Image caption- PlatinumRx Founders (L-R) Piyush Kumar and Ashutosh Pandey
Bengaluru-based startup PlatinumRx, an online pharmacy making quality medicines affordable for chronic patients, has raised $6 million in a Series A round led by Stellaris Venture Partners, with participation from existing investor India Quotient.
The fresh capital will be used to scale operations by adding fulfillment centers, building strong teams across product and tech, and strengthening the supply chain and brand presence.
Medicines are the single largest out-of-pocket healthcare expense in India, with more than 70 crore people struggling or skipping treatment due to costs. Despite India being the “pharmacy of the world”, affordability and access remains a major challenge. Nearly all medicines in India are technically generics, but 85% are sold as branded generics with 3-6x markups because of distribution inefficiencies and leakages.
Founded by Ashutosh Pandey and Piyush Kumar, PlatinumRx is making quality medicines accessible to millions of Indians in a transparent, safe, and reliable way. The platform helps customers find substitute brands of medicines with 100% identical salt composition through a strict quality-check process. By sourcing directly from large pharma companies, PlatinumRx ensures savings of 50-60% for patients without compromising on trust or quality.
Piyush Kumar, Co-founder, PlatinumRx said, “At PlatinumRx, we’re focused on helping customers save on essential medicines. Over the next 12–18 months, we aim to serve over a million customers by expanding our reach with five new fulfillment centres, enhancing the customer experience through AI-driven personalisation, and strengthening sourcing efficiencies to deliver even greater value.”
