Latest News | Pharma Marketplace Saveo Raises USD 4.5 Million

Mumbai, Sep 28 (PTI) Pharma marketplace Saveo Healthtech on Wednesday said it raised USD 4.5 million in a funding round co-led by Matrix Partners, Gunosy Capital and 4Point Health Ventures.

The latest round also saw participation from existing investors LC Nueva, Jetty Ventures, Ocgrow Ventures, Capier Investments, RTP Global, India Quotient, and Incubate Fund, the startup said in a statement.

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With this, the three-year-old startup has mopped up USD 13 million so far. It had raised USD 4 million in seed round in January 2021 and USD 4.5 million in January this year.

The company plans to utilise the capital to widen its reach in existing geographies as well as enter new geographies by establishing new hubs and building a full-stack tech platform.

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Founded by IIT graduates Amit Kumar, Anurag Savarnya, Shivansh Shrivastava and Vivek Jaiswal in 2019, Saveo helps traditional pharmacies build a reliable, scalable and efficient supply chain.

Currently it is present in Karnataka (covering 70 per cent pin code areas), Telangana (covering 35 per cent pin codes including Hyderabad) as well as Tamil Nadu (covering 20 per cent pin codes). Saveo has over 12,000 active outlets procuring from it and 2,000 empanelled doctors.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)