The on-demand delivery healthcare start-up will use the raised capital for expansion, technology upgrade and aggressive marketing
Gurgaon, November 26th, 2015: Pluss, an on-demand medicine and healthcare products delivery service has raised $1 million in pre-Series A funding from IDG Ventures India, m & s partners (Singapore) and Powerhouse Ventures (USA). They ensure timely delivery of medicines and products to the customer’s doorstep. The funding amount will be used to upgrade its technology and technical team, perform aggressive marketing, and establish a presence in 5 cities and pilot new projects.
Based out of Gurgaon, Pluss was incorporated in 2015 by Atit Jain, Madhulika Pandey and Tarun Lawadia after witnessing the country’s largely unorganised health care industry, which is worth billions of dollars. In a country where everything, including groceries and food, is delivered at the doorstep in a short span of time, the problem of timely medicine delivery remained unsolved. Through their own fleet of delivery executives, proudly named as ‘Pluss Men’, Pluss takes the responsibility of fulfilling the orders on time. The team, comprising of licensed pharmacists and trained delivery executives, is equipped to handle medicine properly and make sure that they are delivered with utmost care.
Commenting on this fundraising, Atit Jain, CEO of Pluss said, “We at Pluss prioritize all our activities towards delivering healthcare to our customers in the fastest, easiest and most reliable way possible.. With the help of this funding, we will expand our presence across 5 cities by the end of this year.”
“Pharmacy retail is highly dis-organized in India. The technology platform lends itself with an audit trail and will be better placed to meet the compliances as they evolve. IDGVI is very excited to partner with Pluss to address this huge opportunity” said Ranjith Menon, Executive Director at IDG Ventures India Advisors.
“Pluss has the potential to revolutionize the way Indians receive their medicines. The idea of delivering healthcare products, including medicines, has been around; what is exciting to Powerhouse Ventures is the use of technology to build efficiency, speed, scale, cost reduction and premium customer service in changing the way Indian consumers engage with the healthcare landscape. More importantly, Atit, Madhulika and Tarun bring the right blend of strategic, marketing and technical competencies to put traditional consumer-pharmacy behaviours to the test. Pluss fits perfectly into our expanding healthcare portfolio” said Sri Peddu, Managing Director at Powerhouse Ventures.
“We strongly believe that people need this service for sure and that Pluss team is the best one which can execute its service with quality and speed!”, says Founder/Director of m & s partners (Singapore).
The app subscriber base has grown more than 50% month on month and has tripled in the last 3 months. The app order volume has grown 4 times since September with peak traffic of 500 orders per day. By the end of this year it plans to add a lot more to its product categories, including Medical Tests and Surgical Equipment. With the health products market expected to grow at a CAGR of 15% and touch $158.2 Billion in 2017, Pluss has placed a bet on hyper local delivery, envisioning emerging as India’s reigning name in the healthcare sector.