Gurgaon based on demand medicine delivery startup Pluss has raised $1 million in pre-Series A funding from IDG Ventures India, M&S Partners and US based Powerhouse Ventures.
The company is trying to disrupt the unorganised pharmaceuticals distribution market in its own way. The freshly raised funds will be deployed to better the technology, in ‘aggressive’ marketing and expanding to 5 new cities.
Pluss has an Android app that lets the customers place orders for prescription and non prescription medicines. Users can click a picture of their prescription and the company takes care of the rest. The startup claims 1 hour delivery in the areas it operates in.
The app subscriber base has grown over 50% month on month and has tripled in the last 3 months as per the team. They claim for the app order volume to have grown 4 times since September with 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% 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.
It is riding on the hyper local wave, and hopes to leverage the same to its advantage. The company is up against brick and mortar pharmaceutical stores, and particularly the chains like Religare Wellness who have entered into a hybrid commerce model to enable hyper local delivery. On purely digital front it is competing with other funded companies in this space such as Healthkart, 1MG, Curejoy and Inayo.