E-pharmacy platform Truemeds raises $85 million in funding led by Accel and Peak XV Partners

Mumbai-based telehealth and e-pharmacy platform Truemeds has raised $85 million in a Series C funding round led by Accel and Peak XV Partners, with participation from existing backers WestBridge Capital and Info Edge Ventures.

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The round included $65 million in primary capital and $20 million in secondary transactions that facilitated early investor exits.

Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds plans to more than double its national footprint by adding fulfillment centers, expanding from 19 to 50 over the next year, while building a technology hub in Bengaluru, hiring across engineering and product teams, and rolling out diagnostic services in the coming months.

"Our vision is simple—to bring the lowest prices for medicines in India, while ensuring every patient gets the quality they can trust," said Akshat Nayyar, Co-founder and CEO of Truemeds. "With this funding, we're ready to strengthen our foundation, grow our offerings, and reach deeper into India's non-metro regions, where access to affordable healthcare can truly change lives."

Positioned in the planned-care segment of India’s e-pharmacy market, the company offers clinically equivalent, lower-cost alternatives to branded medicines, targeting patients with chronic conditions such as diabetes, hypertension and cardiovascular disease. It claims savings of 50–70% on monthly medicine costs. The platform now processes about 600,000 orders per month and engages roughly 600 doctors daily.

Abhinav Chaturvedi, Partner at Accel, said, "India's healthcare market is undergoing rapid transformation, yet affordability continues to be a major barrier—especially in chronic care. Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale."

Sakshi Chopra, Managing Director at Peak XV Partners, added, "Their mission to make chronic care affordable for millions, especially in underserved non-metro markets, is both timely and transformative. By leveraging technology to deliver a seamless customer experience, they are redefining how essential medicines reach those who need them the most."