Exclusive: Sofina To Lead PlatinumRx’s $32 Mn Funding At $200 Mn Valuation
Online pharmacy startup PlatinumRx is in talks to raise around $32 Mn (over ₹300 Cr) in a funding round led…
Belgian investment firm Sofina Ventures is set to lead a significant funding round for Bengaluru-based online pharmacy startup PlatinumRx, with talks underway for around $32 million in capital. This proposed transaction could value PlatinumRx at $150-200 million, marking a substantial increase from its previous rounds. The investment aims to bolster PlatinumRx's supply chain, expand fulfilment capabilities, and build its product and technology teams.
The startup, founded in 2023 by Ashutosh Pandey and Piyush Kumar, operates an online platform that connects consumers with affordable substitute medicines, which have the same composition as prescribed medications. Since its inception, PlatinumRx has served over 10 lakh customers. The new funding follows a $6 million Series A round in 2024, led by Stellaris Venture Partners and India Quotient.
The startup had also secured a seed round in April 2024, also co-led by India Quotient. While discussions on the terms of the transaction are ongoing, the investment could strengthen PlatinumRx's position in India's competitive online pharmacy market.
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