among others.
The Medbikri app, available to pharmacies across the country for free, allows them to update their inventory easily and simply by uploading photos of the purchase bills, recording sales and sending e-invoices and prescription refill reminders to customers. The company will utilise the funding to build the team, develop the product further and scale the app across India. Medbikri aims to onboard 50,000 chemists/ pharmacists, across UP, MP, Bihar, Jharkhand, Delhi and Karnataka, in the first six months.
Chushul Suri, Founder and CEO, Medbikri, said, ‘’Historically in India, a pharmacy has been the first major touchpoint in a patient’s healthcare journey. Local pharmacists typically know the patients and their medical history, are trusted by them and are available within 5-10 minutes from their homes. Medbikri aims to convert the pharmacies into e-clinics, which will enable them to offer customers doctor consultations, diagnostic tests and other basic procedures. This benefits patients as they will no longer need to travel long distances and endure protracted wait times at faraway hospitals and clinics to get treated. We also plan to solve pharmacies’ working capital, GST and medicine procurement issues, in addition to giving them access to a new D2C brand supply.”
“Medbikri is solving the healthcare infrastructure problem for the lower-tier cities by taking an asset-light approach which makes it viable as well as scalable. The team has showcased superb execution and know-how of the Indian SMBs and we are super excited to be a part of this journey,” said Anurag Ramdasan, Partner, 3one4 Capital.