Gets Backing From Lothal Angel Ventures


16 March, 2016, Ahmedabad: Online medicine delivery startup, gets the backing from Lothal Angel Ventures. The company has acquired an undisclosed amount of funding from the investors. Currently, company operates from three cities Ahmedabad, Baroda and Nashik.

Founded by Yash Shah in 2014, the company had acquired funding from UT Rao, Chairman, MICA incubator and Rupesh Vasani, Dean of Gujarat Technological University (GTU) in its previous funding round.

Sharing his views about the investment, Manasvi Thapar, Co-Founder, Lothal Angel Ventures said, “With rising demand for accessible healthcare, it’s worth investing in healthcare start-up segment. Healthcare segment is ever green segment when it comes to getting customers.”

The company plans to utilise funds in expanding its reach to cover the entire state of Gujarat and apart from that, it will also be venturing in other cities such as Mumbai and Pune. In addition to medicines, offers various pathological services, homecare and hospital-based surgical items, health checkups, gym and salon services on its platform.

Significantly, in past couple of months, numerous online pharmacies have spread its presence in the wellness space and some of them have attracted significant funding from investors, even though the Drug Controller General of India (DGCI) has put a strict vigil on online medicines sale, reports wellnessindia.