Online pharmacy Digi-Prex raises funds to expand to 10 Indian cities
Hyderabad-based Digi-Prex, an online subscription pharmacy in India, has raised $5.5 million in its seed funding round led by Khosla Ventures. The new funds will be used by the startup to expand its presence to 10 other cities in India.
The round’s investors include Y Combinator, Khosla Ventures, Vedanta Capital, Quiet Capital, Liquid2 Ventures, Soma Capital, PioneerFund, and Tinder Founder Justin Mateen.
With this fundraise, Digi-Prex will start its operations in Delhi, Bombay, Chennai, Bangalore, Calcutta, Ahmedabad, Indore, Jaipur, and Cochin.
Digi-Prex utilizes AI in order to cater to the needs of patients with chronic diseases. The Hyderabad-based startup works directly with medicine distributors, allowing it to purchase medicines at discounted rates.
Samarth Sindhi, Founder of Digi-Prex, said, “We take a novel approach of having personalised interactions with each client as opposed to providing an 'Amazon' for medicines like other online Indian pharmacies. Our prices are also significantly lower than the traditional brick and mortar pharmacies.”
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