Mumbai-based telehealth and e-pharmacy platform Truemeds has closed its $85 million Series C round, led by Accel and Peak XV Partners, marking a significant step in its expansion journey.
The funding came in two tranches, with participation from WestBridge Capital and Info Edge Ventures.
The fresh capital will be channeled into tripling the company’s national reach, opening more fulfilment centers in non-metro areas, strengthening engineering and product teams, and establishing a tech hub in Bengaluru.
Truemeds has also launched an ESOP buyback policy to reward its team and is planning to roll out diagnostic services in four cities within the next two quarters.
Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds offers clinically equivalent alternatives to branded medicines, helping chronic care patients save 50–70% on their monthly medicine bills. The platform caters to patients with conditions like diabetes, hypertension, and cardiovascular diseases, operating across all major Indian cities with a nationwide logistics network.
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To further enhance its services, the company is investing in AI- and ML-powered tools for product curation, patient journey personalisation, and demand forecasting. Truemeds currently engages around 600 doctors daily, employs about 3,000 people (including a 250-member head office team), and processes nearly 600,000 orders monthly.
Backed by over $135 million in total funding and valued above $400 million, Truemeds competes with heavyweights like PharmEasy, Tata 1mg, Netmeds, and Apollo. Unlike quick commerce rivals delivering medicines in minutes, Truemeds focuses on planned care for chronic patients—emphasising value and affordability over speed.
