India-based startup Medlife has raised $17 Million (INR 118.95 crore) in the latest equity funding round. Tushar Kumar founder of Prasid Uno Family Trust has invested in the epharma startup.
Bengaluru-headquartered Medlife was founded in 2014 by Tushar Kumar and Prashant Singh. It is an inventory-led e-pharmacy that assists doctors digitally maintain and store patient records. Later, the app gradually expanded to online doctor consultations, wellness products, and laboratory services.
Medlife started with an initial investment of $15 Million and received a funding of $30 Mn from family capital and backers. The company has been a mostly self-funded company and has raised funds by Kumar’s family trust. Tushar Kumar is involved in the family-run pharma business Alkem Laboratories.
Medlife – Docs at one click ahead
Medlife assists people to buy medicines online. With the app, you can consult a doctor from home and can get a free laboratory test done home.
The company offers its services to 23,000+ areas in more than 40 cities in 29 states with an average of 15,000 deliveries a day. It enables consultations for more than 5 Lakh patients with over 1000 doctors over 30 specialties.
Medlife has processed around 80,000 samples to date. Over the last six months, the company has acquired two startups- EClinic24/7 technology for an undisclosed amount and digital healthcare and diagnostics at home services platform named Medlabz.