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Super-speciality pharmacy startup MrMed said it has raised $500,000 in funding from the Tamil Nadu Emerging Sector Seed Fund (TNESSF), with participation from angels from BEEJ Network and Vish Entrepreneurs LLP.
TNESSF is managed by Tamil Nadu Infrastructure Fund Management Corporation Limited.
According to the company's statement, The raised funds will be utilised for marketing initiatives, expanding the team, and exploring new ventures within the pharma supply chain and healthcare service provider sectors.
Founded in 2021 by Devashish Singh and Saurab Jain, MrMed offers super-speciality medicines for critical conditions like cancer, kidney diseases, heart disorders, HIV/AIDS, transplants, hepatitis, and more.
The healthtech startup claims to have an Annual Recurring Revenue (ARR) of over Rs 26 crore and cater to more than 50,000 users spread across over 2,000 towns, cities, and villages in India.
Devashish Singh, co-founder, Mr Med, said, “We are quite excited about the fundraise and are looking to utilise the funds for customer acquisition and team growth. While we are a frugal company, we recognise the challenges in the B2C domain.”
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