TABLT Online Pharmacy Company raises $1.5 mn in pre-Series A round
New Delhi : TABLT Pharmacy, an Indian Online Pharmacy Company announced that it has raised $1.5 million in pre-series A funding round. Launched in 2018, Tablt pharmacy deals in medicines, OTCs, and other healthcare products.
The company serves customers across cities like Arambagh, Ghatal, Asansol, Durgapur, Burdwan, Bankura Town, Dhanbad, Siliguri, Patna, Bagnan and many more in states of West Bengal, Bihar, Jharkhand & Orissa .
Founded by Anish Agarwal and Anant Jain the pharmacy has successfully raised $1.5 million from an impressive line–up of investors in pre-series A-round like JITO Angel Network, Tech Innovation (Chennai based), Let's Venture, Seeders Syndicate (Kolkata based), Angel Bay and other angel investors. Also, the founders have themselves participated in this round, the statement said.
Mahesh Ramachandran, CEO, Tech Innovation, adds, "We have a strategic thesis with a focus on Bharat in addition to our interest in emerging technology at Tech Innovations. Tablt fits in perfectly with this vision and we plan to expand together. Their Healthtech solution along with our existing phygital platform of financial services across India, we are leveraging both – our distribution network across 20+ states and 30,000 locations."
Speaking on the pre-A series fundraising, founder Anish Agarwal says, "We are very excited about raising a pre-A series round of funding. I would like to add here that the company has achieved six-fold growth since April 2020. Now, we are geared up for four times growth in the next 15 months."
Buoyed by this successful round of funding, the company's future plans entail opening 500 new franchisees thus creating a network of more than 1000 franchisees in the current year – 2022, a statement added.
Funds will be deployed to build teams across Tech, Product & Marketing functions. Besides, it has plans to open 'Fulfilment Centres' in Bhubaneswar, Patna and Siliguri.TABLT Pharmacy is aiming to tie up with strategic partners in the healthcare ecosystem.
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