Farmako Bags $1.6 Mn Investment for Medicine Delivery Service in Delhi

The startup plans to use the funds to expand its operations further in Delhi and Gurugram, according to media reports.

Farmako, a Gurugram-based startup specializing in quick medicine delivery, has raised $1.6 million in funding from existing investors, including 535 West Capital, Bayhouse Capital, Goodwater Capital, Unpopular Ventures, and Jude Gomila.

The startup plans to use the funds to expand its operations further in Delhi and Gurugram, according to media reports.

Founded in 2019, by college friends Aman Bhandula, Kaishu Sahu, and Nikhil Kumar, Farmako initially launched as an AI-powered electronic medical record (EMR) app for doctors to write digital prescriptions.

However, after gaining support from Y Combinator in 2020 and March 2023, the startup pivoted to quick medicine delivery.

The idea emerged after a successful experiment in Gurugram, where Farmako partnered with local pharmacies and Swiggy Genie to offer 30-minute medicine delivery, which saw a strong demand.

Expansion Plans

Currently operating three pharmacies in Delhi, Gurugram, and Moradabad, Farmako has completed over 16,000 deliveries within a month. The startup’s annual gross order value has surpassed $1 million.

In addition to expanding its quick delivery services, Farmako is also partnering with the Indian government on a long-term EMR vision inspired by the Ayushman Bharat Digital Mission (ABDM) initiative.

The startup has developed a health ID product and has onboarded over 3.5 million health records.

Looking ahead, Farmako is in discussions with potential investors to secure a Series A funding round later this year, as reported by media outlets.

In a similar development, parallelly, Bengaluru-based 4baseCare, a provider of precision oncology solutions, secured $6 million in Series A funding, led by Yali Capital and other investors.

The startup utilizes advanced genomics and digital health technology to revolutionize cancer care with personalized treatment solutions.

Likewise, just days back, Udaipur-based digital healthcare startup Karma Primary Healthcare raised INR 11 Cr (approximately USD 1.3 million) in Series A funding from the UBS Optimus Foundation, with additional contributions from 1Crowd and other investors.

The funds sough to be used to advance their technology, expand value-added services, and strengthen their team, with a focus on developing a patient-centric care model for rural India.