Pluss, an hyperlocal medicine and healthcare products delivery startup, has raised $1 million in pre-Series A funding from IDG Ventures India, m & s partners (Singapore) and Powerhouse Ventures (USA).
The Gurgaon-based company plans to use the funds to upgrade its technology and technical team, perform aggressive marketing, and establish a presence in five cities and pilot new projects.
Pluss was founded this year by Atit Jain, Madhulika Pandey and Tarun Lawadia to ensure timely delivery of medicines at the customer’s doorstep.
The country's largely unorganised healthcare industry, which is worth billions of dollars, has witnessed emergence of startups trying to solve the issues revolving around healthcare, right from availability of good doctors to timely treatment.
Through their own fleet of delivery executives called ‘Pluss Men’, Pluss takes the responsibility of fulfilling the orders on time. The team comprises licensed pharmacists and trained delivery executives.
Atit Jain, CEO of Pluss, said, “We prioritise 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 five cities by the end of this year.”
“Pharmacy retail is highly disorganised 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.
App subscriber base
The company claims that its app subscriber base has grown more than 50 per cent month-on-month and has tripled in the last three months. The app order volume has grown four times since September with a 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 per cent 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.