Truemeds $85M Series C funding signals a major growth leap for the Mumbai-based e-pharmacy and telehealth startup, positioning it to scale operations across India’s underserved non-metro markets.
Funding details and investor lineup
Truemeds raised $85 million in its Series C round, completed in two tranches, with Accel and Peak XV Partners leading the investment. Existing backers WestBridge Capital and Info Edge Ventures also participated in the round.The Economic Times
Strategic growth and new services rollout
The capital will underpin the expansion of fulfillment centers, particularly in non-metro areas, as well as the opening of a new Bengaluru technology hub. The company also plans to increase its engineering and product teams.
Upcoming diagnostics and AI-driven tools
Truemeds is launching diagnostics services soon, with pilot operations in four cities slated for the next two to four months. It is also investing in AI and machine learning tools to improve product curation, personalize patient journeys, and optimize demand forecasting.
Company background and financials
Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds offers affordable, clinically equivalent alternatives to branded medications, promising 50–70% cost savings for chronic care patients. The firm reported FY24 revenue of ₹315 crore and reduced its losses by 9% to ₹61 crore. Total funding to date exceeds $110 million.
Competitive landscape and mission orientation
Operating in a highly competitive sector alongside players like PharmEasy, Tata 1mg, and Netmeds, Truemeds differentiates itself by targeting affordability and accessibility, especially in peri-urban and rural regions with significant need for reliable healthcare logistics.
