Healthtech Startup Truemeds Bags $20 Mn From Peak XV Partners

Mumbai-based Truemeds, a healthtech startup has raised Rs 174 crore (around $20 million) as a part of its Series C funding round from Peak XV Partners.

This investment is an extension of the ₹365 crore ($44 million) raised by Truemeds in March, led by Accel.

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As per its RoC filing, Truemeds has issued 19,737 Series C2 shares at ₹88,331 each to raise this amount from Peak XV.

The funds will be used to grow the business and support its expansion plans, according to filings.

About Truemeds 

Founded by Naitik Nayyar and Akshat Wani, Truemeds helps users find cheaper alternatives to prescribed medicines by simply uploading their prescriptions, focusing mainly on generic options.

Based in Mumbai, the platform also offers personal care items, vitamins, supplements, and healthcare devices.

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Truemeds doubled its revenue to Rs 315 crore in FY24, while reducing its losses by 9% to Rs 61 crore in the same year.