Affordable healthcare expander Truemeds raises $85 million in Series C funding, spearheaded by Accel, then backed by Peak XV Partners, with WestBridge Capital and Info Edge Ventures also contributing substantially.
Truemeds Secures $85 Million in Series C Funding to Expand Affordable Chronic Care Services
Truemeds, an e-pharmacy and telehealth platform based in Mumbai, India, has raised $85 million in its Series C funding round. The funding round was led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures [1][2][3][4][5].
Founded in 2019 by Akshat Nayyar and Dr Kunal Wani, Truemeds focuses on providing affordable, clinically equivalent alternatives to branded medicines for chronic care patients, such as those managing diabetes, hypertension, and cardiovascular diseases [1][2][3]. The platform engages around 600 doctors daily and operates a nationwide logistics network with over 3,000 employees [1][2].
The funding will be used to open additional fulfillment centers, particularly in non-metro areas, to triple the company's national footprint and launch diagnostic services within the next few months [2][3]. The funds will also support investing in AI- and ML-driven tools for product curation, patient journey optimization, and demand forecasting to improve supply chain efficiency [2][3].
A new technology hub will be established in Bengaluru to strengthen the engineering and product teams, enabling the company to expand deeper into underserved non-metro markets [1][3][4]. This expansion aims to enhance affordability, accessibility, and innovation in chronic care delivery across India [1][3][4].
Sakshi Chopra, Managing Director at Peak XV Partners, considers Truemeds' mission to make chronic care affordable, especially in underserved non-metro markets, timely and transformative [2]. Abhinav Chaturvedi, Partner at Accel, believes Truemeds is bridging the affordability gap in chronic care [2].
Truemeds recently launched its iOS application, and the company plans to roll out diagnostic services in four pilot cities over the next two quarters [2][3]. With this funding round, Truemeds is focusing on expanding its role in India's growing healthcare market, emphasizing affordability, accessibility, and innovation in chronic care delivery.
This positions Truemeds as a significant player targeting the affordability and accessibility gap in India's chronic care market outside metro centers [1][2][3][4][5]. The platform's primary goal is to make chronic care more accessible and affordable for all, especially in non-metro regions.
[1] - Truemeds raises $85 million in Series C funding [2] - Truemeds expands with $85 million in Series C funding [3] - Truemeds to triple national presence with $85 million Series C funding [4] - Truemeds targets India's underserved non-metro markets with $85 million Series C funding [5] - Truemeds eyes India's growing healthcare market with $85 million Series C funding
- Truemeds plans to invest the $85 million Series C funding in AI-driven tools for product curation and demand forecasting, aiming to improve technology and innovation in chronic care services.
- The expansion of Truemeds, fueled by $85 million in Series C funding, will establish a new technology hub in Bengaluru and triple their national footprint, focusing on affordability and accessibility in underserved non-metro markets.
