Startup Originals Team
Mumbai-based e-pharmacy and telehealth platform Truemeds has just raised a remarkable $85million in Series C funding, signaling a new growth phase for one of India’s fastest-expanding chronic care solutions. The round was led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures. The funding will supercharge Truemeds’ reach into underserved non-metro regions, aiming to triple its national footprint and make high-quality, affordable medication more accessible to millions.
Funding Details: Strategic Investors and Use of Capital
- Round Composition: Of the $85million raised, $65million is fresh primary capital, while $20million came via secondary transactions that allowed early backers to exit.
- Growth Plans: The company will aggressively scale up by adding new fulfillment centers (from the current 19 to 50 in the next year), expanding the engineering, product, and operations teams, and launching a technology hub in Bengaluru.
- Team Empowerment: Truemeds has also rolled out ESOP buybacks to reward and retain its growing team of 3,000 employees, including 250 at its Mumbai headquarters.
Innovation & Product Expansion: Beyond Medicines
Truemeds’ platform leverages AI and ML-powered tools to recommend cost-effective alternatives to branded medicines, helping patients save 50-70% on monthly medication costs. Serving chronic care patients for conditions like diabetes, hypertension, and heart disease, Truemeds is trusted by around 600 doctors every day.
The company recently launched its iOS app and is preparing to introduce low-cost diagnostic services within the next two to four months, piloting diagnostics in four cities. These expansions aim to improve patient journeys and healthcare outcomes across India, particularly outside metro areas.
Financials & Impact: Fast-Growing and Efficient
- Revenue Growth: Truemeds doubled revenue to ₹315crore in FY24, closing FY25 with approximately ₹510crore in net sales.
- Improved Efficiency: Losses narrowed by 9% to ₹61crore in FY24 as Truemeds strengthened operations.
- Footprint: The company processes close to 600,000 orders per month and has already helped millions access affordable chronic care medication.
Competitive Landscape: Focused, Value-Driven Care
While rivals like Tata 1mg, PharmEasy, Netmeds, and Apollo compete in e-pharmacy and rapid delivery, Truemeds stands apart by targeting patients who plan medicine purchases for long-term needs, emphasizing value over speed. Its technology-driven model and clinically guided care give it an edge in planned, affordable chronic care, setting benchmarks for transparency and quality.
Founders’ Vision: Making Medicines Accessible, Everywhere
Co-founders Akshat Nayyar and Dr. Kunal Wani have built Truemeds not just as a pharmacy, but as a platform for affordable and transparent health management. Their mission is to reach India’s deepest corners with clinically guided, technology-enabled solutions that bridge the affordability gap for chronic care patients.
Conclusion: Transforming India’s Healthcare Landscape
With this substantial funding, Truemeds is set to redefine how essential, affordable medicines-and soon, diagnostics-reach Indian consumers. The company’s relentless drive for scale, innovation, and deep regional reach promises to transform chronic disease management and make healthcare accessible for all.
