Online pharmacy Netmeds raises Rs 247 cr

October 10, 2018 0 By CH Unnikrishnan

Online pharmacy Netmeds has raised $35 million (Rs 247 crore) from Southeast Asian business group Daun Penh Cambodia Group based in Singapore, a company statement said.

Existing investors Sistema Asia Fund, the venture capital fund of Russian conglomerate Sistema JSFC, and Tanncam Investment, a Cambodian investment holding company, also put in money in this round, the statement added.

Netmeds is planning to use the new funds to increase awareness through marketing efforts as well as to enhance customer experience, reports said, quoting company sources.

The company had, in October last year, raised $14 million from Tanncam and Sistema Asia Fund.

Promoted by Dadha & Company, Netmeds provides a wide range of medicines listed under various categories, along with OTC products including wellness products, vitamins, diet/fitness supplements, herbal products, pain relievers, diabetic care kits, baby/mother care products, beauty care products and surgical supplies.