Monday, 16 May 2022

#startupoftheday 86- Medkart

03 January 2022 | Features

Saving money, saving life

Inception- 2014

Location- Ahmedabad

Domain- Pharmacy

Founders- Ankur Agarwal and Parasharan Chari

Total team strength- 200+

Total funds raised- Rs 40 crore

Investors- Alkemi Growth Capital, Insitor Partners and angel investors including Prashant Poddar and other professionals from UAE and ex-CEO of IIFL Asset management

Revenue generated since inception- NA

 

Key Highlights-

  • An omnichannel pharmacy that empowers people to reduce their medical bills
  • Reduces medical costs by up to 85% and has saved more than 200 crores for its customers till date
  • Won Emerging Icons of Gujarat 2020 by Times of India
  • Received Ahmedabad Entrepreneurs & Excellence Awards 2017
    (Winner of Path Breaking Social Enterprise)
  • Won Best Emerging Healthcare Startup of the Year 2016, by My FM
  • Planning a dominant presence in the western region of the country by having an omnichannel presence across all the states of western India and offline presence in 50+ cities with 500+ retail outlets

 

Founder Speaks-

"Increase in acceptance of the generic medicines in India will be the largest enabler of growth. Currently, the penetration of generic medicines in India is only 5% and the same for developed nations like US is 80%, even for other developing nations like Brazil, the penetration of generic medicines is 23%. Credit should be given to the government for their constant push to increase awareness of generic medicines in the past few years through initiatives like Jan Ausadhi Yojna."

- Ankur Agarwal, Co-founder, Medkart, Ahmedabad

 

L-R- Ankur Agarwal and Parasharan Chari

 

 

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