PlatinumRx raises $6 million in round led by Stellaris Venture Partners

Online pharmacy PlatinumRx has raised $6 Mn (around Rs 53 Cr) as part of its Series A round led by Stellaris Venture Partners, with participation from existing investor India Quotient.

The epharmacy will use the new funds to expand operations, open more fulfillment centers, and improve its supply chain. It also plans to invest in building strong product and tech teams and boosting its brand presence.

Read also- Seekho raises $28 million in Series B round led by Bessemer

“India has a very unique problem where doctors write a very specific name of the medicine brand on the prescription. So, the idea was to figure out where people can buy the same medicine from a different brand, and our job is to ensure the quality of the medicine is maintained,” said Ashutosh Pandey, cofounder of PlatinumRx.

“Over the next 12–18 months, we aim to serve over a million customers by expanding our reach with five new fulfilment centres, enhancing the customer experience through AI-driven personalisation, and strengthening sourcing efficiencies to deliver even greater value,” said Piyush Kumar, cofounder, PlatinumRx.

“The chronic disease burden in India is rising, and so is the cost of medication. With growing awareness and adoption of affordable substitutes among chronic patients, PlatinumRx has a massive opportunity ahead,” said Naman Lahoty, partner, Stellaris Venture Partners.

About PlatinumRx 

Founded in 2023 by Kumar and Ashutosh Pandey, PlatinumRx is an online pharmacy that helps users find substitute medicines with the same composition. The startup is tapping into the rising demand for affordable alternatives among chronic patients, much like generic medicine platforms.

It sources directly from large pharma companies and delivers across 20,000+ pin codes, serving over 2 lakh customers so far.

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Lately, epharmacies have gained attention as quick-commerce platforms roll out 10-minute medicine delivery.

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