In a significant development for the Indian healthcare sector, Delhi-based Zeelab Pharmacy has successfully raised $2.4 million in its first funding round. The investment was spearheaded by OTP Ventures, with prominent figures like Suhail Sameer, the former BharatPe CEO, and Kunal Suri playing key roles as partners.
This funding will be instrumental in accelerating Zeelab Pharmacy’s growth trajectory. The startup plans to leverage this capital to expand its retail footprint across India, significantly enhance its delivery capabilities with the introduction of a 60-minute delivery service, and further solidify its position as a leading omnichannel healthcare provider.
Making Healthcare More Accessible and Affordable
Founded in 2019 by Rohit Mukul at the young age of 22, Zeelab Pharmacy was born out of a vision to make essential medicines more accessible and affordable for all. The company has consistently strived to offer medications at prices up to 90% lower than those typically found in the market.
Currently, Zeelab Pharmacy boasts a network of over 225 stores and efficiently handles a substantial volume of orders, exceeding 1,500 daily. Recognizing the importance of brand recognition and outreach, Zeelab strategically onboarded renowned actor Randeep Hooda as its brand ambassador last year, a move aimed at enhancing brand visibility and connecting with a wider audience.
Focus on Expansion and Enhanced Services
Rohit Mukul, Founder of Zeelab Pharmacy, expressed his enthusiasm regarding the recent funding. He stated, “This infusion of capital will serve as a crucial catalyst for our ambitious growth plans. We will utilize these funds to expand our retail presence, significantly strengthen our delivery infrastructure, and further fortify our omnichannel ecosystem. We firmly believe that this partnership with OTP Ventures will be instrumental in propelling our mission forward and creating a more inclusive and equitable healthcare ecosystem for all Indians.”
Addressing the Needs of Both Metro and Non-Metro Cities
Zeelab Pharmacy aims to democratize access to affordable healthcare by effectively serving both urban centers and smaller, non-metro cities. By expanding its reach and refining its delivery services, the company strives to ensure that quality healthcare is within reach for all segments of the Indian population.
A Growing Trend in Healthcare Investment
This funding round for Zeelab Pharmacy underscores the burgeoning interest in the Indian healthcare sector. With a growing emphasis on preventive healthcare, technological advancements, and increasing healthcare expenditure, the sector is witnessing significant investor attention.
Zeelab Pharmacy’s successful funding round marks a significant milestone for the company and a positive indicator for the future of the Indian healthcare sector. With a strong focus on affordability, accessibility, and customer-centricity, Zeelab Pharmacy is well-positioned to capitalize on the growing demand for innovative and accessible healthcare solutions in India.
Subscribe:
Stay connected with the latest updates, exclusive insights, and curated content by subscribing to my newsletter.
