Saveo Raises $4.5 Million In Funding At $50 Million Valuation
09/28/22, 11:21 AM
Location
bengaluruMoney raised
$4.5 million
Industry
marketplace
e commerce
Round Type
seed
Saveo, a B2B e-commerce marketplace for Indian pharmacies, on Wednesday said it has raised $4.5 million in a venture round co-led by Matrix Partners, Gunosy Capital and 4point0 Health Ventures. Existing investors LC Nueva, Jetty Ventures, Ocgrow Ventures, Capier Investments, RTP Global, India Quotient, and Incubate Fund also participated in the round.
Company Info
Location
bengaluru, karnataka, india
Additional Info
Saveo is a B2B managed marketplace for pharmacies, bringing primary & secondary medicine market together, offering faster delivery, cheaper procurement & better technology to pharmacies. It runs with an aim that no prescription shall bounce in India.
Indian pharmaceutical industry is highly fragmented with 6.5lakh retailers and 65000 distributors, unlike the US where there are just 5 major distributors covering 93% of the market share. We aim to streamline this supply chain by being a single distribution point and empower these 6.5lakh micro-entrepreneurs with technology and sustainability.